Oracle Power cleared to build 1.3-GW renewables hub in Pakistan

Oracle Power PLC (LON:ORCP) announced on Wednesday that it has received a nod from the local environmental authority in connection with its plan to build a proposed 1.3-GW hybrid renewables complex in southern Pakistan.

The planned scheme envisages the construction of an 800-MW solar site and wind power generating capacity of 500 MW in the village of Jhimpir in Sindh Province.

The British firm said today that it has received a "no objection certificate" (NOC) from the Sindh Environmental Protection Agency (SEPA) based on the initial environmental examination (IEE) report. The latter is part of the environmental and social impact assessment (ESIA) for the project which the company launched earlier this year.

“We are very pleased to receive SEPA's NOC for the construction of the project, as it meets an important condition for potential financing of the project and marks another important milestone in the development of our renewable energy project in Pakistan,” Oracle’s CEO Naheed Memon noted.

The SEPA nod comes shortly after earlier this month Oracle Power announced the start of a transmission and grid interconnection study.

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