Oracle Energy, a subsidiary of the British energy company Oracle Power, has signed a 30-year land lease agreement covering an area of 7,000 acres (28 km2) in the Thatta district of Sindh with the government of the Sindh province, in southern Pakistan, for a complex which will hold a 1.2 GW hybrid renewable park, a battery storage system and a green hydrogen production plant. The complex will comprise an electrolyser powered by 700 MW of solar and 500 MW of wind parks, as well as 450 MW of battery storage. The hydrogen plant’s initial production capacity is expected to reach 55 kt/year, and the produced green hydrogen will be exported as well as supplied to the local manufacturing, fertiliser, transportation and power industries. Oracle Energy has paid US$1.8bn for the first 10 years of the land lease acquisition; payments will be made for every further 10-year periods (next payments in 2033 and 2043) and will double every 10 years.
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