Oman and Templewater Launch $200M Energy Transition Fund: What It Means for Investors and Businesses in Oman
The Future Fund Oman (FFO), an arm of the Oman Investment Authority (OIA), and Templewater, a leading pan-Asia alternative asset manager, marked a significant milestone with a signing ceremony on Thursday, September 11, in Hong Kong to launch Oman’s first dedicated Energy Transition Fund (ETF).
This pioneering fund represents a bold advancement in accelerating the global transition to clean energy while strengthening strategic collaboration between Hong Kong, Oman, and the wider Gulf Cooperation Council (GCC) region.
With an initial capital commitment of $200 million, the ETF is designed to drive Oman’s energy transformation and economic diversification in alignment with Oman Vision 2040. The fund targets high-impact sectors such as clean molecules, energy storage, e-fuels, smart mobility, renewables, and green data centres.
Over its lifespan, the fund plans to make five to ten investments, with early deployments expected within six to twelve months, focusing initially on energy storage and smart mobility. It follows a five-year investment period coupled with a five-year holding horizon. Currently, the fund has an active pipeline of projects undergoing due diligence and advanced discussions.
The signing ceremony coincided with the 10th anniversary of the Belt and Road Summit in Hong Kong, a leading international forum that unites senior government officials and business leaders from Belt and Road countries to foster multilateral cooperation and unlock business opportunities. The event also follows recent high-level discussions between Abdulsalam bin Mohammed al Murshidi, Chairman of Oman Investment Authority, and John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), held on August 1, 2025. These talks underscored a mutual commitment to long-term collaboration in clean energy, infrastructure, and industrial innovation.
Templewater’s establishment of the ETF in Oman not only reflects these governmental engagements but also highlights promising opportunities for exchange and cooperation between Hong Kong, Oman, and other GCC member states.
To deepen regional ties, Templewater has opened a local office in Muscat, relocating team members from its headquarters and actively hiring locally. This expansion underscores Templewater’s long-term dedication to Oman and positions the firm as a vital platform for deploying cross-border capital to support the energy transition across Asia and the GCC.
Shaikh Nasser bin Suleiman al Harthy, Deputy President of Operations at OIA, commented: “This joint fund with Templewater exemplifies our commitment to attracting strategic investments that will drive Oman’s clean energy transition. By developing sustainable projects using transformative technologies, we aim to reinforce Oman’s position as a regional renewables hub, supporting the economic diversification and environmental objectives of Oman Vision 2040. Our goal is to create added economic and environmental value through innovation and responsible investment, enhancing Oman’s global competitiveness.”
Cliff Zhang, Chairman and CEO of Templewater, stated: “Launching this groundbreaking initiative in partnership with Future Fund Oman reflects our shared vision for a cleaner and more resilient energy future. Opening our office in Muscat further cements Templewater’s commitment to the region and our readiness to implement transformative projects with FFO. We have strong confidence in Oman’s progressive investment climate and in scaling technologies that deliver both climate benefits and commercial success. This launch also symbolizes a broader strengthening of financial and strategic relations between Hong Kong and the GCC. As an Asia-focused investment firm, Templewater is proud to contribute to this momentum. Today’s launch is a clear testament to Hong Kong’s critical role as a super connector between mainland China, the GCC, and the global community.”
Beyond financial investment, Templewater brings operational expertise and active policy engagement. Its portfolio includes companies such as Wisdom Motor and Hysata, which showcase the firm’s dual commitment to innovation and commercial viability. Wisdom Motor, a designated supplier for the 2025 Osaka Expo, introduced hydrogen buses during COP28 in Abu Dhabi and operates across 25 countries in Europe, Asia Pacific, and the Middle East. Hysata, an Australian electrolyser manufacturer, has secured co-investment from BP Ventures and FFO.
This collaboration sets a new benchmark for clean energy investment in the region and underscores the expanding partnership between Oman, Hong Kong, and the GCC in fostering sustainable development and innovation.
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The launch of Oman’s first dedicated Energy Transition Fund marks a strategic milestone for Oman’s clean energy and economic diversification ambitions under Vision 2040, positioning the country as a regional renewables hub. For businesses and investors, this creates significant opportunities in emerging sectors like energy storage, smart mobility, and green technologies, while enhancing cross-border cooperation with Asia and the GCC. Smart investors should consider early engagement with fund-backed projects to capitalize on Oman’s growing role in sustainable energy and technological innovation.
