Oracle Power PLC - Development Funding Update
("Oracle", the "Company" or the "Group")
Development Funding Update &
· Funding Provided by Oracle and its
These funds have been spent under the pre-development funding agreement reached with its consortium partners Beijing Jingneng Power Company Limited ("BJPC") and
The LOI, when approved, is issued along with a Notice to Proceed so that the applications for a Generation Licence and Upfront Tariff can be made to the
"This is the first time that our Chinese partners have injected capital towards project development on the ground. This payment to the Pakistani regulators reaffirms their interest and the consortium's eagerness to progress the project.
"We will keep shareholders informed as further milestones are achieved."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information:
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+44 (0) 203 580 4314
+44 (0) 20 7409 3494
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+44 (0) 203 463 5000
Peterhouse Corporate Finance
+44 (0) 207 220 9791
Tim Blythe, Camilla Horsfall, Megan Ray
+44 (0) 207 138 3204
This information is provided by RNS, the news service of the
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