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n January 2015, Hub Power Company Limited (Hubco) announced that it planned to build a 1,320 MW (2 x 660 MW) coal plant next to its current 1,208 MW (4 x 302 MW) oil-fired power station, about 25 km southwest of the town of Hub in Balochistan. The plant would gradually be expanded to 3,960 MW (6 x 660 MW). The project would run on imported coal, for which a coal jetty would be developed. According to CEO Khalid Mansoor, Hubco had enough land near its existing power plant to house six coal plants of 660 MW each.[1]
Later that year, Hubco signed a joint venture agreement with China Power International Holding, a wholly-owned core enterprise of the China Power Investment Corporation, to set up the plant as China Power Hub Generation Company (CPHGC).[2]
In June 2015, the Private Power and Infrastructure Board (PPIB) approved the 1,320 MW power station.[3]
In February 2016, the National Electric Power Regulatory Authority (Nepra) granted the upfront tariff of Rs4.7153/kilowatt hour to China Power Hub Generation Company for the proposed 1320 MW plant. The Nepra estimated the project cost for 660 MW at US$956.1 million. Hubco was targeting financial close of the new CPHGC plant before June 2016, with the project likely to come online by 2020.[2] Hubco officials visited Ministry of Water & Power officials in Islamabad for a cheerleading session for the project in March 2016.[4] In April 2016, the PPIB issued a letter of support to China Power Hub Generation Company for construction of the station (it was unclear how this differed from the June 2015 approval). The statement issued along with the letter of support stated that the project was now scheduled to come online by 2019.[5]
In October 2016, Hub Power Company said it may reduce the plant to 1 x 660 MW to expedite construction.[6] According to Dawn, the reduction was actually because the PPIB — a one-window arrangement for private investments in the power sector — decided in June 2016 "to stop processing of power generation based on imported fuels because of substantial capacity already contracted that was enough to meet power demand until 2022 and to remain watchful of considerable foreign exchange erosion."[7] However, companies that had met financial close before that date and/or were part of the China-Pakistan Economic Corridor (CPEC) projects were exempted from the restriction, allowing Hubco to build both 660 MW units. Hubco expected to arrange financing for the US$1.8 billion power project by June 2017. The two units were planned for operation in 2018-2019.[8][9]
Ground was broken on both 660-MW units in March 2017. The plant was slated to cost US$2 billion.[10][11]
The Integrated Coal Jetty became operational in December 2018 with arrival of the first shipment of coal.[12]
Unit 1 was synchronized on January 1, 2019 and went into service in March 2019.[13][14]
Unit 2 was connected to the grid on May 28, 2019,[15] and synchronized in June 2019.[16] Commercial operation was reported on August 17, 2019.[12]
In 2019, Hubco increased their share in the venture from 26% to 46%.[17]
In April 2020, it was reported that Hubco was debating converting two of the four oil units at the neighboring Hub plant to coal. The electricity would be sold to K-Electric.[18]
In June 2021, it was reported the new plant was high on the merit list and was dispatched at the load factor of 65% in the latest quarter. However, its ability to pay dividends to sponsors was limited because of growing overdues so it was facing liquidity constraints.[19]
Unit 1 of the plant experienced a transformer failure in July 2021. The unit returned to service in January 2022.[20]
A December 2021 Hubco Analysts Briefing stated: "Effective Feb 1, 2022, HUBCO’s joint venture has been appointed as the O&M Contractor for CPHGC’s 1,320 MW power station, making HUBCO the largest O&M Contractor in Pakistan. This will pave way for localization of coal plants O&M, previously dominated by foreign operators."[20]
The plant operated with a load factor of 62% in FY21/22 (ending June 2022) and 72% in FY20/21 (ending June 2021). Lower load factor in 21/22 was due to transformer of Unit 1 being out of action from July 2021 and January 2022.[21]
In December 2022, electricity production at Pakistan's three power stations operating on imported coal (Sahiwal power station, Port Qasim EPC power station and Hubco power station) fell to a five-year low. The slump was due to high prices; quality coal was averaging $253.83 per ton in 2022, compared to $114.24 per ton in 2021 and $59.91 per ton in 2020.[22]
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