From The Report: Oman 2023
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Oman Vision 2040, the national plan to diversify the sultanate’s economy and put it on a more sustainable footing, is the most important driver of change in the utilities sector. In March 2019 the Oman Power and Water Procurement Company forecast the share of renewables in the energy mix would reach 30% by 2030, compared to Vision 2040’s initial projection of 20%. Following the country’s announcement in October 2022 of its goal of reaching net-zero emissions by 2050, the sultanate plans to invest $190bn in climate and energy-transition projects by 2050, including energy efficiency measures and renewable power projects. Oman has been increasingly centralising control of its overall energy policy, including the public provision of power. The Ministry of Energy and Minerals; and the Ministry of Agriculture, Fisheries and Water Resources are responsible for policy decisions regarding power and water, respectively.

This chapter contains interviews with Abdullah Al Hashimi, CEO, Marafiq; and Omar Al Wahaibi, Group CEO, Nama Holding.