Thar Energy Limited is ready to generate 330 Mega Watt electricity from the next month as the power project has achieved its commissioning phase.
According to stock filing, Thar Energy Limited, an associated company of Fauji Fertilizer Limited, has achieved commissioning, with the commercial operations date to take effect from October 1, 2022.
TEC is a CPEC project in which Fauji Fertilizer company limited owns a 30% equity stake along with The Hub Power Company Limited and China Machinery Engineering Corporation holding, with 60% and 10% shareholding, respectively.
The coal-fired power plant will be using indigenous Thar coal to generate low-cost energy, which will not only result in bridging the energy demand and supply gap but also preserve precious foreign exchange reserves of the country.
In October 2016, the National Electric Power Regulatory Authority (Nepra) accepted a generation license application from Thar Energy Limited (TEL) for a 330 MW mine-mount plant in Thar Block II. The estimated cost of investment in the project is nearly $500 million.