Oracle Power invests $1.8m in Pakistan land lease deal

Oracle Power has spent $1.8m acquiring land for its 400MW green hydrogen project in south-east Pakistan.

A 30-year lease, secured through Oracle Energy, was agreed with the Government of Sindh for the 7,000-acre site in the Thatta district and the investment covers the first decade of the lease, with future payments due in 2033 and 2043.

Oracle Energy’s flagship Green Hydrogen Project is targeting annual production of 55,000 tonnes of Green Hydrogen (equivalent to the production of 150,000kg of hydrogen per day).  

The company’s partner, HH Sheikh Ahmed Dalmook Al Maktoum, who owns 70% of Oracle Energy through Kaheel Energy, is an active investor and developer of a number of power generation projects across the region.

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