ThalNova, which is a 330MW mine-mouth lignite-fired power plant at Thar Coal Block II Sindh is also a part of the China Pakistan Economic Corridor (CPEC). The Project is a joint venture among Hub Power Company Limited (HUBCO), Thal Limited, Novatex Limited, China Machinery Engineering Corporation (CMEC), andDescon Engineering Limited. HUBCO holds 38.3% shares and has management control in ThalNova.

ThalNova is a European technology-based power plant with the Boiler, Turbine and Generator designed and manufactured by world renowned company General Electric. This leads to higher reliability standards and controls emissions to even lower than that allowed limits by SEPA. The plant would generate electricity at extremely affordable rates.

The foreign financing for the Project was arranged from a Chinese syndicate, led by China Development Bank whereas the local financing has been arranged via a syndicate led by Habib Bank Limited. The project started construction in March 2019 to ensure timely completion and begin utilizing the local resource of Thar coal as soon as possible. On 17th February 2023, the project successfully achieved its Commercial Operations Date (COD) and has been providing affordable and indigenous power to the National Grid.

ThalNova has also created numerous direct employment opportunities for the locals of Thar and adjoining communities.