Oracle Power PLC (LON:ORCP) has achieved a significant milestone in its renewable energy endeavors, securing approval from the local environmental authority for its proposed 1.3-gigawatt (GW) hybrid renewables complex in southern Pakistan. The project, which aims to combine solar and wind power generation, is poised to contribute substantially to Pakistan's renewable energy goals.
The ambitious scheme entails the development of an 800-megawatt (MW) solar site alongside a 500MW wind power generating capacity in the village of Jhimpir, located in Sindh Province. Oracle Power, a British firm, has received a “no objection certificate” (NOC) from the Sindh Environmental Protection Agency (SEPA) board, following the submission of the initial environmental examination (IEE) report as part of the environmental and social impact assessment (ESIA) for the project initiated earlier this year.
Oracle's CEO, Naheed Memon, expressed satisfaction with the SEPA's approval, stating, “We are very pleased to receive SEPA's NOC for the construction of the project, as it meets an important condition for potential financing of the project and marks another important milestone in the development of our renewable energy project in Pakistan.”
The issuance of the NOC by SEPA underscores the project's compliance with environmental regulations and paves the way for further progress in securing financing and advancing construction plans. This milestone follows closely on the heels of Oracle Power's announcement earlier this month regarding the commencement of a transmission and grid interconnection study, highlighting the company's commitment to ensuring the seamless integration of the renewables complex into Pakistan's energy infrastructure.
With Pakistan striving to enhance its renewable energy capacity and reduce dependence on fossil fuels, Oracle Power's renewables project represents a significant step towards achieving these objectives. The hybrid nature of the complex, combining solar and wind power generation, underscores its potential to contribute to Pakistan's energy diversification efforts and drive sustainable development in the region.
