PowerChina will support Oracle to conduct a comprehensive feasibility study, including surveying, investigation and other study works for the 1GW Thar Solar Project. The company will develop partnerships and arrange funding for the project, while PowerChina will also assist in arranging financing if required
Oracle will co-ordinate on-going negotiations with both the Government of Sindh as well as the Government of Pakistan while PowerChina will co-ordinate working with the Government of China.
Thar Block VI, located in the Thar Desert, in South-East Sindh Province, Pakistan, is owned by Oracle, through its subsidiary Sindh Carbon Energy Ltd, where it has a 30-year mining lease. The development of the Thar Solar Project is in lockstep with Oracle’s focused strategy of developing renewable power generation projects.
Oracle and PowerChina propose to develop the Thar Solar Project, with a capacity of 1 GW, on the unutilised land at Thar Block VI. The power produced from the solar setup could be integrated with the national grid to meet urgent national demand for renewable energy or be sold to the grid of a private distributor. The same power could also be utilised to reduce the carbon footprint at the Block I and II Thar Coal Power Project, which is currently operating. 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 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, Chief Executive Officer of Oracle, commenting on the proposed developed of the project. “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. 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.”
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