Oracle Power PLC secures and registration of land lease for green hydrogen project
Oracle Power PLC, a developer of green hydrogen production through its joint venture (“JV”) Oracle Energy Limited (“Oracle Energy”), confirms the award of the recently acquired land lease as it has now been registered in the Government of Sindh’s land registry.
This completes the acquisition of the lease by Oracle Energy of the land package of 7,000 acres (approximately 28.3 km²). The land coordinates provided in the lease delineate the land parcel on which Oracle Energy’s planned flagship Green Hydrogen Project (or the “Project”) will be located.
The parcel of land is very close to existing infrastructure including Karachi’s largest port, Port Qasim; the mainline railway, Jungshai Station; Dhabeji grid station, and the N-5 national highway. Furthermore, more than 350 MW of renewable energy power projects which have been commissioned and are linked up to the grid are within a 15 km radius.
Naheed Memon commented, “The award of the Land Lease document and its notification in the government records allows Oracle Energy to proceed towards firm agreements with financiers, off-takers and technology providers. The land awarded for the proposed development of our project is very well located, and the availability of critical infrastructure in close proximity to our land package makes for easier connectivity and transport. It is expected that the suitability of the location, will greatly increase the commercial and technical viability of the Green Hydrogen production plant.”