Oman's OQ to Assess 500-MW Solar Project in Angola

Oman's OQ Alternative Energy will assess the potential for a 500-megawatt solar park with co-located battery storage in Angola, under a framework agreement signed with the country's Ministry of Energy and Water.

The Memorandum of Cooperation will pave the way for executing the project, which is set to be developed under the independent power producer (IPP) commercial model, a structure in which a private company builds, owns and operates a power plant and sells the electricity generated, typically under a long-term contract with a utility or government.

OQ did not disclose further details about the proposed project's timeline or cost.

Parent company signs separate deal with Sonangol

Separately, OQ Alternative Energy's parent company, energy investment group OQ, signed another Memorandum of Cooperation with the Angolan government on behalf of state-owned national oil company Sonangol.

That agreement gives OQ the right to evaluate potential collaborations across upstream oil and gas exploration and production, liquefied natural gas (LNG) and fertilisers in Angola, extending the company's engagement with the country beyond renewable power into its broader energy and industrial sectors.

OQ operates in 17 countries globally and already has a presence in Africa. Earlier this year, the company signed $2 billion worth of strategic agreements in Oman, including several advancing a 300-megawatt local renewables partnership with TotalEnergies and others targeting nearly 1.5 gigawatts of new clean energy capacity, part of a broader push by OQ to expand its renewable energy portfolio both at home and abroad.

How quickly the solar park assessment progresses, and whether it leads to a formal investment decision, is likely to depend on the findings of the technical and commercial studies now expected to follow under the framework agreement.