7
May 2024
Oracle Power
PLC
("Oracle" or the
"Company")
Commencement of Transmission
and Grid Interconnection Study for Renewable Power
Plant
Oracle Power PLC (AIM: ORCP), an
international project developer, together with its joint
venture company, Oracle Energy Limited ("Oracle Energy"),
a developer of green energy projects, is pleased to announce the
commencement of the Grid Interconnection Study (the "Study") for
its proposed 1.3GW renewable power plant in Jhimpir, Sindh
Province, Pakistan (the "Power Plant"). Oracle Energy, in
collaboration with its joint development partner, China Electric
Power Equipment and Technology Co., Ltd. ("CET"), a subsidiary of State Grid
Corporation of China ("State Grid China"), has engaged Power
Planners International (Pvt.) Ltd ("PPI"), a distinguished company
renowned for its expertise in power system analysis and planning,
particularly in the domain of grid interconnection studies for
renewable energy projects, to undertake the Study.
The Study, paid for by State Grid
China, encompasses a comprehensive evaluation for 1.3GW of
renewable power, including an 800MW solar project, a 500MW wind
project, and a suitable battery energy storage system. The Power
Plant aims to export the generated renewable power to the National
Grid, with connection facilitated through the Network of National
Transmission & Dispatch Company (NTDC). Power evacuation would
be facilitated through the existing 220kV Jhimpir-II Grid station
or any other grid interconnection scheme identified in
collaboration with NTDC, factoring in the latest load forecast and
NTDC's future transmission plans.
The Study is expected to culminate
in the finalisation of the grid interconnection scheme, determining
voltage levels, step-up transformer specifications, interconnecting
distribution lines, and necessary extensions or reinforcements to
the nearby system network. This comprehensive analysis reinforces
Oracle's commitment to ensuring reliable power dispersal and
maximizing the project's impact on the national energy
grid.
CEO of Oracle, Naheed Memon,
commented: "We are
delighted to announce the initiation of the Interconnection Study
for our renewable power plant in Jhimpir. This Study will complete
our feasibility study package for the Power Plant and will be
instrumental in propelling us into the FEED stage. Additionally, it
will help to lay the groundwork for future confirmation of
potential off-take and financing arrangements. Through strategic
partnerships and meticulous planning, we aim to optimize the
integration of renewable energy sources into the national grid,
contributing to the country's energy security and environmental
sustainability."
*ENDS*
For
further information on Oracle Power PLC, visit the Company's
website at http://www.oraclepower.co.uk or
contact:
Oracle Power PLC
Naheed Memon - CEO
+44 (0) 203 580
4314
Strand Hanson Limited (Nominated
Adviser & Joint Broker)
Rory Murphy, Matthew Chandler, Rob
Patrick
+44 (0) 20 7409
3494
Global Investment Strategy UK
Limited (Joint Broker)
Samantha
Esqulant
+44 (0) 20 7048 9432
St Brides Partners Limited
(Financial PR)
Susie Geliher, Isabel de
Salis
+44 (0) 20 7236 1177
About PPI
Power Planners International (Pvt.)
Ltd is a reputable entity, registered with the Pakistan Engineering
Council and accredited with registrations in England and Wales,
Saudi Electricity Company (SEC), and the Alternative Energy
Development Board. PPI is a group of professionals who possess
highly specialized skills, vast and profound experience, and
expertise of the advanced and latest state of the art software
prevailing in the contemporary power system industry. Having long
background of power system analysis and planning in WAPDA and other
electric utilities, they fully understand the scope of the required
study and are capable of delivering it efficiently and
promptly.