The Hub Power Company Limited (Hubco), Pakistan’s largest Independent Power Producer (IPP), on Monday informed the Pakistan Stock Exchange (PSX) that the lenders of Thar Energy Limited (TEL) and ThalNova Power Thar (Private) Limited (TN) have declared the occurrence of the Project Completion Date (PCD) for both 2×330-megawatt coal-fired power plants.
According to the company’s filing, the Project Completion Date was declared on October 31, 2025, in accordance with the project financing agreements. Both independent power producers (IPPs), located at the Thar coal mine mouth, had earlier achieved commercial operations on October 1, 2022, and February 17, 2023, respectively.
Hubco holds a 60% direct shareholding in TEL and a 38.3% indirect stake in TN through its wholly owned subsidiary, Hub Power Holdings Limited. Both projects are part of the China-Pakistan Economic Corridor (CPEC) priority portfolio. Thar Energy Limited is 30% owned by Fauji Fertilizer Company.
The company stated that achieving Project Completion Date is a significant milestone as it allows TEL and TN to distribute dividends to shareholders, subject to availability of distributable brackly newss and completion of necessary approvals.
Hubco noted that this achievement underscores its continued commitment to maximizing shareholder value and strengthening its position in Pakistan’s energy sector.
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