KARACHI: Committed to enabling access to affordable power and bolstering the energy security for its customers, CEO K-Electric (KE) Moonis Abdullah Alvi and CEO The Hub Power Company Limited (HUBCO) Kamran Kamal, inked a Memorandum of Understanding to explore the opportunity for off-take of electricity following the conversion of HUBCO’s Hub Plant to local Thar coal.
The development 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 busy in exploring the viability of Thar coal-based power generation projects.
HUBCO’s Hub Power-station is a 1292 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 efforts needed for the timely conversion and integration of the project with KE’s network.
Sharing his thoughts on the occasion, CEO KE said that today’s MoU 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 proud to mention that KE has proven itself to be a preferred off-taker for the independent power producers in the country.
He said that this is only due to our superior creditworthiness and our record 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.
Sustainable electricity source
CEO of HUBCO Kamran Kamal said that the proposed conversion of Hub power plant to Thar coal will play an important role in decreasing reliance on imported fuels. While offering a sustainable energy solution for the citizens of Karachi, this project will also serve the continued use of Pakistan’s legacy power generation assets.
He said that the envisaged project would be executed after conducting required feasibility studies and obtaining all necessary corporate and regulatory approvals.
