JV formed for 330MW coal-fired power generation under CPEC
A joint venture (JV) has been formed for establishing a 330MW power generation from Thar Coal under China Pakistan Economic Corridor (CPEC).
Hub Power Company Limited (HUBCO) on Friday issued a disclosure in respect of its associated company ThalNova Power Thar (Private) Limited (TN).
TN is a joint venture between (i) Hub Power Holdings Limited, a wholly owned subsidiary of the HUBCO; (ii) Thal Power (Private) Limited; (iii) Nova Powergen Limited; (iv) CMEC ThalNova Power Investment Limited; and (v) Descon Engineering Limited, formed for the purpose of establishing a 330 MW mine-mouth coal-fired power generation complex at Thar Block II, District Tharparkar, Sindh, Pakistan under the CPEC.
The project has successfully achieved commissioning, with the commercial operation date (COD) to take effect from February 17, 2023, 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.
The company said that with this achievement, the collective power generation of HUBCO and its group companies has increased to 3581 MW through the plants spread over Balochistan, Punjab, Azad Kashmir and Sindh.
“The project will be generating low cost energy from indigenous Thar Coal thus reducing burden on national foreign exchange resources,” the company added.
Completion of the project would have not been possible without the support extended by the government of Pakistan, Sindh provincial government, the government of China and all other private stakeholders, the company said.