Oracle Power PLC in Pakistan has joined hands with Chinese EPC PowerChina International Group Limited for the development of 1 GW solar power plant at the company's Thar Block VI coalfield in Sindh province of the country on independent power producer (IPP) basis.
According to its website, Oracle is focused on Western Australia and Pakistan markets, and calls itself a natural resource and power project developer with interests in coal, gold mining and renewables. In Pakistan, it is also actively exploring green hydrogen space.
Oracle says the block in That desert is located about 250 kms from the company's proposed green hydrogen project site for which it is cooperating with PowerChina (see Green Hydrogen Project In Pakistan Secures Land). Recently, it also entered a memorandum of understanding (MoU) with China Electric Power and Technology (CET) for the same project.
The duo plans to either grid connect the project to the national grid on completion or sell it to the grid of a private distributor. Same power could also be used to power Oracle's operations at the Block I and II Thar Coal Power Project to reduce its carbon footprint. The miner has 30-year mining lease for Block VI through its subsidiary Singh Carbon Energy Ltd.
According to Oracle, the 1 GW solar project is proposed to be installed on the peripheral land of the mining area covering less than 25% of Block VI that extends 66.1 sq. km. It expects to deploy around 1.5 million solar panels with 655W output each, enough to generate close to 1.7 billion kWh annually.
While the solar power project still needs a go-ahead from the Sindh cabinet, Oracle says both the partners will conduct a comprehensive feasibility study including surveying, investigation and other study works for the same. Financing sources will also be arranged by the two.
"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 Memom. "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."
Pakistan is fast tracking the development of 10 GW of wind and solar power projects on the directions of Prime Minister Shehbaz Sharif, for the country to be able to save its foreign exchange on buying imported fuel.