Oracle Power PLC, a developer of green energy projects, has announced a partnership with PowerChina International Group, a hydropower, electricity, and infrastructure construction company, to explore the potential development of the Thar Solar Project in the Sindh Province, Pakistan. The proposed project will have a capacity of 1 GW and will be developed on unutilized land at Thar Block VI, which is owned by Oracle.
As per the agreement, PowerChina will provide support to Oracle for a comprehensive feasibility study, including surveying, investigation, and other study works for the Thar Solar Project. Additionally, PowerChina will also help arrange financing for the project if required, while Oracle will lead negotiations with the Government of Sindh and the Government of Pakistan.
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“The proposed development of the Thar Solar Project provides Oracle with the opportunity to not only develop a sizeable renewable energy project in Pakistan but also to bring a long-term and sustainable business to our Thar Block VI asset,” said Naheed Memon, CEO of Oracle.
The Thar Solar Project aligns with Oracle's focused strategy of developing renewable power generation projects. The power produced from the project can be integrated with the national grid to meet urgent national demand for renewable energy or be sold to the grid of a private distributor. It could also be utilized to reduce the carbon footprint at the Block I and II Thar Coal Power Project, which is currently operating.
“The development, along with the significant progress being made with our Green Hydrogen project in the Sindh Province, underpins Oracle's core strategy of focusing on the production of green energy,” added Memon. “We look forward to working closely with our partners to swiftly establish ourselves as front runners in the production of renewable power and green energy solutions in Pakistan and in the broader region.”
The Energy Department, Government of Sindh, has provided conditional permission to Oracle, subject to final approval from the Sindh cabinet, for the development of solar power plants at Thar, Block VI.
The partnership with PowerChina is a significant step forward for Oracle in its mission to contribute to a sustainable future by developing green energy solutions in Pakistan and the broader region. As the demand for renewable energy grows globally, it is crucial to continue investing in projects that support sustainable economic development while reducing carbon emissions.
