Demand for energy is growing

The Sultanate is assessing the potential for developing new wind power projects at key locations in the country, according to HE Salim Al Aufi, Undersecretary of the Ministry of Oil and Gas.

He was participating in the second meeting of Omani French Friendship Association to continue the discussion started last year on energy transition. The meeting titled ‘Energy Transformation: a choice or a necessity’ focused on the financial perspective associated with this transition.

The impact of fossil fuels on climate change has led governments, business communities, investors and the public in general to recognise the urgency to decarbonise the global economy. It is also widely acknowledged that massive investments are required for a sustainable energy transition but the question is to find out how and who will undertake it. The meeting attempted to balance the necessary financial short-term returns for investors and banks with long term vision.

“The demand for energy is continuously growing. We plan to develop more wind energy projects,” Aufi said. He further underlined the need for employing Internet of Things (IoT) and other technologies to drive energy efficiency.

The panelists included HE Salim Al Aufi, Marie Cécile Grzanka, Head of Sectorial Coverage Energy Natural Resources and Energy Financing of Société Générale, Nigel Govett, Chief Financial Officer of Rakiza Fund & member of the Senior Investment Committee of SGRF and Mohammed Al Riyami, Senior Manager of Oman Society for Petroleum Services (OPAL) who moderated the panel discussion.

The key aim of the informative meeting was to discuss about the situation of the sustainable pathway, to ascertain if we are doing enough in energy efficiency, to listen to the government plans and position to increase renewables in the energy mix, to understand the current trend in funding projects with less carbon footprint and many other interesting questions that were also tackled.

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