Thar Energy Limited
The Thar Energy Limited Power Plant (TEL) is a 330 MW mine-mouth lignite-fired power plant at Thar Coal Block II Sindh and is a part of the China Pakistan Economic Corridor (CPEC). The Project is a joint venture among Hub Power Company Limited (HUBCO), Fauji Fertilizer Company Limited (FFC), and China Machinery Engineering Corporation (CMEC), which is also the EPC contractor. 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 May 2018 from sponsor’s equity to ensure timely Commercial Operation Date (COD) and begin utilizing the local resource of Thar coal as soon as possible. The Financial close of the Project was achieved in January 2020. The Project has successfully achieved its commercial operations date on 1st of October 2022.
Vision
Fueling lives through energy.
Vision and Mission
To be a growth-oriented company recognized for international standards in safety and environment in providing reliable and affordable energy; serving the country, its stakeholders and local community as a responsible corporate citizen.
Company Registration Number
0099674
Date of registration
May 17, 2016
National Tax Number
7247408-5
Registered office address
9th Floor, Ocean Tower, G-3, Block 9, Main Clifton Road, Karachi
Head office address
9th Floor, Ocean Tower, G-3, Block 9, Main Clifton Road, Karachi
Branch office addresses
9th Floor, Ocean Tower, G-3, Block 9, Main Clifton Road, Karachi
Valid email address
secretarial@hubpower.com
Board of Directors
Chairman
Mr. Kamran Kamal is the Chief Executive Officer of The Hub Power Company Limited (HUBCO), Pakistan’s largest listed energy platform. Since assuming the role in 2021, he has led HUBCO’s transition from the country’s largest Independent Power Producer into a diversified energy and infrastructure group with interests spanning power generation, oil and gas, mining, electric mobility and green infrastructure.
Under his leadership, HUBCO has pursued growth across adjacent sectors while advancing initiatives that support Pakistan’s evolving energy and mobility landscape, including new energy vehicles (NEV), green mobility infrastructure, a BYD automotive plant and a nationwide NEV charging network. His leadership reflects a focus on strategic diversification, long-term value creation and sustainable solutions for Pakistan’s energy future.
Mr. Kamal has extensive experience in energy technology, policy, market reform, large-scale infrastructure development and business strategy. Before becoming CEO of HUBCO, he led Laraib Energy Limited, Pakistan’s first hydel Independent Power Producer, and held senior leadership roles at China Power Hub Generation Company and Engro. His career includes work on major projects across coal mining, power generation, LNG infrastructure, agricultural & energy commodity trading and fuel supply chains.
Mr. Kamal holds a Master’s in Public Policy from Harvard University and a Bachelor’s degree in Electrical and Computer Engineering from the Georgia Institute of Technology. Mr. Kamal also serves on the Boards of K-Electric Limited, Sindh Engro Coal Mining Company Limited, China Power Hub Generation Company (Private) Limited and Prime Global Energies Limited.
Chief Executive Officer
Mr. Amjad Ali Raja is a Chartered Engineer and a seasoned power sector executive with over 21 years of leadership experience across the marine and power generation industries. He holds a B.Sc. in Maritime Studies from the Pakistan Marine Academy, a Marine Chief Engineer Certificate of Competency from England, and an MBA in Banking & Finance. He is a registered Chartered Engineer with the UK Engineering Council and a member of the Institute of Marine Engineering, Science & Technology (IMarEST).
Mr. Amjad joined The Hub Power Company Limited (HUBCO) in 2013 and has held several senior leadership positions, including Plant Manager and Vice President – Operations, before being appointed Chief Executive Officer of Thar Energy Limited (TEL) and ThalNova Power Thar (Private) Limited in July 2024. Throughout his career, he has successfully led the development, commissioning, operations, and maintenance of thermal, combined cycle, hydro, and coal-fired power generation facilities, delivering operational excellence, enhanced reliability, and sustainable business performance.
In addition to his executive responsibilities, Mr. Raja serves as a Director of Thar Energy Limited, Narowal Energy Limited, China Power Hub Operating Company Limited, Thar Foundation, and Hub Power Services Limited. Through these governance roles, he contributes to strategic oversight, sound corporate governance, and the long-term growth and sustainability of the organizations.
As Chief Executive Officer, Mr. Raja is committed to fostering a high-performance culture built on operational excellence, innovation, integrity, and the highest standards of health, safety, and environmental (HSE) stewardship. Under his leadership, Thar Energy Limited continues to strengthen its position as a reliable and responsible power producer, supporting Pakistan's long-term energy security through efficient, sustainable, and dependable power generation.
Director
Mr. Aly Khan holds a Master of Sciences from Boston College and a Bachelor of Sciences from Northeastern University.
Over the course of the last decade, he has cultivated his professional career working in London, Singapore and New York for various global institutions including Citi Group and Yang Ming Marine Transport Corporation in several management and training capacities.
In Pakistan, Mr. Khan has extended valuable contributions to multiple ventures through key management roles including spearheading the construction and operation of Pakistan’s first commercial L.E.E.D. Certified Building, setting up a state-of-the-art 10,000 ton per day cement plant, and growing one of the country’s largest dairy businesses’ sales to 600,000 liters per day.
He is the Chairman of Haleeb Foods Limited, CEO of Mega Motor Company and a Director of Qasim International Container Terminal. He is also an SECP certified director in corporate governance.
Director
Muhammad Saqib is the Chief Financial Officer (CFO) of The Hub Power Company Limited. Mr. Saqib has over 25 years of experience, where he has performed in many key leadership roles in Finance and Strategy. Prior to HUBCO, he was CFO for Engro Vopak Terminal Limited and Engro Elengy Terminal Limited. In one of his previous roles, as CFO for Engro Energy Limited and Sindh Engro Coal Mining Company, he developed various energy projects overseeing feasibility studies and worked closely with diverse stakeholders for finalization of complex Joint venture and shareholding agreements with Chinese investors, Government of Sindh, large local groups related to Thar coal mining and power projects. He headed finance function for Thar coal mining and power project and arranged USD 1.5 bn foreign and local currency under CPEC umbrella.
Mr. Saqib is a Chartered Financial Analyst and holds an Master’s degree in Business Administration from Institute of Business Administration (IBA).
Director
Syed Atif Ali joined Thar Energy Limited in 2022 as Director. He is the Chief Financial Officer of Fauji Fertilizer Company Limited (FFC), bringing over two decades of leadership experience in finance, corporate strategy, mergers & acquisitions, and large-scale transformation across multinational and complex group environments.
A Chartered Accountant and Fellow Member of ICAP and ACCA (UK), he began his career with KPMG and later held senior leadership roles in leading multinational organizations like Tetra Pak and ICI Pakistan Limited. He also serves on the Boards of following:
- Foundation Wind Energy - I & II Limited
- Food Security and Agricultural Center of Excellence
- Sona Welfare Foundation – Trustee
Director
Mr. Jahangir Piracha was appointed as a director of Thar Energy Limited. He is currently also the Managing Director and Chief Executive Officer of FFC, in which role he is focused on driving growth and innovation while supporting Pakistan’s agricultural development and food security. Beyond his executive roles, Mr Piracha is serving on multiple boards, where he has played a key role in decisions impacting the future of energy, infrastructure, and community support across Pakistan.
With over three decades of experience, Jahangir Piracha has built a career dedicated to leading and transforming some of Pakistan’s most influential companies in chemicals, energy, and agri business.
His commitment to sustainability, inclusion, and adaptive growth is evident in the initiatives he supports and the teams he builds.
- FFC Energy Limited
- Foundation Wind Energy - I & II Limited
- Fauji Foods Limited
- FFBL Power Company Limited
- Fauji Fresh n Freeze Limited
- International Fertilizer Association - Board / Executive Committee
- Fauji Meat Limited
- Pakistan Maroc Phosphore SA
- Agritech Limited
- OLIVE Technical Services (Private) Limited
- Foundation University Islamabad
- Sona Welfare Foundation - Chairman
- Food Security & Agriculture Centre of Excellence - Chairman
- Askari Bank Limited
Director
Mr. Zhao Wenke is a seasoned engineering and project management professional with over 20 years of experience in international engineering, infrastructure, and energy projects. He currently serves as the General Manager of the 5th Complete Plants Division of China Machinery Engineering Corporation (CMEC), where he leads the execution and management of large-scale overseas engineering projects.
Mr. Zhao holds a Bachelor's degree in Energy and Environment from Beijing University of Chemical Technology and a Master's degree in Marketing from the University of Adelaide, Australia. He is also a qualified Senior Engineer.
Throughout his career with CMEC, Mr. Zhao has held several leadership positions of increasing responsibility, including Commercial Manager, Deputy General Manager, Assistant General Manager, and General Manager across the company's Complete Plants Divisions. His expertise spans international business development, commercial management, project execution, and strategic leadership of complex engineering projects.
In addition to his executive responsibilities, Mr. Zhao serves on the boards of several companies in the energy and power sector. He has been Chairman of CMEC Pakistan Engineering (Private) Limited since 2023 and serves as Director on the boards of CMEC Thar Power Investments Limited, CMEC Thar Mining Investments Limited, Engro Powegen Thar (Private) Limited, CMEC TEL Power Investments Limited, CMEC ThalNova Power Investments Limited and ThalNova Power Thar (Private) Limited. He also served as Director of Harbin Power System Engineering & Research Institute Co. Ltd from 2021 to 2024.
Drawing on his strong academic background and extensive international experience, Mr. Zhao brings valuable expertise in project management, corporate governance, strategic planning, and energy sector investments to the Board.
Shareholding Pattern
