Jindal Renewables and OQ Alternative Energy sign JDA
In a landmark move to accelerate Oman’s transition to clean energy, Jindal Renewables, part of the $25bn India-based Jindal Group, and OQ Alternative Energy (OQAE), the Sultanate’s designated national champion for renewable energy, have signed a Joint Development Agreement (JDA) to collaborate on the development, ownership, and operation of large-scale renewable energy assets in the country.
The agreement was formally signed by Harssha Shetty, CEO of Jindal Oman, and Najla Zuhair Al Jamali, CEO of OQ Alternative Energy, at a ceremony held in Muscat during Oman Sustainability Week.
This strategic partnership marks a significant milestone in supporting the goals of Oman Vision 2040, the national roadmap for economic diversification, sustainability, and green industrialisation. Both companies expressed their deep gratitude to His Majesty Sultan Haitham bin Tarik for his visionary leadership in guiding Oman’s transition toward a knowledge-based, low-carbon economy. The partnership reaffirms their commitment to contributing meaningfully to His Majesty’s vision of a more sustainable and prosperous Oman.
Under the JDA, both companies will co-develop Integrated Energy Valleys (IEVs) — a flagship configuration pioneered by Jindal Renewables — to deliver 24×7 firm, dispatchable renewable power by combining solar, wind and advanced energy storage technologies.
As part of its future roadmap, Jindal Renewables plans to develop the first Integrated Energy Valley (IEV) in Oman to deliver renewable power to a 5 MTPA green steel plant proposed by Jindal Steel Duqm, a sister concern of Jindal Renewables. Additionally, a separate IEV is planned to supply 300 MW of continuous clean power to the operational 2.4 MTPA Jindal steel plant in Sohar, enabling the decarbonisation of Jindal’s existing industrial footprint in the Sultanate.
Speaking on the occasion Harssha Shetty, CEO of Jindal Oman, said: “This agreement is a powerful endorsement of our shared commitment to decarbonising heavy industries and creating scalable, resilient clean energy ecosystems. Together with OQAE, we aim to make Oman a leading player in the global green energy value chain.”
Najla Zuhair Al Jamali, Chief Executive, OQ Alternative Energy, commented: “This agreement underscores OQAE’s commitment to accelerating investable, utility-scale renewable energy projects that align with Oman’s long-term decarbonisation agenda. By enabling clean power for strategic industries, we are not only supporting economic diversification under Vision 2040, but also creating tangible opportunities for sustainable investment and value creation in the region’s energy transition.”
Jindal Renewables is committed to fostering diversity, inclusivity, and in-country value, and brings deep capabilities in project development, finance, execution, and asset management to the partnership.
Formerly known as Vulcan Green Energy (VGE), Jindal Renewables is the clean energy arm of the Jindal Steel. It is focused on developing utility-scale renewable energy projects to power green manufacturing and support industrial decarbonisation, with special emphasis on energy storage and integrated solutions like the IEV.
Date: 10 May 2025
Source: Jindal Renewables
