Oracle raises £500,000 for Pakistan green hydrogen project

London-listed Oracle Power has raised £500,000 ($601,800) to support its green hydrogen project in Pakistan, it said on February 6.  

The project would be Pakistan's first commercial green hydrogen production facility, with an initial capacity of 55,000 metric tons/year, the company said. Oracle said that the project site in Sindh province is near the Gharo-Jhimpir wind corridor, where over 1 GW of renewable power has been constructed and commissioned.

Oracle intends to supply the output to local industries supporting manufacturing, fertiliser production, gas utilities, transport and power generation, and also to export to the Middle East, Europe, China and Asia.

The project plans the development of solar and wind power facilities with a combined output of 1.2 GW hybrid power from a proposed capacity 700 MW solar and 500MW wind and battery storage to ensure the continuous production of hydrogen throughout the year.