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Oracle Power upbeat on study into proposed Pakistan hydrogen project
(Sharecast News) - Oracle Power announced the successful completion of a comprehensive technical and commercial feasibility study on Tuesday, conducted by China Electric Power Equipment and Technology (CET), a wholly owned subsidiary of State Grid Corporation of China (SGCC), along with Shanghai Investigation, and Design and Research Institute (SIDRI). The AIM-traded firm said the study pertained to the proposed hybrid renewable power plant for its green hydrogen and green ammonia project in Pakistan.
It said the project, being developed by a joint venture company, was aiming to establish a 400 MW green hydrogen production facility with an annual output of 55,000 tonnes of green hydrogen.
The renewable power facility would be situated in the designated wind corridor within the province of Sindh in southern Pakistan.
It said the completed study indicated that the project would involve the deployment of 800 MW of solar - an increase from the original 700 MW - as well as 500 MW of wind power and 450 MWh of battery energy storage to support green hydrogen production.
Notably, the study categorised the solar energy resource at the site as grade A, reflecting its high richness.
Beyond technical assessments, the study also addressed regulatory and environmental considerations during the construction phase.
The proposed location in the Thatta district of Sindh province, within the Gharo-Jhimpir wind corridor, would position the plant for potential future green hydrogen production and supply to Pakistan and neighbouring economies.
Oracle said it envisioned Pakistan becoming a significant player in the global green hydrogen market by capitalising on its abundant land and substantial renewable resources.
In line with the project's evolution, Oracle Energy and CET were actively exploring safe and cost-effective systems for green hydrogen shipment and transportation.
The board said Karachi's robust infrastructure, featuring two world-class ports, offered a feasible gateway for supplying hydrogen to potential buyers across various regions.
"This study for 1.3 GW of renewable power at our site in Jhimpir contributes significantly to further de-risking the project and provides a clearer pathway for accelerated development activities," said chief executive officer Naheed Memon.
"We continue to work on the completion of the grid interconnectivity feasibility studies in collaboration with SGCC, as well as geotechnical and environmental studies, which will follow soon after, leading us into the FEED stage and future confirmation of potential off-take and financing arrangements."
At 1028 GMT, shares in Oracle Power were down 5% at 0.03p.
Reporting by Josh White for Sharecast.com.
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