Oman Investment Authority launches Energy Transition Fund

The presence of Templewater in Muscat will also support knowledge transfer, training opportunities, and capacity building for Omani talent in priority sectors.

Oman Investment Authority (OIA) has announced the launch of the Energy Transition Fund, a joint initiative between Future Fund Oman and Templewater, a leading alternative asset management firm in Asia.

This initiative, first announced in Muscat last July, marks a significant step towards accelerating the global shift to clean energy and strengthening strategic cooperation between Oman, the GCC, and China, reported ONA.

The official launch was announced on the sidelines of OIA’s participation in the 10th Belt and Road Summit, which was held in Hong Kong, in the presence of government and business leaders convened to explore investment opportunities and reinforce economic partnerships among Belt and Road Initiative members.

The Initiative, launched by China in 2013, is one of the world’s largest global infrastructure and connectivity programs, linking more than 70 countries in Africa, Asia and Europe through a network of land and maritime economic corridors.

Representing OIA, Ibrahim Said Al Aisri, Chief of Private Equities, joined as an official speaker in the panel session on new destinations in emerging markets.

The joint fund, established with an initial capital commitment of approximately RO 77 million ($200 million), will accelerate Oman’s energy transition while advancing economic diversification.

It will target high-potential sectors including clean electricity, clean fuels, energy storage, e-fuels for industry, smart mobility, renewable energy, and low-emission data centres.

The fund is expected to invest in five to ten projects over its initial five-year investment period, followed by a further five years of project holding.

Several projects are already under advanced technical and financial evaluation.

Underscoring the significance of regional partnerships, and reflecting OIA’s outward-oriented strategy, Templewater has opened a new office in Muscat.

This expansion highlights the firm’s commitment to the Omani market and its ambition to serve as a platform for channelling capital into energy transition projects in Oman and across the region.

The presence of Templewater in Muscat will also support knowledge transfer, training opportunities, and capacity building for Omani talent in priority sectors.

“The new investment fund with Templewater embodies OIA’s efforts to attract high-quality investments that support Oman’s transition to clean energy.” Said Sheikh Nasser Sulaiman Al Harthy, Deputy Chairman of Operations at Oman Investment Authority. “Through this initiative, we aim to establish sustainable projects based on transformative technologies with long-term impact, reinforcing Oman as a trusted regional hub for renewable energy. It also supports economic diversification in line with the pillars of economy, development and environmental sustainability under Oman Vision 2040. Our objective is to generate both economic and environmental value that combines innovation with responsible investment, serving national priorities while enhancing the global competitiveness of our portfolio.”

Cliff Zhang, Chairman and CEO of Templewater, said: “Our partnership with Future Fund Oman to launch this initiative reflects our shared vision for a cleaner, more resilient energy future. By opening our Muscat office, we are reinforcing our commitment to the region and working with the fund to deliver transformative projects. We believe in Oman’s progressive investment environment and are dedicated to scaling technologies that drive both climate impact and economic returns. This launch also represents deeper financial strategic ties between Hong Kong and the GCC.”

The fund is expected to attract global strategic partners and institutions in clean energy and green technologies, thereby fostering innovation, supporting start-ups, and reinforcing Oman’s efforts to address climate change challenges.

It also aligns with Oman’s national commitment to achieve net zero emissions by 2050.

The collaboration between Future Fund Oman and Templewater builds on high-level discussions between Oman, represented by OIA, and the Government of Hong Kong.

© ZAWYA