HUBCO, KE join hands for Hub Power Plant's transition to Thar Coal

January 23, 2023 (MLN): The Hub Power Company Limited (PSX: HUBC) and K-Electric (PSX: KE) on Wednesday signed a Memorandum of Understanding (MOU) to explore the opportunity for potential conversion of HUBCO’s RFO-based Hub Power Plant to Thar coal, HUBC informed through its official X account. 

In line with our commitment to securing indigenous, reliable and affordable energy supply, HUBCO signs MoU with KE to explore the opportunity for potential conversion of HUBCO’s RFO-based Hub Power Plant to Thar coal.#HUBCO #FuelingLivesThroughEnergy #KE #TharCoal pic.twitter.com/PwstFmtvRR

— Hubco (@TheHubPowerCo) January 23, 2024

Earlier this month, the Board of Directors of HUBC authorized the company to enter into negotiations and execute definitive agreements for the proposed acquisition of shares of Sindh Engro Coal Mining Company Limited held by a potential seller.

HUBC is the first Independent Power Producer (IPP) in the Country and now directly and indirectly operates and/or owns various power plants with a combined installed power generation capacity of 3,581MW. Hub Plant, situated at Mouza Kund, Hub in Balochistan, is a 1292MW RFOfired thermal power plant.

Narowal Energy Limited, a 100% owned subsidiary, is a 225MW RFO-fired, engine-based, combined cycle power station, located at Mouza Poong, Narowal in Punjab.

The company also holds 75% controlling interest in Pakistan’s first hydel IPP, Laraib Energy Limited, which is a run-of-the-river 84MW hydel power plant near the New Bong Escape, 8 km downstream of Mangla Dam in Azad Jammu and Kashmir.

During FY23, LEL contributed 345 GWh of clean energy into the national grid with no fuel cost, thereby saving around $29 million for the country.

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