The Hub Power Company Limited (HUBCO), Pakistan’s largest Independent Power Producer, has announced the official Project Completion Date (PCD) for its Thar-based power ventures, Thar Energy Limited (TEL) and ThalNova Power Thar (Private) Limited (TN). The PCD was formally declared by project lenders on October 31, 2025, marking a major milestone for both 330MW coal-fired power plants operating in Thar Block II.
According to a notice submitted to the Pakistan Stock Exchange (PSX), both projects are recognised as priority initiatives under the China-Pakistan Economic Corridor (CPEC). TEL achieved commercial operations on October 1, 2022, while ThalNova began operations on February 17, 2023.
HUBCO directly owns a 60% stake in TEL and holds an indirect 38.3% share in ThalNova through its wholly owned subsidiary, Hub Power Holdings Limited. In addition, Fauji Fertiliser Company Limited (FFC) holds 30% of TEL, while Thal Limited, through Thal Power (Private) Limited, owns 26% of TN.
The declaration of the PCD will now allow both TEL and TN to begin dividend distributions to shareholders, subject to the availability of distributable profits and regulatory approvals. HUBCO stated that this development reflects its ongoing commitment to maximising shareholder value and strengthening Pakistan’s energy security.
The company emphasised that the achievement underscores the success of collaborative energy development under CPEC, helping advance local coal utilisation and power generation capacity in the Thar region. HUBCO, FFC, and Thal jointly termed this milestone a key step toward sustainable value creation and long-term energy independence for Pakistan.
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