Oracle Power PLC will be issued a Letter of Intent (LoI) for developing a 1,200 MW hybrid solar/wind, green hydrogen/power project in Pakistan.
The LoI is issued from the Directorate of Alternative Energy of the Government of Sindh, confirming that it will issue a Letter of Intent (LOI) regarding the hydrogen project in Pakistan, being advanced by its joint venture company, Oracle Energy Limited, subject to the provision of a US$600,000 performance guarantee by Oracle Energy.
The LOI is expected to provide that the project’s developer can produce green hydrogen from a 400 MW capacity electrolyser facility and renewable power for business-to-business usage, for possible sale to utilities and other uses. Oracle Energy plans to progress the other aspects of project development, including the project’s technical, financial and investment parameters, and the company will make further announcements in due course.
Naheed Memon, CEO of Oracle, said, “This is a defining moment for Oracle and our joint venture company, which also has the potential to transform the landscape of the energy industry in Pakistan through the setting up of a 400 MW green hydrogen production facility powered by a 1200 MW hybrid power plant.
The company will embark on detailed technical and financial feasibilities and are in advanced dialogue with technology providers, equipment suppliers and consultants. It will also advance discussions with buyers and users of green hydrogen and green ammonia in the region and Europe.