The Hub Power Company Limited (Hubco), Fauji Fertilizer Company Limited (FFC), and Thal Limited have announced that lenders of Thar Energy Limited (TEL) and ThalNova Power Thar (Private) Limited (TN) have declared the Project Completion Date (PCD) of their 330MW coal-based power plants on October 31, 2025.
According to separate notices submitted to the Pakistan Stock Exchange (PSX) on Monday, both Thar Energy Limited and ThalNova Power Thar operate mine-mouth coal-fired independent power projects (IPPs) in Thar, recognized as priority projects under the China-Pakistan Economic Corridor (CPEC). Thar Energy Limited achieved its commercial operations on October 1, 2022, while ThalNova began operations on February 17, 2023.
Hubco stated that it directly holds 60% of TEL and indirectly owns 38.3% of TN through its subsidiary, Hub Power Holdings Limited.
FFC holds a 30% shareholding in TEL, while Thal Limited, through Thal Power (Private) Limited, owns 26% of TN.
The companies said the declaration of the Project Completion Date marks a major milestone, enabling the two power plants to begin paying dividends to shareholders once distributable profits and procedural approvals are finalised.
Hubco, FFC, and Thal termed the achievement a significant step forward in value creation for shareholders and reaffirmed their commitment to strengthening Pakistan’s energy infrastructure under CPEC.
