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Business & Finance HUBC (The Hub Power Company Limited) 65.40 Decreased By ▼ -0.76%

Hubco's TNPTL to commence commercial operations in 2022

  • HUBCO is the only power producer in Pakistan with four projects listed in the CPEC, namely imported coal-based China Power Hub Generation Company (Private) Limited (CPHGC) at Hub, Thar Energy Limited (TEL) and ThalNova Power Thar (Pvt.) Ltd. and Sindh Engro Coal Mining Company (SECMC) at Thar Coal Block II.
Updated 01 Oct, 2020

Pakistan’s largest Independent Power Producer (IPP), Hub Power Company Limited (Hubco) has announced that the ThalNova Power Thar (Private) Limited (TNPTL) will commence commercial operations in 2022.

“The Government of Pakistan has notified the achievement of Financial Closing by ThalNova Power Thar (Private) Limited (“TNPTL”) on 30th September, 2020, an associated company of Pakistan’s largest Independent Power Producer, Hub Power Company Limited (Hubco),” said the company.

TNPTL is currently under construction at Thar Coal Block II and is scheduled to achieve commercial operations in 2022, Hubco added.

TNPTL was incorporated in April 2016 in a joint venture between Thal Limited, Novatex Limited, Descon Engineering Limited and China Machinery Engineering Corporation. Hub Power Holdings Limited joined the consortium in 2018 and undertook management control of TNPTL whereby construction works was commenced at site from Sponsor equity.

TNPTL is engaged in setting up 330MW mine-mouth lignite-fired power Plant at Thar Block II and is one of the first power projects to utilize the local lignite at Thar Coal Block II for power generation The Project is being financed through consortium of Chinese and Pakistani banks which are led by China Development Bank and Habib Bank Limited respectively.

The Project is being financed through consortium of Chinese and Pakistani banks which are led by China Development Bank and Habib Bank Limited respectively.

Meanwhile, HUBCO is the only power producer in Pakistan with four projects listed in the CPEC, namely imported coal-based China Power Hub Generation Company (Private) Limited (CPHGC) at Hub, Thar Energy Limited (TEL) and ThalNova Power Thar (Pvt.) Ltd. and Sindh Engro Coal Mining Company (SECMC) at Thar Coal Block II.

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Zameer Ahmed Oct 01, 2020 07:10pm
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