Future Fund Oman and Templewater Initiate Energy Transition Fund in the Sultanate

Future Fund Oman and Templewater Launch the Sultanate's First Energy Transition Fund

In a pivotal move for the future of sustainable energy in Oman, Future Fund Oman (FFO) in partnership with Templewater, a prominent alternative asset manager based in Asia, has established the Sultanate's inaugural Energy Transition Fund. This groundbreaking initiative is aimed at enhancing investment in energy transition projects that are in alignment with Oman’s Vision 2040 and its targets for Net Zero by 2050.

This new Energy Transition Fund has been launched with a robust initial capital base of $200 million. This figure is a combination of a $100 million commitment from FFO, complemented by an equal investment from Templewater. This financial structure is intended to act as a catalyst to attract further investments, facilitating the growth of significant, scalable investment opportunities that resonate with the national strategic goals.

The primary focus of the Fund encompasses high-impact sectors that include clean molecules, energy storage, e-fuels, smart mobility, renewable energy, and green data centers. Leveraging its extensive global network, Templewater plans to introduce innovative solutions into the Omani market, aiming to stimulate economic development and attract foreign direct investments into critical areas of the economy. This synergy also positions Oman's aspirations for diversifying its economy in a sustainable manner at its forefront.

His Excellency Abdulsalam Al Murshidi, the President of Oman Investment Authority, has expressed that this partnership significantly reinforces Oman’s strategic positioning as a regional hub for clean energy. According to him, “OIA seeks to attract expertise and global best practices to support Oman's aspiration to become a leading player in clean energy solutions.” He added that the Fund is designed to generate sustainable financial returns while also positively influencing climate change.

The establishment of the Fund underscores Templewater's expertise in the energy sector. Cliff Zhang, the Chairman and CEO of Templewater, remarked, “We are honored to partner with FFO to co-develop flagship energy transition projects.” He further emphasized the commitment to localize advanced technologies in Oman and highlighted the favorable business environment that the Sultanate offers for such innovative initiatives.

Oman is increasingly recognized as a potential leader in energy transition efforts and advanced manufacturing, supported by landmark export agreements with international corporations. With a stable investment climate and a strategic geographic location, Oman provides a solid foundation for fostering long-term partnerships and capital investments. The new Fund not only aims to boost local economic activity but also to place Oman on the global map as a destination for sustainable energy solutions.

Additionally, the collaboration between Future Fund Oman and Templewater signifies a commitment to addressing climate change and facilitating international investments in vital sectors of Oman's economy. The expectations are high; the Fund is positioned to offer a de-risked and governance-ready platform for investors, driving forward the expansion of the energy transition sector in Oman.

In conclusion, this landmark initiative sets the stage for Oman to evolve as a significant contributor to sustainable energy practices, showcasing its ambition to align economic growth with environmental stewardship. The Energy Transition Fund aims not only to achieve healthy financial returns for investors but also to act as a vehicle for impactful climate initiatives that could transform the energy landscape in Oman.

About Future Fund Oman

Established under the guidance of His Majesty Sultan Haitham bin Tarik, the Future Fund Oman is grounded in a capital base of OMR 2 billion. It offers unique funding opportunities to select partners that are interested in promoting economic advancements in Oman.

About Oman Investment Authority

Oman Investment Authority serves as the Sultanate’s investment arm, charged with the responsibility of managing and growing national assets both locally and abroad. Its diverse investment portfolio spans various sectors, thereby playing a crucial role in Oman's goal of becoming a more attractive investment hub.

About Templewater

Founded in 2018, Templewater specializes in alternative asset management across Asia, focusing on private equity and sustainable energy transition investments. The firm aims to empower businesses through financial and operational expertise, accelerating the move towards a cleaner and greener future.