PDO pledges to continue with renewables despite GlassPoint liquidation
GlassPoint Solar was a technology company working with PDO on renewable-powered enhanced oil recovery
Petroleum Development Oman (PDO) has pledged to push ahead with its renewable energy goals despite the recent liquidation announcement by its technology partner GlassPoint Solar due to the coronavirus pandemic.
GlassPoint Solar, a US-based startup, uses solar energy to generate steam for enhanced oil recovery and was a partner in PDO's Miraah project, a 1,021 MW solar farm in the Amal field. Royal Dutch Shell and the Omani sovereign wealth fund, State General Reserve Fund (SGRF), and key shareholders in GlassPoint Solar.
"We regret that GlassPoint Solar Inc has gone into liquidation at a time of considerable global business distress and uncertainty resulting from the COVID-19 pandemic," PDO said in a statement.
"PDO is proud of the flagship Miraah project delivered using GlassPoint technology in our Amal solar steam operations. PDO is fully equipped to operate the solar facilities to its full potential and remains firmly committed to renewable energy and its ongoing transition to a fully-fledged energy company."