MUSCAT: With Oman drawing up plans to expand its renewable energy sector, Australia’s metals and green energy giant – Fortescue has offered to invest in developing a world-class green hydrogen project in the country.

Speaking exclusively to The Arabian Stories, Dr Andrew Forrest, Founder and Chairman of the 60-billion global company Fortescue Metals Group praised the Sultanate’s ambitious plans to emerge as an international destination for green energy investments. “I am highly impressed by the initiatives the government under the leadership of His Majesty Sultan Haitham Bin Tarik are taking in expanding the renewable energy sector in Oman,” Forrest said.      

Oman has set a target of generating 11 per cent of its electricity from clean energy sources by 2023, while the government also aims to add 30 per cent of clean energy into its power mix by 2030.

Early this month, His Majesty the Sultan had directed the government to set up a directorate of clean and hydrogen energy under the Ministry of Energy and Minerals, and a company to develop this sector. Forrest who met several officials during his two-day visit to Oman, including His Excellency Mohammed Al Rumhy, Minister of Energy and Minerals said his company is looking to install the “full ecosystem in Oman.”

“We have a bigger picture for Oman,” Forrest said, adding that the aim is to also create jobs for locals. “We are looking to invest in Omani manufacturers, Omani content and Omani workers. As I said, Oman has a great future in green energy and this is the time to act,” he informed.

Aiming to become carbon-neutral by 2030, Fortescue has signed a string of projects over the past year to underline its push to transition from a pure-play iron ore producer to a green energy firm. “I was always fascinated by green energy. I completed a PhD in Marine Ecology and I am very much passionate about ocean conservation,” said Forrest, Australia’s most active philanthropist and one of the most effective business leaders of his generation.

According to a Reuters report, Fortescue expects to spend between $400 million and $600 million this financial year to develop green trains, trucks and shipping, as well as decarbonisation technologies. It also expects to expand its green hydrogen production to 15 million tonnes per year by 2030.