Oracle Power Regulatory News (ORCP)

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.