List of CPEC Coal Power Plants in Pakistan, with Owners and Capacity
Every CPEC coal-fired power plant in Pakistan, what it produces, who owns it, and what it costs the Pakistani consumer
By Asad Baig · Lahore · April 2026 · Approx. 5-min read
What this article is
A reference list of the CPEC coal-fired power plants in Pakistan. Each entry includes the plant name, capacity, fuel source, sponsor (the entity that built and owns it), commercial operation date, and the contract structure under which it operates.
For the broader political-economy context of these plants, see The CPEC Power Contracts and my pillar on the electricity crisis.
CPEC imported coal plants
These plants burn imported coal, primarily from South Africa, Australia, and Indonesia. They are located near port facilities to minimise inland fuel transport costs.
| Plant | Capacity | Sponsor | COD |
|---|---|---|---|
| Sahiwal Coal Power | 1,320 MW | Huaneng Shandong Ruyi (China) | 2017 |
| Port Qasim Coal Power | 1,320 MW | Sinohydro / AMI (China-Qatar) | 2018 |
| China Hub Coal Power (CPHGC) | 1,320 MW | China Power International / Hubco | 2019 |
These three plants together represent approximately 3,960 MW of CPEC imported-coal capacity. Sahiwal and Port Qasim are the two plants specifically named in the 2020 Power Sector Inquiry Report's findings on excess capital costs (combined approximately $2.5-2.6 billion in excess payments documented over contract life). I have written about this at The 2020 Inquiry Report That Was Buried.
CPEC Thar coal plants
These plants use domestic coal from the Thar Block II reserves in Sindh. They were positioned as a strategic asset for Pakistani energy independence.
| Plant | Capacity | Sponsor | COD |
|---|---|---|---|
| Engro Thar Coal | 660 MW | Engro / China Machinery Engineering | 2019 |
| HUBCO Thar Coal | 330 MW | HUBCO | 2022 |
| ThalNova Thar Coal | 330 MW | ThalNova consortium | 2022 |
| Shanghai Electric Thar | 1,320 MW | Shanghai Electric (China) | 2023 |
Total CPEC Thar coal capacity: approximately 2,640 MW. These plants are in various stages of commercial operation. The Engro and HUBCO plants are owned in part by the Dawood-Engro complex, which I cover at The Dawood Story: HUBCO, Engro, and the Thar Coal Plants.
CPEC hydropower plants
Not coal, but worth listing for completeness within the broader CPEC energy portfolio.
| Plant | Capacity | Sponsor | COD |
|---|---|---|---|
| Karot Hydropower | 720 MW | China Three Gorges | 2022 |
| Suki Kinari Hydropower | 884 MW | China Gezhouba | 2025 (expected) |
| Kohala Hydropower | 1,124 MW | China Three Gorges | Under construction |
Other notable CPEC energy projects
| Plant | Capacity | Fuel | Sponsor |
|---|---|---|---|
| Quaid-e-Azam Solar | 1,000 MW | Solar | TBEA Xinjiang (China) |
| Three Gorges First Wind | 49.5 MW | Wind | China Three Gorges |
| Various smaller wind / solar | Various | Wind / Solar | Various |
Total CPEC IPP capacity
The full CPEC energy portfolio is approximately 6,000 MW across coal, hydro, wind, and solar. The combined contract value, including financing, is estimated at $35 billion.
The terms governing all CPEC IPPs are similar:
- 27-34% return on equity, in US dollars
- Take-or-pay structure
- 30-year contract duration
- Sovereign guarantee
- Capacity payments regardless of dispatch
By international comparison, these terms are extraordinary for sovereign-guaranteed thermal power projects. I have written about why Pakistan agreed to such terms, and why renegotiation has not been pursued, at The CPEC Power Contracts.
What the Pakistani consumer pays
The total annual capacity payments to CPEC IPPs are approximately Rs. 750 billion as of FY2025 estimates. This is roughly 36 percent of total Pakistani capacity payment obligations. The remaining 64 percent is split between government-owned plants (~28 percent) and roughly 40 Pakistani business families that own the private domestic IPPs (~36 percent).
The CPEC contracts run until approximately 2040 to 2045. Until then, Pakistani consumers will continue paying these amounts whether the plants run or not.
WHAT THIS LOOKS LIKE PER HOUSEHOLD
Of every Rs. 100 a Pakistani household pays in capacity charges, approximately Rs. 36 flows to CPEC plants (Chinese state-owned enterprises plus their Pakistani partners). The Pakistani government is currently approximately $2 billion in arrears on these payments, an amount that is growing.
Why this list matters
Most Pakistani writing about CPEC power plants treats them as a single block. "CPEC IPPs collect Rs. 750 billion." The aggregate figure is correct. The aggregate framing makes it harder to engage with the specific plants, the specific findings, and the specific reform options.
Specificity matters. The 2020 inquiry's findings on Sahiwal and Port Qasim were specific. The renegotiation cases that comparable countries have pursued have been plant-specific. The forensic recoveries that the 2020 report recommended would be calculated plant by plant.
Knowing the list of plants, with owners and capacity, allows you to read CPEC commentary more critically. When a politician promises CPEC reform, ask which specific plants are being addressed and on what terms. When a commentator claims CPEC contracts are "untouchable," ask why specifically, since some plants have weaker legal positions than others.
The list above is the starting point for that more specific engagement.
What you should take away
Three things.
The CPEC energy portfolio is approximately 6,000 MW across roughly 21 plants. Coal (imported and Thar), hydropower, wind, and solar.
Annual capacity payments to CPEC plants are approximately Rs. 750 billion. Approximately 36 percent of total Pakistani IPP capacity payment obligations.
Specific plants have specific findings against them. Sahiwal and Port Qasim were named in the 2020 Power Sector Inquiry Report for excess capital costs of $2.5-2.6 billion combined. Other plants may have similar issues that have not been publicly documented because the inquiry did not expand its specific findings beyond these two.
For the broader story of why CPEC IPPs are particularly difficult to reform, see The CPEC Power Contracts.
Now you have the list. Pass it on.
Thank you for reading.
, Asad Baig, Lahore, April 2026
Frequently asked questions
How many CPEC power plants are in Pakistan? Approximately 21 plants across coal (imported and Thar), hydropower, wind, and solar. Combined capacity approximately 6,000 MW. Combined contract value approximately $35 billion.
Which CPEC coal plants are largest? The three imported-coal plants (Sahiwal, Port Qasim, China Hub) are 1,320 MW each. The Shanghai Electric Thar plant is also 1,320 MW. The next tier is 660 MW (Engro Thar Coal) and 330 MW (HUBCO Thar, ThalNova).
What is the return on equity for CPEC IPPs? 27 to 34 percent, in US dollars, over 30-year contracts. Significantly higher than the 15-18 percent of the 1994 Power Policy or the 12-13 percent of the 2002 Power Policy.
Are CPEC IPPs included in the Shehbaz Sharif government's renegotiation efforts? No. The Shehbaz government has terminated five domestic IPPs and renegotiated fourteen others since October 2024. None have been Chinese.
Sources and notes
- CPEC.gov.pk, Energy Projects (Pakistani government CPEC authority)
- Power Sector Inquiry Report 2020 (ARY News mirror)
- NEPRA tariff filings for CPEC IPPs (nepra.org.pk)
- Private Power and Infrastructure Board (PPIB) project registers
- The Diplomat, China in Pakistan's Power Sector: The Hidden Costs (January 2025)
- IEEFA Reports on Pakistan Power Sector by Haneea Isaad (2024-2025)
Related reading from Asad Baig
The cluster post this answers under
The pillar
Sibling long-tail explainers
- What "Friendly Country" Buried the 2020 Power Sector Inquiry Report?
- The Dawood Story: HUBCO, Engro, and the Thar Coal Plants
Asad Baig