HUBCO’s Thar Coal Plants Reach Project Completion Under CPEC, Set to Reward Shareholders

The Hub Power Company Ltd (HUBCO) has announced the official completion of two major coal-fired power projects in Thar, a milestone that will allow its subsidiaries to begin paying dividends to shareholders, subject to regulatory approvals and available profits. In a notice to the Pakistan Stock Exchange, HUBCO said lenders for Thar Energy Limited (TEL) and ThalNova Power Thar (Private) Limited (TN) have declared the “Project Completion Date” (PCD) for their respective 2x330MW mine-mouth coal power plants as of October 31, 2025. TEL and TN, both priority projects under the China Pakistan Economic Corridor (CPEC), achieved commercial operations in October 2022 and February 2023, respectively. HUBCO holds a 60% direct stake in TEL and a 38.3% indirect stake in TN through its subsidiary, Hub Power Holdings Limited. The company said the PCD declaration is a “monumental occasion” that will enable both TEL and TN to distribute dividends, pending the availability of distributable profits and completion of procedural approvals. HUBCO emphasized that this achievement underscores its commitment to delivering value to shareholders.