Exploring Wind Energy: How OQAE and Naqaa’s New Projects Could Boost Business Opportunities in Oman
MUSCAT: OQ Alternative Energy has entered into a joint development agreement with Naqaa Sustainable Energy to invest in several wind energy projects across the wilayats of Duqm, Mahout, and Sadah, situated in the governorates of Dhofar and Al Wusta. These initiatives are projected to produce up to 1,100 megawatts of energy utilizing wind turbines manufactured locally by the upcoming Mawarid Turbine factory in Duqm.
This agreement is part of OQ Group’s overarching strategy to establish an integrated value chain in clean energy, while also fostering national industries by localizing expertise and supporting startups in the renewable energy sector.
The agreement was signed by Eng. Saeed bin Mohammed al Masoudi, Chairman of OQ Alternative Energy, and Mustafa bin Mohammed al Hinai, CEO of Naqaa Sustainable Energy, with the presence of Eng. Salim bin Nasser al Aufi, Minister of Energy and Minerals.
Al Masoudi emphasized that the agreement illustrates the government’s dedication to advancing renewable energy sources and fostering sustainable development in Oman. He noted that the project enhances OQ’s role as a national investment vehicle in the clean energy transition, focusing on developing grid-supporting projects that cater to the country’s future energy requirements.
In addition, Al Hinai remarked that this collaboration is aligned with national goals to diversify energy sources by leveraging Oman’s natural resources. He underlined the necessity of strengthening the electricity sector’s capacity to meet increasing demand in the years ahead.
It is also significant to mention that in April 2025, OQ Group signed a memorandum of understanding with Mawarid Company to establish the Mawarid Turbine factory in Duqm, which will produce wind turbines for both local and regional projects. — ONA
Special Analysis by Omanet | Navigate Oman’s Market
The recent joint development agreement between OQ Alternative Energy and Naqaa Sustainable Energy marks a significant step towards Oman’s transition to renewable energy, offering businesses opportunities in local manufacturing and sustainable practices. As the country aims to diversify its energy sources, entrepreneurs should consider investing in local industries that support this clean energy shift, while also being aware of the competition and potential challenges associated with emerging technologies. This initiative not only enhances Oman’s energy security but also positions investors strategically to capitalize on growing demand in the renewable sector.
