Clifford Chance

Clifford Chance advises Actis on joint venture with Fortescue to develop major green hydrogen project in Oman

Global law firm Clifford Chance has advised long-standing client Actis, a leading global investor in sustainable infrastructure, on a joint venture with Fortescue, a global integrated green energy, metals and technology company, in connection with the bid and subsequent award for the rights to develop, build, own and operate a large green hydrogen project in Oman.

The Actis-Fortescue consortium has been awarded exclusive rights to a high-quality site by Hydrogen Oman SPC, an entity founded by the Omani government to orchestrate and deliver the nation’s green hydrogen strategy. The large-scale project, which is currently in feasibility stage, has the potential to produce up to 200,000 tonnes of green hydrogen per year and is expected to involve construction of up to c.4.5GW of wind and solar renewable energy resources to power electrolysers which will produce the green hydrogen. Actis and Fortescue currently intend for the hydrogen to be sold to local industrial offtakers, as well as processed into derivatives (such as green ammonia) for export via the port of Salalah, Oman.

The Clifford Chance team was led by clean energy M&A partner Nicholas Hughes with support from senior associate Samuel Monk and associate Ola Popoola.

Clifford Chance has a market leading, globally integrated clean hydrogen team which is led by Anthony Giustini, a senior partner of the firm's energy and infrastructure group. The team is engaged on hydrogen mandates across the globe including large scale production and export projects, cluster projects, green steel projects and hydrogen storage and transportation projects.