The Hub Power Company Limited (HUBCO), Pakistan’s largest Independent Power Producer (IPP), has announced the completion of its Thar-based coal power projects. The company said lenders of Thar Energy Limited (TEL) and ThalNova Power Thar (Private) Limited (TN) have officially declared the Project Completion Date (PCD) for both 330-megawatt plants on October 31, 2025.
The announcement was made in a notice submitted to the Pakistan Stock Exchange (PSX) on Monday. HUBCO stated that both Thar Energy Limited and ThalNova Power Thar achieved their Commercial Operations Dates earlier; TEL on October 1, 2022, and TN on February 17, 2023.
Thar Energy Limited runs a 330MW mine-mouth coal-fired power plant at Thar Block II, with HUBCO holding a 60 percent ownership. ThalNova Power Thar, also located at Thar Block II in Sindh, has the same capacity, and HUBCO’s subsidiary, Hub Power Holdings Limited (HPHL), owns 38.3 percent shares in it.
The company highlighted that both projects are part of the China-Pakistan Economic Corridor (CPEC) and play a crucial role in supporting Pakistan’s growing energy demand. HUBCO termed the declaration of PCD a “major milestone” as it now allows TEL and TN to distribute dividends to shareholders, depending on profit availability and regulatory approvals.
READ MORE: Punjab 39 Districts to Get Major Beautification Uplift
Earlier in August, HUBCO had approved financial guarantees worth up to $51 million to assist TEL and TN in meeting funding gaps. The shareholders had passed resolutions allowing standby letters of credit of $31 million for TEL and $20 million for TN.
The completion of these Thar projects marks another major success for HUBCO in strengthening Pakistan’s power generation capacity through local coal resources.
