PowerChina and Oracle Power cooperate to develop 1GW solar farm in Pakistan
K-based green energy developer Oracle Power entered a cooperation deal with PowerChina to jointly develop a 1 gigawatt (GW) solar-independent power production plant in Sindh Province in Pakistan.
In a statement, Oracle Power said the Proposed Thar Solar Project will be developed on its unused land at Thar Block VI, occupying less than 25% of the block on the periphery of the mining area.
The power plant will be composed of around 1.5 photovoltaic panels which could generate around 1.7 billion kilowatt-hours of power yearly.
Under the agreement, PowerChina will support Oracle in conducting a comprehensive feasibility study which includes surveying, investigation, and other related works.
Oracle, meanwhile will arrange the funding through partnerships for the projects, whilst PowerChina will also assist in arranging it if needed.
"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 Oracle CEO Naheed Memon.
“This 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,” Memon added.