Oracle, CET ink MoU for green hydrogen project in Pakistan
ISLAMABAD, Mar. 8 (Gwadar Pro) - Oracle Power on Tuesday announced a strategic MoU with China Electric Power and Technology Co., Ltd. (CET) to develop, finance, construct, operate and maintain a green hydrogen project in Pakistan.
The MoU includes a hybrid renewable energy production and storage facility, with 700MWs of solar and 500MWs of wind power, and a battery storage park of up to 450MWs.
The planned facility, when fully commissioned, will produce an estimated 55,000 tons of green hydrogen per annum.
The MoU follows the acquisition of 7,000 acres (approximately 28.3 km²) state land by Oracle Energy on 30-year lease from Sindh government, the company said.
London-based Oracle Power plans to develop the major green hydrogen project in Tattha, Sindh province through Oracle Energy, its joint venture with Sheikh Ahmed Dalmook Al Maktoum, a member of the royal family of Dubai.
CET is a wholly-owned subsidiary of State Grid Corp. of China, with a branch in Pakistan for market development and expansion.