Oracle Power, PowerChina team up on 1-GW solar project in Pakistan

• UK coal as well as gold mining projects developer Oracle Power PLC (LON: ORCP) and also Power Construction Corporation of China (SHA:601669), likewise called PowerChina, have actually agreed to partner in the potential joint development of a 1-GW solar project in the desert of southeastern Pakistan.

The Thar Solar Project will certainly be based upon the unutilised land at Oracle's Thar Block VI coalfield in the Sindh Province, which lies concerning 250 kilometres (155.3 miles) from the suggested site of the business's green hydrogen project in the area.

The center is anticipated to be outfitted with around 1.5 million solar (PV) panels, providing an installed capacity of 655 watts per panel and also creating around 1.7 billion kWh each year, a statement claimed on Wednesday.

Oracle has actually already acquired conditional approval from the regional Sindh government to construct solar plants at its 66.1-square-kilometre Thar Block VI.

The power to be produced from the solar plant could be infused into the nationwide grid or sold to the grid of a private distributor. It might also be utilised to minimize the carbon footprint at other coalfields within the Thar Coal Power Project.

Under the teamwork agreement, the Chinese companion will aid Oracle study the expediency of the project and also coordinate deal with the government of China. The UK-based firm, in turn, will work on safeguarding the funding of the project and also coordinate ongoing negotiations with the governments of Sindh and Pakistan.

"We expect functioning carefully with our companions to swiftly establish ourselves as front runners in the production of sustainable power and also green energy solutions in Pakistan as well as in the broader region," Oracle's CEO Naheed Memon said in the statement.

The UK-based firm, which is focused on Western Australia and Pakistan, is additionally servicing a 1.2-GW solar, wind and green hydrogen project in Sindh.