OQ, the global energy investment group, has signed thirteen strategic renewable energy agreements totaling more than $2 billion during Oman Sustainability Week 2025, demonstrating its leadership in energy sector transformation and national sustainability efforts. The signings took place in the presence of key strategic partners and senior representatives from the investing companies.

These agreements underscore OQ's commitment to supporting Oman's path to net zero by 2050 and increasing renewable energy's share in the national energy mix. They align perfectly with the Group's strategy to transition toward a low-carbon economy through clean energy projects that reduce emissions, enhance sustainability, and optimise natural resource utilisation via strategic partnerships.

OQ Group CEO Ashraf bin Hamad Al Mamari and OQ Alternative Energy (OQAE) CEO Najla Zuhair Al Jamali represented the company during the signings, joined by officials from partner organisations.

Commenting on this milestone, Ashraf bin Hamad Al Mamari stated: "These agreements mark a strategic advancement in OQ's renewable energy leadership and reflect our unwavering support for Oman's 2050 net zero goals. Recognising clean and sustainable sources as the future of energy, we're collaborating with national and international partners to establish new investment opportunities in clean energy infrastructure."

The comprehensive agreements encompass project development partnerships, financing arrangements with local banks, and equipment supply contracts to support implementation and operations.

Building on its commitment to decarbonisation and innovation, OQ S.A.O.C. and Mitsubishi Heavy Industries, Ltd have entered a strategic collaboration to conduct pre-feasibility studies for integrating carbon capture technologies across OQ’s assets in Oman.

The partnership will assess the full CO₂ value chain, from capture and transport to utilisation and storage, to build commercially viable business cases. MHI will provide technical support , underpinning OQ’s commitment to innovation, emissions reduction, and the energy transition.

Key projects include high-capacity solar and wind installations in strategic locations like Sohar and Duqm, featuring the Riyah-1 and Riyah-2 plants along with the North Oman Solar Project. These initiatives will provide clean energy to both the national grid and oil and gas production facilities through long-term offtake agreements.

The agreements also secure renewable energy supply for major industrial operations including Jindal, Vale Oman, Oxy, and United Solar Polysilicon, enabling these facilities to reduce their carbon footprints and transition toward more sustainable production methods.

Beyond operational aspects, the partnerships promote industrial localisation, notably through collaboration with Voltamp for local transformer manufacturing. This initiative boosts In-Country Value while developing an industrial base to support renewable energy growth.

In a strategic move to advance technology partnerships, OQ signed a co-operation agreement with Japan's Mitsubishi Heavy Industries, Ltd for collaboration on advanced energy projects and hydrogen technologies.

Najla Zuhair Al Jamali, CEO of OQAE, added: "These agreements operationalise our strategy to promote renewable energy and accelerate the transition to a low-emission economy. At OQAE, we develop sustainable, innovative solutions that support net zero objectives. These partnerships demonstrate international confidence in OQ's capabilities and investment framework as we expand our portfolio of high-quality projects establishing Oman as a regional clean energy hub.”

This milestone underscores OQ's unique ability to bridge vision with execution, leveraging global partnerships, cutting-edge technology, and strategic capital deployment to accelerate Oman's energy transition. Each project delivers measurable progress toward national targets while creating lasting value for Oman's economy, workforce, and environment.