Oman’s OQ + Vulcan Green Steel partner on 3 TW clean energy project: Oman’s Vulcan Green Steel — a subsidiary of Jindal Shaeed — signed an agreement with OQ's renewables unit OQ Alternative Energy to establish a 3 TW integrated renewable energy generation project, Oman Daily Observer reports. The expected investment ticket and timeline on the 3 TW project was not disclosed.

The details: The two companies established a JV — called Integrated Energy Valley — to develop solar and wind energy farms backed by battery storage, the news outlet notes. The mega plant — which will be located in the Special Economic Zone Authority at Duqm (SEZAD) — will provide green energy to hard-to-abate sectors such as steel, around the clock.

REMEMBER- Vulcan has been making moves to decarbonize steel: Vulcan broke ground on its USD 3 bn, 5 mn ton, green steel plant in Duqm last month. Once operational in 2027, the plant is expected to cut emissions by 85% compared to conventional steel factories. Vulcan is also exploring the establishment of a 5-7 mn sqm green steel complex in Egypt’s Suez Canal Canal Economic Zone, with the same annual production capacity of 5 mn ton annually. If the project moves forward, the Omani firm plans to export the low-carbon steel to African and European markets.

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