Pakistan Land Lease Deal Boosted by $1.8m Oracle Power Investment
As Oracle Power spend $1.8m buying up land for a 400MW green hydrogen project, South-East Pakistan must utilise unique hydrogen production capabilities.
The lease, lasting 30 years, was secured through Oracle Energy and received the Government of Sindh’s sign-off. Spanning 7000 acres, the site in the Thatta district’s lease investment covers the first decade of the lease. Further funding will be required in 2033 and 2043.
As part of a wider hydrogen economy, Oracle Energy’s flagship green hydrogen project is targeting annual production of 55,000 tonnes of green hydrogen, the equivalent of 150,000kg of hydrogen per day.
Ensuring an FID is likely, there is optimism around the company’s partner’s track record of investing in hydrogen, and he is an active investor and developer in the industry.
With no current hydrogen producers in the country, Oracle Energy’s green hydrogen project would be Pakistan’s first producer of green hydrogen and aims to be one of the largest hydrogen projects in the Middle East and Asia, with an initial capacity to produce 55,000 tonnes annually.