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The new fund will target green fuels, renewables, and smart mobility projects. Image courtesy: X account of Oman News Agency.
Oman has launched its first investment fund dedicated to the energy transition, in a joint initiative between Future Fund Oman, managed by the Oman Investment Authority (OIA), and China-based Temple Water.
The new fund has an initial capital of 77 million Omani riyals ($200 million), with each party contributing equally, according to an Arabic language post by the state-owned Oman News Agency (ONA) on the social media platform ‘X’.
The fund will target strategic sectors aligned with Oman’s decarbonisation and diversification goals, including green fuels, low-emission data centres, energy storage, smart mobility, and renewable energy, the post said.
Hong Kong-headquartered Temple Water is an Asia-based private equity investor and alternative asset manager focussed on mid-market buyout and energy transition and decarbonisation growth equity, according to its website.
(Writing by SA Kader; Editing by Anoop Menon)
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