In a stock market filing released on Wednesday (August 3), Oracle Power said it has received a letter from a Pakistani provincial government, confirming it would issue a Letter of Intent (LOI) for Oracle Energy’s 1,200MW hybrid solar/wind, green hydrogen/power project.
Oracle have said, the anticipated LOI from the Directorate of Alternative Energy of the Government of Sindh is expected to approve the production of green hydrogen at its project, planned to be located in Jhimpir, Gharo or Keti Bandar in Pakistan.
Oracle Energy is a joint venture 70%-owned by prominent member of Dubai’s royal family, Sheikh Ahmed Dalmook Al Maktoum, and London-based Oracle Power.
The project in discussion was unveiled in October 2021 plans to establish 400MW of electrolysis capacity, which could see production of 150,000kg of green hydrogen per day.
Read more: 400MW hydrogen plant proposed for Pakistan
Oracle has said it plans to progress other aspects of the project’s development including technical, financial and investment parameters.
Naheed Memon, CEO of Oracle, said, “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.
“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. Such a green hydrogen plant would be able to produce up to 55,000 tonnes of green hydrogen per annum at full capacity.
“I would like to take this opportunity to thank both the Government of Sindh for its vision and recognition of the strategic importance of this project, and also His Highness Shaikh Ahmed Dalmook Al Maktoum for his support and determination to make Pakistan a green hydrogen production hub by setting up one of the largest green hydrogen production facilities in the region.”
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