The project is part of Oman’s broader strategy to diversify its energy sources, reduce reliance on fossil fuels, and meet its ambitious net-zero target by 2050.
The deal, valued at €3.2 billion ($3.3billion), is the largest energy transaction in the history of the Athens Stock Exchange and one of the largest in the European renewables sector.
Located in the strategically positioned Mesaieed Industrial City, the facility will benefit from integrated infrastructure and a major port that is one of the Middle East’s largest petrochemical export hubs.
Once operational in Q3 2026, Al Ajban is expected to generate enough electricity to power 160,000 homes and reduce carbon dioxide emissions by over 2.4 million tons annually.
Kevin Richards, a former athlete and founder of several businesses, is a frequent visitor to the Middle East. He has recently been on a mission to leverage his sports background and business acumen to help unlock Bermuda’s renewable energy potential. Utility Business MENA caught up with him recently ahead of his visit to Dubai, to talk about Bermuda’s unique potential for ocean-based renewable energy and its ongoing initiatives to attract foreign investment.
