- The green hydrogen facility will be powered by 1.2 GW of wind and solar energy.
- Oracle informed that it has received a ‘comprehensive permission’ from the State Government of Sindh to develop the facility
A stock market filing by Oracle Power has revealed that the Sindh state government of Pakistan has accorded ‘comprehensive permission’ to Oracle Energy for the development of a 400 MW green hydrogen project. The carbon-free hydrogen facility will be supplied with electricity by 500 MW of wind energy and 700 MW of solar facilities that will be supported with an energy battery system. Once the facility is on full scale operations, about 55,000 tonnes of green hydrogen will be produced annually.
Oracle Energy has neither given a name to the green hydrogen project nor has it revealed how the green hydrogen produced in the maiden facility in Pakistan will be utilized.
Oracle Energy is a joint venture, 70 per cent of which is owned by Sheikh Ahmed Dalmook Al Maktoum, who belongs to the royal family of Dubai. The remaining 30 per cent is owned by London-based Oracle Power.
According to the filing, Oracle has received a letter from the provincial government of Sindh (Directorate of Alternative Energy) which informed the renewable energy developer that a Letter of Intent will be issued for the set up of a 1,200 MW hybrid solar-wind, green hydrogen-power project subject to the provision of a $600,000 performance guarantee by the company.
Naheed Memon, CEO, Oracle Power, states, “I am delighted to report that our green hydrogen initiative in Pakistan has received confirmation that it will receive the consent of the Government of Sindh through the issuance of an LOI, subject to the provision of a bank guarantee.”
As per reports, the government decision implies development of the green hydrogen facility and also sale of excess energy to third parties.
As per Oracle Power, the company is an “international power and natural resource project developer” that has special focus on the markets of Pakistan and Australia. The company says that it presently owns extraction rights to 1.4 billion tonnes of lignite coal in Sindh, Pakistan. Oracle will also be developing a 1.32 GW coal power plant at the same location.