RE: Will we ever get our money back27 Sep 2023 11:25
a lot of people myself including first invested here on the back of a potential block 6 thar coal mine , this has been kicked down the road for a variety of reasons none more so than government bureaucracy.
however since then the company has done extremely well with its limited funding to progress this green hydrogen project to where it now is, people must be reminded that oracle energy is 70% owned by sheikh ahmed dalmook al makhtoom--- he has invested in the land acquisition an is connected enough to help finance this project alongside the state grid corporation of china.
if we re- read some of the previous info we will not be as defeatist as some are
his highness sheikh ahmed dalmook al maktoum, who owns 70% of oracle energy, and is an active investor and developer of a number of power generation projects across the middle east, asia and africa, stated:
"oracle energy's vision of developing one of the largest green hydrogen production facilities globally has taken significant strides towards being realised through partnering with state grid of china, the largest power utility in the world. having acquired the required land to build the project late in 2022, and having made significant progress in planning the construction of the green hydrogen production facility with thyssenkrupp, oracle energy is looking to fast-track the development of the project by partnering with one of the world's leading companies, which has both financing capability, as well as significant experience of constructing large power projects globally. we look forward to working closely with cet and our other world class partners in maintaining this extraordinary momentum as we fulfil our stated strategy of being primarily focused on green energy development."
, mr wang bo, vice general manager of cet, said:
"we are very excited about the prospect of potentially financing, constructing and operating what will be ****stan's largest renewable power facility, a crucial process to bringing the green hydrogen project to the international markets for this crucial source of energy. the value of oracle energy's expertise and knowledge of the ****stani energy market, combined with the highly respected partners they already have, will be crucial in making this project not only a reality, but also one of significance from a global perspective."
this was only 6 months ago , a project the scale of this cannot come to fruition overnight so understandably private investors will be frustrated and whilst the reduction in share value is tough to take this most definitely is not a lifestyle company like so many .
we are at a point now where financing needs to be arranged externally , naheed has alluded to many a time that oracle is there as a project developer not to finance the project.
so the land has been acquired, the loi to build from the local govt is there, the feasibility study is complete , and we have uae royalty and the state grid of china on board so n