Hub Power Company

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Hub Power Company Limited
Company typePublic
PSXHUBC
IndustryElectricity Generation, Energy & Oil & Gas
Founded1994; 30 years ago (1994)
Headquarters,
Area served
Pakistan
Key people
  • M. Habibullah Khan (Chairman)
  • Muhammad Kamran Kamal (CEO)
RevenueIncrease Rs. 114.26 billion (US$400 million)[1] (2023)
Increase Rs. 70.41 billion (US$240 million)[1] (2023)
Increase Rs. 62.00 billion (US$210 million)[1] (2023)
Total assetsIncrease Rs. 405.56 billion (US$1.4 billion)[1] (2023)
Total equityIncrease Rs. 158.03 billion (US$550 million)[1] (2023)
Number of employees
809[1] (2023)
Websitewww.hubpower.com

Hub Power Company Limited, (حب پاور کمپنی لمٹیڈ) colloquially known as HUBCO, is the first and largest Pakistani Independent Power Producer (IPP) with a combined installed power generation capacity of 3250 MW.[2][3]

HUBCO is the only power producer in Pakistan with four projects listed in the China-Pakistan Economic Corridor (CPEC), Thar Energy Limited, ThalNova, Sindh Engro Coal Mining Company and China power Hub generation Company. Out of these four projects only one is under construction — Thalnova Power Thar (Pvt) Ltd whereas China Power Hub Generation Company (CPHGC) and Thar Energy Limited is already contributing electricity to the national grid. Hub Power Company stock is traded on the Pakistan Stock Exchange.[4][5]


Group Structure[edit]

Hubco Group Structure
Hubco Group Structure


Subsidiaries

  • Narowal Energy Limited (NEL): Wholly owned by HUBCO. It manages and operates the Narowal Power Plant[6][4]
  • Hub Power Services Limited (HPSL): Wholly owned subsidiary of HUBCO
  • Hub Power Holdings (HPHL): Incorporated to invest in future growth projects
  • Thar Energy Limited (TEL): HUBCO has 60% shareholding in TEL which is setting up a 330-megawatt (MW) Thar Lignite Coal-based mine mouth Power Plant and is a part of the China-Pakistan Economic Corridor (CPEC)
  • Laraib Energy Limited (LEL): HUBCO owns 74.95% of LEL which is the owner and developer of the New Bong Escape Power Project[4]

Associates

  • China Power Hub Generation Company (CPHGC) is the project company for the development, construction and operation of 2×660 MW Coal-fired Power Plant in Hub, Balochistan near the Hub plant. HUBCO has 46% stake in CPHGC[4]
  • Sindh Engro Company Limited (SECMC) is an open-pit mining company in which HUBCO has 8% stake[4]
  • ThalNova Power Thar (Pvt.) Ltd. is a 330 MW mine-mouth lignite fired power plant in which HUBCO has acquired majority shares [7]

Plants currently providing electricity to Pakistan[edit]

  • Hub Plant (1,292 MW) is located 60 km from Karachi in Hub. The electricity at Hub is generated by four 323 megawatt oil-fired units that are supplied by a 78 km long pipeline from Pakistan State Oil. It consists of four generating units, each unit has capacity of 323 MW gross output, with an oil-fired single re-heat boiler and tandem compound and two cylinder condensing steam turbines directly coupled to a hydrogen cooled generator.[8]
  • Narowal Power Plant (225 MW) located in Narowal, Punjab consists of 11 generating sets, 11 Alborg Heat Recovery Steam Generators and one air cooled condensing Steam Turbine from Dresser Rand.[6]
  • ThalNova Power Plant 330MW mine-mouth lignite-fired power plant at Thar Coal Block II Sindh is also a part of the China Pakistan Economic Corridor (CPEC).
  • New Bong Escape Power Project (84 MW), located in Mirpur, Azad Jammu& Kashmir, commenced commercial operations on 23 March 2013 and has the distinction of being Pakistan and AJ&K's first hydropower IPP. The Project uses the water discharged from an upstream already existing hydropower plant located at Mangla Dam.[9]
  • China Power Hub Generation Company (CPHGC) Power Plant (1320 MW) is an imported coal-based plant supplying energy to the national grid and located at Hub. The CPHGC plant consists of two generating units each rated at 660 MW Gross, with each unit having GE supercritical boilers, steam turbine and generator sets.[4][10]
  • Thar Energy Limited (TEL) Project is a lignite-based 330 MW project. The project achieved commercial operations on 10th October, 2022.
  • ThalNova Power Thar Pvt. Ltd (TNPTL) is also a 330 MW mine-mouth lignite-fired power plant similar to TEL. The commencement of the commercials operations of this project is expected around the start of January 2023.

Other projects[edit]

  • Sindh Engro Company Limited (SECMC) has developed a coal mine at Thar which has the seventh largest reserves of coal in the World. SECMC achieved Commercial Operations for Phase I in July, 2019 and will be embarking to double its coal mining capacity to supply fuel to HUBCO's Thar Energy Limited and ThalNova projects which are under construction.[11]
  • Prime International Oil & Gas Company a newly established joint venture (JV) between Eni Pakistan local employees and Hub Power Company acquired Eni’s assets in Pakistan. These assets include interests in eight development and production leases and four exploration licences.

Corporate social responsibility[edit]

Since inception of the company, its Corporate social responsibility (CSR) program has been heavily investing in uplifting local communities. In 2022 alone, the group invested PKR 202 Million on initiatives under the following major categories:

  • Education
  • Healthcare
  • Infrastructure Development
  • Livelihood

The company has set up initiatives to develop communities around its plants. It provides education and healthcare by setting up schools and medical facilities. The Company improves the physical infrastructure of the local communities by providing clean water and installing solar systems. It helps improve the livelihood of the local populace through projects such as the HUBCO Rahnuma Program where employees volunteer their time, skills, and efforts to develop communities near plants.[10] HUBCO aims to hire local workers and in line with this provides vocational training programs.[12]

Awards and accolades[edit]

HUBCO Ocean Tower Office

Hub Power Company has achieved the following:

  • Top 7th position in the “Billion Dollar” Club since 2009.[2]
  • First Independent Power Producer in the world.
  • Won the PSX Top 25 Companies Award in 2002, 2003, 2010, 2017, 2018 and 2022.[7]
  • Digital Innovator of the Year in Optimizing Operations Category awarded by General Electrics (GE) in 2017.
  • Winner of Best Place to Work in 2019 conferred by Engage Consulting & Pakistan Society of Human Resource Management (PSHRM).
  • Received the Corporate Excellence Award conferred by Management Association of Pakistan (MAP) in 2019, 2020, 2021 and 2022.[10]
  • Winner of Gender Diversity at Workplace Award conferred by the CFA Society at the 17th Corporate Excellence Award in 2020.[13]
  • Awarded Notable Growth in Women Empowerment at OICCI's (Overseas Investors Chamber of Commerce & Industry) Women Empowerment Awards 2020.[14]

See also[edit]

References[edit]

  1. ^ a b c d e f "Hub Power Annual Report 2023" (PDF). hubpower.com. Retrieved 8 December 2023.
  2. ^ a b Farooq Tirmizi (23 December 2012). "The growth of the "billion dollar club" in Pakistan". The Express Tribune (newspaper). Retrieved 20 June 2021.
  3. ^ "HUBCO company profile".
  4. ^ a b c d e f Hussain, Dilawar (24 September 2018). "Further growth for Hub Power Company". Dawn (newspaper). Retrieved 20 June 2021.
  5. ^ Hussain, Dilawar (6 November 2001). "Hub Power Company: CORPORATE PROFILE". Dawn (newspaper). Retrieved 20 June 2021.
  6. ^ a b "Hubco to set up 225 MW plant at Narowal". The Nation (newspaper). 24 June 2008. Retrieved 20 June 2021.
  7. ^ a b "Hubco Analyst Briefing Feb, 2020" (PDF).
  8. ^ "Power Generation & Distribution: THE HUB POWER COMPANY LIMITED – Year Ended June 30, 2005 (Audited)". Business Recorder (newspaper). 8 December 2005. Retrieved 20 June 2021.
  9. ^ "Laraib Energy".
  10. ^ a b c "HUBCO Annual Report 2019" (PDF).
  11. ^ "Hubco generation capacity doubles in six years: Chairman". Business Recorder (newspaper). 17 March 2018. Retrieved 20 June 2021.
  12. ^ "Hubco CSR program".
  13. ^ "CFA Society Annual Excellence Awards Winner List-2020" (PDF).
  14. ^ "OICCI organizes Women Empowerment Awards 2020". 20 January 2021. Retrieved 20 June 2021.

External links[edit]