Oman to offer tax waivers and incentives in renewable push

Oman is studying offering tax waivers and other incentives to attract investments and localised manufacturing opportunities across the value chain of the new “green energy” industry, according to a local media report.

Some of the proposed incentives were recently shared by a high-level delegation representing a key forum held in London, UK, Oman Daily Observer reported.

Green energy projects with an aggregated renewable energy capacity of around 30 gigawatts (GW) are currently in the pipeline for implementation across the country.

Incentives for green energy production-related activities could include tax exemption for green hydrogen output and end products.

Additionally, investors may be entitled to receive a refund on import duty paid on goods used to produce green hydrogen.

Another proposed incentive is low-interest loans for industries constructing large-scale renewable energy solar or wind schemes, as well as facilities to produce green hydrogen.