Investment in sustainable practises supported by the Omani Government
Oman's 'Vision 2020' and the '9th Five-Year Plan' (2016-2020) aims to increase investment and development of renewable technology to secure the country's energy future.
Political climate of Oman adds incentive for investment in sustainable practises
Oman is the Switzerland of the Middle East, with financial security and political stability being one of the most attractive features in the Sultanate, encouraging a climate for investment in sustainable business strategies and involvement in the development of sustanable technologies suitable for the Omani Environment.
Investment in renewable technologies to support Omanisation Drive
The Sultanate of Oman is focused on upgrading the skills of the Omani workforce and developing and investing in human capital as part of its Omanisation drive. Since the renewable energy industry is more labor-intensive, investing in renewable energy technologies will create multiple job opportunities while developing sustainable products or processes will also lead to horizontal skill growth of the Omani workforce.
Implementation of large-scale renewable schemes already underway
According to Oman Power and Water Procurement Company (OPWP), the sole procurer of new power and water capacity, efforts are ongoing to put in place guidelines designed to support the implementation of large-scale renewables schemes in the Sultanate.
Scope for renewable energy projects in Oman
Oman Power and Water Procurement Company (OPWP) expects solar energy projects, wind farms and other renewable energy (RE) projects to complement gas-fired generation in the Sultanate in the near future.
Growth of the eco-friendly energy market alongside sustainable business practices
As regional governments implement eco-friendly green building regulations and programmes, the demand for eco-friendly energy technology is expected to grow by 16-17% annually over the next five years.