Sunday 14 / September / 2025
Hong Kong: Hong Kong-based private equity firm Templewater has strengthened its ties with the Oman Investment Authority (OIA) at the recently concluded Belt and Road Summit in Hong Kong.
In line with the Sultanate of Oman’s efforts to position itself as a regional and global hub for clean and renewable energy solutions, while attracting international expertise and investments, OIA announced the launch of the Energy Transition Fund — a joint initiative between Future Fund Oman and Templewater, one of Asia’s leading alternative asset management firms.
The launch was officially announced on the sidelines of OIA’s participation in the 10th Belt and Road Summit, which brought together government and business leaders to explore investment opportunities and deepen economic partnerships across Belt and Road Initiative (BRI) member countries.
Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said: “Oman has emerged as a key partner in the Belt and Road Initiative, deepening its strategic partnership with China in ways that align perfectly with Oman’s Vision 2040 for economic diversification and China’s BRI objectives.
“In recent years, this collaboration has expanded across trade, investment, energy, infrastructure, and emerging sectors such as renewables, technology, and the digital economy.”
Speaking exclusively to Times of Oman on the sidelines of the summit, Cliff Zhang, CEO & Founding Partner of Templewater HK Limited, revealed that the firm has established a local office in Muscat, with staff relocating from headquarters alongside new local hires.
“This move reflects Templewater’s long-term commitment to Oman and positions the firm as a key platform for deploying cross-border capital to advance the energy transition across Asia and the GCC,” Zhang said.
He noted that the Energy Transition Fund is a landmark initiative that underscores a bold step in accelerating the global shift to clean energy, while deepening strategic cooperation between Hong Kong, Oman, and the wider GCC.
With an initial capital base of US$200 million, the Fund will drive Oman’s energy transformation and support its economic diversification under Oman Vision 2040.
It will target high-impact sectors such as clean molecules, energy storage, e-fuels, smart mobility, renewables, and green data centres.
“We strongly believe in Oman’s progressive investment environment and are committed to scaling technologies that deliver both climate impact and commercial success,” Zhang added.
“This launch also symbolises something greater: the strengthening of financial and strategic ties between Hong Kong and the GCC. As an Asia-focused investment firm, Templewater is proud to be part of this growing momentum. The launch is also a tangible expression of Hong Kong’s role as a super-connector between mainland China, the GCC and the wider world.”
Reflecting on the company’s growing engagement in the Middle East, Zhang highlighted Templewater’s track record: “Our portfolio company, Wisdom Motor, provided Hong Kong with its first pure electric double-decker bus and hydrogen-powered double-decker bus. This success directly led to the introduction of the first batch of hydrogen buses in the UAE in November 2023.” He said that Templewater is actively working to help Middle Eastern countries achieve industrial diversification and transformation.
“Chinese companies lead globally in technology, cost efficiency, and solutions — naturally complementing the needs of the Middle Eastern market,” Zhang concluded.
