REG-TotalEnergies SE Oman: TotalEnergies and OQAE Sign Agreements to Develop 300 MW of Renewable Projects

TotalEnergies SEAnnouncement

11/12/2024 16:00

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Oman: TotalEnergies and OQAE Sign Agreements to Develop 300 MW of Renewable
Projects

 

In line with its multi-energy strategy in the Sultanate of Oman, TotalEnergies
(Paris:TTE) (LSE:TTE) (NYSE:TTE) is pleased to announce, together with its
partner OQ Alternative Energy (OQAE), the National Renewable Energy Champion,
the signing of landmark agreements to develop 300 MW of renewable energy
projects in the country. The electricity will be delivered through long-term
Power Purchase Agreements (PPA) to Petroleum Development Oman (PDO), the
leading exploration and production company in the Sultanate.

With respectively 49% and 51% shares, TotalEnergies and OQAE will lead in
realizing three renewable projects:


 * North Solar, a 100 MW solar project, located in Saih Nihaydah in northern
Oman;

 * Riyah-1 and Riyah-2, two 100 MW wind projects, located in Amin and West Nimr
fields in southern Oman.

The construction will start in early 2025, and the electricity production in
late 2026. These solar and wind projects will generate over 1.4 TWh of
renewable electricity annually.

“Following our recent successes
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftotalenergies.com%2Fnews%2Fpress-releases%2Foman-totalenergies-launches-marsa-lng-project-and-deploys-its-multi-energy&esheet=54165349&newsitemid=20241211872245&lan=en-US&anchor=successes&index=1&md5=795690e2d6a8640708d23870c5c3e3ed)
in the Sultanate of Oman, notably with the launch of the Marsa LNG project in
April, we are pleased to make a new step in the deployment of our integrated
multi-energy strategy in Oman,” said Olivier Jouny, Senior Vice President
Renewables at TotalEnergies. “Together with our partner OQAE, we are eager
to start the construction of these three projects which will provide long-term
renewable electricity to PDO while supporting the Sultanate in its energy
transition”.

“We are delighted to sign these agreements, which further reinforce our
steadfast commitment to achieving Net Zero emissions by 2050 in line with the
objectives of Oman Vision 2040, mainly the diversification of energy sources
to ensure sustainable energy security. PDO’s journey towards sustainability
was firmly established with previous groundbreaking initiatives, including the
Amin Solar IPP Power Plant and the Rima Water Treatment Project. These
projects, alongside the ones signed today, continue to reshape Oman’s energy
landscape by blending technological innovation with environmental stewardship.
They also support our aim of sourcing 30% of our power capacity from
renewables by 2026, reflecting our dedication to a cleaner, sustainable
future”, said Dr Aflah Al Hadhrami, Managing Director of PDO.

“In partnership with PDO and TotalEnergies, OQAE is proud to advance
Oman’s transition toward sustainable energy. As an energy transition
enabler, we are delighted to lead the development of these projects supporting
PDO to achieve their decarbonization plans. This significant milestone
underscores the expertise and dedication of all stakeholders involved. As the
National Champion for Clean Energy in Oman, OQAE is committed to supporting
the nation’s economic growth by developing innovative clean energy and
low-carbon projects. With a focus on environmental stewardship and long-term
prosperity, OQAE ensures the delivery of sustainable solutions to meet
Oman’s evolving industrial energy needs”, stated Ms. Najla Zuhair Al
Jamali, Chief Executive of OQ Alternative Energy.

***

About OQ Alternative Energy

OQ's Alternative Energy (AE) stands at the forefront of OQ's energy transition
initiatives, playing a vital role in realizing national objectives for
achieving Net Zero emissions by 2050 aligned with Oman’s 2040 vision.
Central to OQ AE's strategy is the decarbonization of OQ's assets, eventually
extending to the decarbonization of Oman as a whole. OQ AE is committed to
driving sustainable economic growth within Oman's energy value chain and
facilitating the energy transition through successful partnerships. As a
national champion for renewable energy, OQ AE is dedicated to developing a
robust clean energy portfolio and supporting Oman’s low carbon molecule
investments.

TotalEnergies and electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a world class cost-competitive portfolio combining renewables (solar, onshore
and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm
power to its customers. By the end of 2024, TotalEnergies’ gross renewable
electricity generation installed capacity had reached over 24 GW.
TotalEnergies will continue to expand this business to reach 35 GW in 2025 and
more than 100 TWh of net electricity production by 2030.

About TotalEnergies Oman

TotalEnergies has been present in Oman since 1937. The Company launched in
2024 the integrated Marsa LNG project (80%), which combines natural gas
production from Block 10, a full electric liquefaction plant of 1Mt/y capacity
intended to serve as the first LNG bunkering hub in the Middle East and a
dedicated 300 MWp PV solar plant.

TotalEnergies’ oil and gas production in Oman was 66 kboe/d in the third
quarter 2024. TotalEnergies produces oil in Block 6 (4%), natural gas in Block
10 (26.55% via Marsa LNG LLC) as well as LNG through its participation in Oman
LNG (5.54%)/Qalhat LNG (2.04% via Oman LNG). TotalEnergies is currently
conducting exploration activities in Block 12 (50%, operator), and is
appraising Block 11 (22.5%).

TotalEnergies also contributes to the development of renewables in the
country, such as the largest solar photovoltaic system built to provide power
for a desalination plant in Oman, in the city of Sur, in joint-venture with
Veolia.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

TotalEnergies Contacts 

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