The 330 MW Mine-Mouth Coal-Fired Power Generation Complex at Thar Block II, District Tharparkar by ThalNova Power Thar (Private) Limited (TN) has reached its Commercial Operations Date (COD) on February 17, 2023.
In a stock filing, the Hub Power Company Limited (PSX: HUBC) said the project has successfully achieved commissioning in terms of the Power Purchase Agreement dated July 21, 2017 (the “PPA”) entered into between TN and the Central Power Purchasing Agency (Guarantee) Limited.
“With this achievement, the collective power generation capacity of HUBCO and its group companies has increased to 3581 MW through the plants spread over Balochistan, Punjab, Azad Jammu and Kashmir, and Sindh,” the filing stated.
According to the filing, the Project will be generating low-cost energy from indigenous Thar Coal thus reducing the burden on national foreign exchange resources.
The development is a significant step forward in the country’s efforts to improve energy security and reduce reliance on expensive imported fuel. This will allow the complex to begin producing low-cost energy from indigenous Thar coal, easing the strain on the country’s forex reserves.
Pertinently, TN is a joint venture between Hub Power Holdings Limited, a wholly-owned subsidiary of HUBCO, Thal Power (Private) Limited, Nova Powergen Limited, CMEC ThalNova Power Investments Limited, and Descon Engineering Limited, formed for the purposes of establishing a 330 MW Mine-Mouth Coal-Fired Power Generation Complex at Thar Block II, District Tharparkar, Sindh, Pakistan under the China Pakistan Economic Corridor (CPEC).
The project’s success emphasizes the importance of public-private collaboration in achieving sustainable development and a better energy-efficient future for the country.
At the time of filing, the company’s scrip at the bourse was Rs. 66.51, up 15 percent or Rs. 0.10 with a turnover of 180,294 shares on Friday.
