OQ Alternative Energy, or OQAE, a subsidiary of the global energy investment group OQ, has announced the launch of Oman’s first large-scale Superesco project, marking a major milestone in the nation’s journey toward its net-zero 2050 targets.
The Superesco model, which stands for Super Energy Service Company, is a performance-based financing mechanism that allows organizations to implement comprehensive energy efficiency upgrades with the costs covered entirely by the guaranteed future energy savings.
Focus on OQRPI facilities:
OQAE will utilize this model to implement extensive energy efficiency upgrades across the facilities of OQ Refineries & Petroleum Industries (OQRPI). These improvements include equipment replacement, system optimization, and various operational enhancements designed to boost asset performance while slashing energy consumption.
The project is expected to deliver significant and measurable environmental and financial returns.
Impact on emissions and savings:
The initiative is projected to generate annual savings of 22.5 GWh (Gigawatt-hours) and will result in a corresponding reduction of 9.4 kilotons of $\text{CO}_2$ emissions. This dual benefit—reduced operating costs and lower carbon output—supports Oman’s wider decarbonization and sustainability objectives.
Ghalib Al Maamari, Acting CEO, OQAE, hailed the launch as a “turning point for energy efficiency in Oman.” He said that by introducing the scalable Superesco model, which funds itself through guaranteed performance, OQAE is “setting a national benchmark for industrial decarbonization.”
Self-financed, full-lifecycle management:
OQAE is acting as the sole developer, investor, and project manager for the initiative, overseeing the full lifecycle from feasibility studies and tendering through to implementation and performance verification. This approach ensures that OQRPI facilities can unlock their energy efficiency potential without needing upfront capital expenditure.
The implementation phase is slated for completion within twelve months, after which a rigorous performance verification phase will begin, strengthening the foundation for Oman’s transition toward a sustainable, low-carbon economy.
