Oman energy storage subsidy policy

Does Oman rely on natural gas?

As of early 2023 over 90% of electricity was supplied by natural gas power stations, the largest of which is the 2000-MW Sur natural gas-fired combined-cycle power plant that has been in operation since 2014. Moving forwards, Oman has committed to meet future demand for electricity from renewable sources alone, easing its dependence on natural gas.

Will Oman utilise geothermal resources after mapping hotspots?

SLB, formerly oil services company Schlumberger, announced in November 2022 that it was partnering with the Ministry of Energy and Minerals and the OIA to develop a national strategy for Oman to utilise the potential of its geothermal resources after mapping hotspots by evaluating data provided by the Oman Oil & Gas Data Repository.

How does opwp work in Oman?

The OPWP operates the market, allowing Oman to move beyond a commonplace deal structure in which the price of power is agreed by the electricity and water distributor when a project is finalised under a power purchase agreement (PPA).

Does Oman use a PPP model?

Since its first PPP in 1994, the Manah IPP, Oman has regularly used the PPP model,” Muneer Al Muneeri, CEO of Rakiza – an infrastructure fund focused on Oman and Saudi Arabia, and co-managed by Oman Infrastructure Investment Management and Equitix – told OBG.

How can energy storage improve the penetration of intermittent resources?

Energy storage can increase the penetration of intermittent resources by improving power system flexibility, reducing energy curtailment and minimising system costs. By the end of 2018 the global capacity for pump hydropower storage reached 160 GW whereas the global capacity for battery storage totalled around 3 GW (REN21 2019 ).