Oracle Power PLC - London-based, Pakistan-focused energy projects developer - Enters memorandum of understanding with Seoul-headquartered Global Green Growth Institute, valid for next five years. GGGI will provide Oracle with opportunities to engage with industry stakeholders, to facilitate development and finance green energy projects. Both parties will share knowledge and best practices to promote renewable energy sources in GGGI member and partner countries. GGGI, led by former United Nations Secretary General Ban Ki-moon, aims to promote sustainable development in developing and emerging Asian countries and help them achieve Net Zero goals by 2050.

Oracle Chief Executive Officer Naheed Memon says the MoU ‘places us in a far stronger position and is another step forward, as we prepare to engage with potential financiers and investors. We also stand to benefit greatly from the exposure to industry knowledge and connectivity by engaging with industry stakeholders via GGGI’s various collaboration platforms.’

Current stock price: 0.10 pence, down 4.2% in London on Monday

12-month change: down 60%

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