Hub Power Company Limited (HUBCO) is located at Hub, Lasbela district, Balochistan, Pakistan. The Hub Power Company Limited is the first and the largest Independent Power Producer (IPP) in Pakistan. The company generates approximately 10 per cent of the country’s total electricity and is playing an important role in addressing the energy crisis in Pakistan.
- First private sector infrastructure project in Pakistan
- First stock market floatation of a single power station under construction ($380 m)
- First multi co-finance private sector infrastructure project with 9 co-financiers
BLAZE TO BRILLIANCE
In 1985, the Government of Pakistan, with the help of the World Bank, developed a long-term energy strategy which envisaged the involvement of private investors in power generation. A year later, the Hub Power Project began.
The plant was designed to meet the World Bank’s environmental requirements. In 1991, Hubco was incorporated in Pakistan as a limited liability company for the purpose of implementing the project.
ENGAGEMENT THAT ENTHRALS
Traditionally Hubco’s CSR programme has focussed on education, healthcare, environment and the welfare of the less privileged in society. The initiatives undertaken seek to ensure that there is clear value addition and that the real impact is made at the grassroots level.
The Hub power station was the first project to be successfully co-financed by several governments, the World Bank as well as international private sector lenders and investors. It set the standard for the formulation of a private power framework in Pakistan.
The company continues to provide support in terms of a fully-funded TCF school in Hub, in addition to giving the students free school bags and uniforms.