HUBCO

The Hub Power Company Limited (Hubco) is the first and largest Independent Power Producer (IPP) in the country with a combined installed power generation capacity of 2920 MW. Our Hub Plant, situated at Mouza Kund, Hub in Balochistan, is one of the most efficient RFO fired thermal power plant in Pakistan, which supplies reliable and uninterrupted electricity to the national grid. Our Narowal Plant is also an RFO-fired, engine based, combined cycle power station, located at Mouza Poong, Narowal in Punjab. The Company also holds 75% controlling interest in Laraib Energy Limited, which is a run off the river hydel power plant near the New Bong Escape, 8 km downstream of Mangla Dam in Azad Jammu and Kashmir. Our joint-venture with China Power International Holdings (CPIH), a 1320MW imported coal-based power plant, China Power Hub Generation Company Limited (CPHGC) with its integrated coal jetty, has started its commercial operations providing affordable and uninterrupted energy to over 4 million households.

The Company issued Right Shares and raised an amount of PKR 7 billion from Pakistan Stock Exchange (PSX). The Right Share was priced at PKR 50 per share and the Company has issued 140 million shares. The purpose of Rights Issuance was to raise funds which were utilized to consolidate Hubco’s energy portfolio and increase its shareholding in CPHGC from 26% to 47.5%.

The Company has established wholly owned subsidiaries for its future growth initiatives. Hub Power Holdings Limited (HPHL) has been incorporated to invest in the future growth projects. The Hub Power Services Limited (HPSL), manages O&M of our existing power assets, preparing to undertake O&M of our imported and indigenous coal based growth projects, in addition to exploring other onshore and offshore business opportunities. HPSL is currently operating the Hub, Narowal & Laraib Plants. The Company’s wholly owned subsidiary, Narowal Energy Limited (NEL) owns the 225MW Narowal Power Plant.

The Company has established Thar Energy Limited (TEL), to set up a 330MW mine-mouth lignite-fired power Plant at Thar Coal Block II Sindh. The Company has signed a Shareholders’ agreement with Fauji Fertilizer Company Limited (FFCL) and CMEC TEL Power Investments Limited (CMEC Dubai) for equity investment of 30% and 10% respectively in the Project, while Hubco holds 60% shares of TEL. The Company has acquired majority shares in 330MW ThalNova Power Thar Pvt. Ltd (TNPTL) mine-mouth lignitefired power plant which is a similar project like TEL and provides huge opportunities for synergy.

The Company also holds 8% shareholding in Sindh Engro Coal Mining Company Limited (SECMC), a joint venture between the Company, Engro, Thal Limited, HBL, CMEC and Government of Sindh, which has developed a coal mine at Thar which has the seventh largest reserves of coal in the World. SECMC achieved Commercial Operations for Phase I on July 10, 2019 and will be embarking to double its coal mining capacity from current 3.8 MTPA to 7,6 MTPA for supplying fuel to Hubco’s Thar Energy Limited and ThalNova projects which are under construction.