Oman’s Hydrom receives bids for renewables projects
Hydrom, Oman’s state-run entity responsible for developing the country’s green hydrogen sector, is receiving bids for the auction of a 300 square kilometre piece of land on which investors can build renewable projects.
So far about 100 bids have been received for the projects to be built in the Duqm free zone, located in the country’s central region. The bids will be closed next month, Hydrom said in a report to AGBI.
The bids, which were invited in April this year, will be awarded to three separate projects each allotted 10 sq km of land.
Hydrom is offering incentives to successful investors, including a 90 percent reduction in land lease fees and a 10-year corporate tax exemption.
The company is expected to award to the successful bidders during the second quarter of 2026. The land lease will be 47 years long, Hydrom said.
Hydrom, which was established in 2022, is owned by state-owned Energy Development Oman (EDO), with the objectives of inviting companies to invest in green hydrogen and supervising the projects.
Further reading:
- Oman set to finalise 2GW green projects by year-end
- Oman’s EDO borrows $1bn for renewables expansion
- Oman’s ‘enormous’ hydrogen potential hangs on project delivery
Hydrom’s production targets are 1 million tonnes by 2030, 3.75 million tonnes by 2040 and 8.5 million tonnes by 2050.
Oman has set a target to reach net-zero gas emissions by 2050. It also aims to produce 30 percent of its electricity using renewable energy sources by 2030.
The Gulf state expects to reach 100 percent clean energy capacity by 2050.
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