KARACHI: Hub Power Holdings Limited (HPHL), a wholly owned subsidiary of The Hub Power Company Limited (Hubco), together with ENI’s local employees (in a 50:50 joint venture), has executed definitive agreements to acquire all the upstream operations in Pakistan of ENI and renewable energy assets owned by ENI in Pakistan.
ENI is a global energy company, which has been operating in Pakistan since the year 2000 in the Exploration & Production.
Through this transaction, Hubco, which is the first and largest IPP in Pakistan, will diversify its portfolio by entering the Exploration & Petroleum Sector.
At the moment, Hubco has a combined installed power generation capacity of nearly 3,000 MW, through its existing power plants and its holdings in Joint Ventures.
Additionally, Hubco has a majority stake in 2 more under construction power plants in Thar, with a power generation capacity of 330MW each. Hubco is the only power producer in Pakistan with investments in 4 projects listed under CPEC, valued at approximately $4billion.
Moving forward, Hubco is looking to explore opportunities in diversified areas including water, renewable energy, upstream oil & gas, mining and infrastructure. http://www.hubpower.com