The Government of Sindh has agreed to a long lease with Oracle Energy for a period of 30 years for a land package totaling 7,000 acres in south-east Pakistan, where Oracle Energy would build its flagship green hydrogen project.
His Highness Sheikh Ahmed Dalmook Al Maktoum, the company’s partner, is an active investor and developer of several power production projects around the Middle East, Asia, and Africa. He holds a 70% ownership stake in Oracle Energy through Kaheel Energy FZE.
With an initial capacity of 55,000 tonnes yearly, Oracle Energy’s green hydrogen project would be the nation of Pakistan’s first green hydrogen generator and one of the biggest hydrogen projects in the Middle East and Asia.
For the first 10 years of the Lease Acquisition, which is for a minimum of 30 years, Oracle Energy has paid an initial consideration of US$1,830,000 (divided 70/30 between His Highness Sheikh Ahmed Dalmook Al Maktoum and Oracle Power, respectively). The next payments, which are due in 2033 and 2043 and would double every ten years, are made after every subsequent ten-year term.
The project’s site in Sindh is situated in a strategically important area of southern Pakistan called the Gharo-Jhimpir wind corridor, where more than 1 GW of installed renewable energy has been put into service, with 350 MW of that installed capacity located within a 10-kilometer radius of the project.
Beyond having access to Pakistan’s national grid, the Project is also in close proximity to established infrastructure, such as Karachi’s largest freshwater reservoir, which provides access to water, as well as established rail and road networks that connect to Pakistan’s two biggest ports, Karachi Port and Port Qasim.
The primary green hydrogen project of Oracle Energy aims to produce 55,000 tonnes of Green Hydrogen annually. To ensure that hydrogen is produced continuously throughout the year, the Project aims to build solar and wind power facilities with a combined output of 1.2 GW hybrid power from proposed capacity 700MW solar and 500MW wind plants, as well as a battery storage park of up to 450 MW.