November 10, 2025
Two major Hubco-backed Thar coal power projects now online
The power plants will likely yield significant cash flows for the company, but may put additional pressure on the already oversupplied electricity grid
November 10, 2025
Hub Power Company (Hubco) has cleared a pivotal milestone in its long-running Thar strategy, with two mine-mouth coal plants – Thar Energy Limited (TEL) and ThalNova Power Thar (TNPTL) – reaching their Project Completion Date (PCD). The step, achieved on 31 October 2025, unlocks the ability for both projects to start distributing accumulated cash to shareholders and marks the latest wave of China–Pakistan Economic Corridor (CPEC) capacity additions feeding the national grid.
Hubco disclosed in a material notice that both TEL and TNPTL hit PCD “in accordance with the terms of their project financing documents,” a change in status that formally transitions the projects from construction risk into operations with distributable reserves. The two Thar Block-II units together contribute 660MW (two plants of 330MW each) to Pakistan’s installed base, reinforcing the coal-from-Thar pillar of the country’s energy mix.
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