MUSCAT, MARCH 31
A Memorandum of Understanding (MoU) signed recently by well-known Omani firm Nafath Renewable Energy with Takhzeen, a 100% subsidiary of publicly traded firm ONEIC, will help introduce renewable energy supply backed by battery energy storage, particularly in rural parts of the Sultanate of Oman.
The MoU seeks to leverage the respective strengths and domain expertise of the two partners to provide renewable and sustainable energy supply to companies and organisations in line with their energy transition and Net Zero goals.
Muscat-based Nafath, established in 2013, is one of Oman’s oldest homegrown players in the small-scale solar PV and sustainable energy sector. Takhzeen, on the other hand, was launched last year to offer cutting-edge sustainable energy solutions to the Omani market. It has also tied up with Energy Dome, an Italian-based tech start-up behind the revolutionary CO2 Battery — an energy storage system that makes solar and wind power despatchable 24/7.
“Our recent MoU with Nafath Renewable is all about establishing renewable energy projects along with battery energy storage projects, working on potential projects, projects targeted in remote locations such as rural areas and military camps,” said a Takhzeen representative in remarks to the Observer.
“This partnership is geared towards the development of renewable energy storage projects, aligning with Oman Vision 2040 and the broader sustainability objectives of the Sultanate of Oman. The MoU signifies a collaborative effort between Nafath Renewable Energy Company and Takhzeen Oman Company to bolster the renewable energy landscape in Oman,” added Nafath in a post.
At the heart of the partnership’s differentiated offering is long-term and sustainable battery energy storage based on Energy Dome’s proprietary technology. The battery harnesses the unique characteristics of liquid CO2, maintained under pressure at ambient temperatures, to store energy cost-effectively as part of a closed thermo-dynamic process.
Thus, surplus solar energy, for example, can be stored during the day utilising Energy Dome’s CO2 battery system and harnessed when required, thereby eliminating the intermittency issue associated with renewable energy.
Given its potential to mitigate renewable energy intermittency challenges, Energy Dome has secured crucial backing from Oman for its technology. Last July, the Milan-headquartered company listed IDO Investments, the venture capital arm of Oman Investment Authority (OIA), as among a number of international companies that had participated in a financing round to raise funding for the start-up. Energy Dome also revealed that it had signed an MOU with Oman Investment Authority to explore potential areas of collaboration in Oman.
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