Oracle Power, in collaboration with its joint venture entity Oracle Energy, has initiated the commencement of an Environmental and Social Impact Assessment (ESIA) for their renewable power plant project in Jhimpir, Sindh Province, Pakistan, as of Monday.
The company, listed on AIM, revealed that the project, aimed at fostering sustainable energy solutions, has enlisted the services of the inspection and certification firm SGS Pakistan to oversee the ESIA Study.
This assessment will scrutinize the environmental and social ramifications of a robust 1.3-gigawatt renewable power initiative. The comprehensive project encompasses an 800-megawatt solar installation, a 500-megawatt wind project, and a substantial 450-megawatt-hour battery energy storage system.
The ESIA will be conducted in compliance with the environmental regulations outlined by the Sindh Environmental Protection Agency. Moreover, it will align with international guidelines provided by esteemed entities such as the International Finance Corporation and the Asian Development Bank.
Oracle Power specified that the methodology of the ESIA will involve the meticulous collection of primary and secondary environmental data to anticipate and evaluate impacts. The initial focus will be on the renewable power aspects, followed by an examination of chemical and transmission components.
To assess environmental sensitivities, SGS will undertake a thorough wildlife survey at the project site. The ESIA report will encompass a comprehensive review of both national environmental legislations and international guidelines.
The assessment process will also include public consultation and engagement with stakeholders, evaluating impacts on land, infrastructure, settlements, and wildlife. Additionally, an environmental management plan and a performance monitoring plan for both construction and operational phases will be developed.
Upon completion, the final ESIA report will be submitted to the Sindh Environmental Protection Agency. Subsequently, Oracle Power will seek a non-objection certificate from the Pakistan Environmental Protection Agency (EPA) in due course.
Naheed Memon, the Chief Executive Officer, remarked, “The commencement of the ESIA study, in order to obtain clearance from the national environmental agency and endorsement from international stakeholders, marks a very important milestone in the development pathway of our green energy project. It also demonstrates our commitment to swift project development as we continue to align and engage with prospective lenders and investors. As a company, we are committed to adhering to the highest environmental and social standards as we advance the development of our green energy project.”
As of 1456 GMT, Oracle Power’s shares remained steady at 0.03p.