Oracle Power Plc (the international natural resources project developer) and PowerChina International Group Ltd have signed a non-exclusive cooperation agreement to develop a green hydrogen production plant in Pakistan.
The partners will jointly set up a 400 MW capacity hydrogen plant to produce around 150,000 kg/day of green hydrogen. Both partners will co-operate and collaborate to explore feasible options to jointly develop the project which is subject to further feasibility studies, analysis and technological advances. The project would potentially be located in Jhimpir, Gharo or Keti Bandar in Pakistan, which has abundant renewable resources.
PowerChina will conduct a technical pre-feasibility in Pakistan and assist in arranging to finance and provide equity if required. Oracle will support in developing partnerships and arranging to fund the development of the project.
The project would supply green hydrogen to domestic and export markets. The partners will also explore a cost-effective and safe system for the shipment and transportation of green hydrogen.
PowerChina has reported its interest to its government in China, and the project is expected to receive bilateral support through the CPEC programme. Both parties have begun collaborating with their respective governments for required support. The cooperation will also seek government support for establishing a green hydrogen economy in Pakistan and ensure green energy security.
Naheed Memon, CEO of Oracle, said, “We explore options of jointly developing a green hydrogen facility in Pakistan, which would represent the first production facility of its kind in the country.”