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Oracle Power and partners redraw development plan for Thar power station

The development will now be an 8mln tonnes of coal per year operation feeding a single 2x660 MW unit.

Thar will now be built in one phase instead of two

Oracle Power Plc (LON:ORCP) and its Chinese partners have revised their plans for the Thar thermal power station in Pakistan.

Rather than ramp-up in two stages, the development will now be an 8mln tonnes of coal per year operation feeding a single 2x660 MW unit.

An application has been submitted to the Private Power Infrastructure Board on this basis, said Oracle.

The company added the consortium is working on the optimal way to progress, which will include an update to the requisite Environmental and Social Impact Assessments.

Oracle added it has also received £50,000 from Brandon Hill as the initial drawdown on the loan agreement agreed in May. 

Naheed Memon, Oracle’s chief executive,  said: "Progress is being made with our partners as we look to optimise the project economics and minimise the ultimate capital required for the full development.”

Oracle (12%) is developing Thar in partnership with Beijing Jingneng (73%) and PowerChina (15%).

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