Muscat – Oman Investment Authority (OIA) has launched Energy Transition Fund  with China’s Templewater, signalling a deepening of Oman–China investment cooperation in the clean energy sector. The announcement was made on the sidelines of the 10th Belt and Road Summit in Hong Kong on September 10.

The fund – the first of its kind – jointly established by Future Fund of Oman (FFO) and Templewater, has a founding capital of about RO77mn. It will invest in clean electricity, clean fuels, energy storage, industrial e-fuels, smart mobility, renewable energy and low-emission data centres. Between five to ten projects are planned during its five-year investment phase, with an additional five-year retention period. Several projects are already under advanced technical and financial evaluation.

The fund, first announced in Muscat in July, is aimed at accelerating Oman’s energy transition and economic diversification. It is also intended to strengthen Oman’s strategic cooperation with China and Gulf Cooperation Council countries in developing low-carbon industries.

Templewater has opened an office in Muscat to manage the fund’s operations and to channel capital into energy transition projects across Oman and the wider region. The move is expected to help transfer expertise to local sectors, provide training opportunities and build national capacity in emerging industries.

Nasser bin Sulaiman al Harthy, Deputy President of Operations at OIA, said, “The new investment fund with Templewater embodies the authority’s efforts to attract quality investments that contribute to supporting Oman’s transition to clean energy. Through this, sustainable projects based on transformative technologies with a long-term impact are created, consolidating the sultanate’s position as a reliable regional hub for renewable energy solutions.”

Cliff Zhang, Chairman and CEO of Templewater, said the partnership with FFO reflected a shared vision for a cleaner and more resilient energy future. He added that opening of the Muscat office underlines Templewater’s commitment to the region and its readiness to launch projects with the fund.

The fund aims to attract strategic partners and global institutions in clean energy and green technologies, support emerging companies in Oman, and advance regional and international efforts to address climate change. It also aligns with Oman’s goal of achieving net-zero emissions by 2050.