ISLAMABAD  -  K-Electric and Hub Power Com­pany Limited (HUBCO) Tues­day signed a memorandum of understanding (MoU) for sup­ply of affordable electricity to Karachi from Thar coal based Hub power plant. In this regard, CEO K-Electric Moonis Alvi and CEO The Hub Power Company Limited (HUBCO) Kamran Ka­mal signed a memorandum of understanding (MoU) to explore the opportunity for off-take of electricity follow­ing the conversion of HUBCO’s Hub Plant to local Thar coal. This is in line with KE’s long-term strategy to induct power generation from indigenous sources into its energy mix. In this regard, the company is exploring the viability of Thar coal-based power generation projects. HUBCO’s Hub Power-station is a 1292 MW (4 X 323 MW), residual fuel oil-based plant, which has maintained high standards of operations since 1997. Both companies have shown their commitment to work collaboratively to­wards conducting the requisite efforts needed for the timely conversion and integration of the project with KE’s network.

Sharing his thoughts on the occasion, CEO KE stated, “To­day’s signing is another reflec­tion of our intent to tackle the energy trilemma head-on, en­abling access to affordable and reliable power to our grow­ing customer base. I feel great honor to mention that KE has proven itself to be a preferred off-taker for the independent power producers in Pakistan. This is only due to our superior creditworthiness and our histo­ry of fulfilling the commitments made with our stakeholders. We are looking at a future where we substitute our reliance on imported fossil fuels with indig­enous sources, creating a more resilient power value chain. This is also the driving force behind the Power Acquisition Program that we have submit­ted with our Regulator, which is balancing baseload require­ments with renewable energy.” 

CEO of HUBCO Kamran Ka­mal stated that “The proposed conversion of Hub power plant to Thar coal will play a crucial role in decreasing reliance on imported fuels. While offer­ing a sustainable energy solu­tion for the people of Karachi, this project will also serve the continued use of the country’s legacy power generation as­sets. This initiative is in line with our commitment to secur­ing indigenous, reliable, and affordable energy supply and contributing towards achieving energy security for the country. The envisaged project will be executed after conducting re­quired feasibility studies and obtaining all necessary corpo­rate and regulatory approvals.”