Plans firm up for Oman’s first large-scale energy storage project
Conrad Prabhu
Business Correspondent - Oman Daily Observer; Magazine Editor - ENERGY OMAN
OMAN DAILY OBSERVER / 25 FEB 2025
CONRAD PRABHU
MUSCAT: Key agreements are set to be signed soon, paving the way for the establishment of the first commercial-scale energy storage project in the Sultanate of Oman.
The agreements will build on a landmark MoU signed in July 2023 by Energy Dome, an Italian-based tech start-up, with Takhzeen, a 100 per cent subsidiary of publicly traded Omani firm ONEIC. Milan-headquartered Energy Dome’s revolutionary CO2-based energy storage battery system enables the round-the-clock dispatch of renewable electricity from solar and wind sources.
In remarks to the Observer, Paul Smith, SVP Global Sales – Energy Dome, described the project as a “game-changer” for Oman’s Net Zero goals.
“This is a big, commercial-scale project that will make a meaningful contribution to Oman’s energy transition. It is set to be the first energy storage project of its kind in the Middle East based on CO2 battery energy storage technology. A site has been identified for the establishment for this project.”
Significantly, the Omani government, represented by sovereign wealth fund Oman Investment Authority (OIA), is already an investor in Energy Dome. Two years ago, OIA’s venture capital arm, IDO Investments, was among a number of international companies that participated in a financing round to raise funding for the firm. Additionally, an MOU signed by OIA with Energy Dome seeks to explore potential areas of collaboration in Oman.
At the heart of Energy Dome’s proprietary technology is a long-term and sustainable battery energy storage solution. 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 utilizing Energy Dome’s CO2 battery system and harnessed when required, thereby eliminating the intermittency issue associated with renewable energy.
According to Smith, the partnership with Takhzeen will help deliver a ‘hybrid project’ combining solar power generation with battery storage. “Green electricity from the adjacent solar power plant will charge the battery during the day, and then discharge that energy at night or during those parts of the day when supply from the grid is pricier.”
Energy Dome, as the supplier of the technology, will deliver the entire battery storage plant for the Oman project. Takhzeen, for its part, will install the plant, while owning and operating it for a period of 30 years. Green electricity from the project will be offered to an offtaker.
Furthermore, as the first energy storage project of its kind in Oman, Energy Dome says it is committed to leveraging the local supply chain during its development and operation. “This is important because, first of all, the nature of the system is such that we’re going to use a lot of components that are already widely used in the oil and gas, and conventional power sectors. Besides, we can work with existing, well-qualified, well-established Omani companies in that sector.”
Energy Dome’s battery storage project is slated for commissioning in early 2027.