Solar module. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
February 4 (Renewables Now) - The Hungarian government will support the construction of a solar plant in Oman with investment costs estimated at EUR 10 million (USD 11.28m).
A deal was signed on Wednesday during a visit of Hungary’s Minister of Foreign Affairs and Trade Peter Szijjarto to the sultanate, state-owned Oman News Agency ONA said.
More details about the solar project were not disclosed.
At a joint press conference with Oman’s Foreign Minister Sayyid Badr Al Busaidi, Szijjarto said that the economic relations between the two countries are based on the strategic cooperation between the Oman Oil Marketing Company and Hungary's oil and gas major MOL (WSE:MOL) and now companies from the European country will get involved in Oman's renewables sector.
During the visit, government officials of the two countries held meetings to discuss cooperation in the area of energy, trade, higher education, tourism and investment in renewable energy.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.