Pakgen Power
Pakgen Power Limited operates a 365 MW oil-fired thermal power station in Muzaffargarh, Punjab, selling all electricity exclusively to WAPDA under a 30-year Power Purchase Agreement. The PSX-listed company (ticker PKGP) is part of the Nishat Group conglomerate.
- Company typePublic
- Founded1995
- HeadquartersLahore, Pakistan
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Pakgen Power does
Pakgen Power Limited is a Pakistani Independent Power Producer (IPP) that owns and operates the Pakgen Thermal Power Station, a 365 MW oil-fired generating facility in Mehmood Kot, Muzaffargarh, Punjab. The plant commenced commercial operations on February 1, 1998 and is rated by the company as the most efficient power plant in Pakistan. Underlying technology comprises steam-turbine generation supported by a Continuous Emission Monitoring System (CEMS) at the stack measuring CO, NOx, SO2, O2, and opacity, integrated with an Environmental Management System compliant with World Bank standards and certified to ISO 14001:2004 and OHSAS 18001:2007 by SGS.
The company's revenue model is a single-stream, contract-based B2G offtake: all electricity generated is sold exclusively to WAPDA (Pakistan Water and Power Development Authority) under a 30-year Power Purchase Agreement executed on September 5, 1995, with operating authority granted by NEPRA Generation Licence IPGL/07/2003. Tariff terms and pricing are governed privately by the PPA rather than competitive markets. Originally incorporated in 1995 as AES Pak Gen, a subsidiary of AES Corporation (USA), the company was acquired in June 2010 by a consortium led by Nishat Mills Limited, converted to a public limited company in July 2010, listed on the Pakistan Stock Exchange (ticker PKGP), and rebranded as Pakgen Power Limited in November 2010.
The customer base is concentrated to a single government buyer, which provides revenue predictability for the contract term but creates binary exposure to that counterparty. Ancillary activities are limited to a community welfare program (school and healthcare partnerships with CARE Foundation, TCF, and LRBT) and ESG reporting rather than product diversification. The company is part of the diversified Nishat Group, whose CEO Mian Hassan Mansha serves as Pakgen's CEO.
Pakgen Power firmographics
Firmographics- Name
- Pakgen Power
- Legal name
- Pakgen Power Limited
- Website
- https://pakgenpower.com
- Company type
- Public
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Pakgen Power Limited operates a 365 MW oil-fired thermal power station in Muzaffargarh, Punjab, selling all electricity exclusively to WAPDA under a 30-year Power Purchase Agreement. The PSX-listed company (ticker PKGP) is part of the Nishat Group conglomerate.
- Ownership category
- akta.pro rank
Pakgen Power industry classification
Industry- Product category
- Oil-Fired Power Generation (Independent Power Producer)
- NAICS
- Electric Power Generation (22111), Fossil Fuel Electric Power Generation (221112), Electric Power Generation, Transmission and Distribution (2211)
- SIC
- Cogeneration Services & Small Power Producers (4991), Electric Services (4911), Engines & Turbines (3510)
- akta.pro primary industry
- Utility-Scale Oil-Fired Steam Power Plants (Residual/Fuel Oil) (EUACACAA)
- akta.pro secondary industries
- Thermal Power Plant EPC (Gas/Coal/Oil) (EUAEAAAA), Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)
Keywords
Where Pakgen Power is headquartered
LocationHeadquarters
- HQ city
- Lahore
- HQ country
- Pakistan
- HQ region
- Asia
Offices3 records
Markets served
Pakgen Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D
Revenue model
- Electricity Generation and Sale: Pakgen Power generates electricity from its 365 MW oil-fired power station and sells it to WAPDA under a 30-year Power Purchase Agreement (PPA) valid from September 05, 1995. This is a long-term contracted revenue stream with a single government offtaker.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Contract-based electricity supply to WAPDA |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Pakgen Power product offering
Product offeringCore offering
Pakgen Power Limited owns and operates an oil-fired thermal power station at Mehmood Kot, Muzaffargarh, Punjab, with an installed capacity of 365 MW. The company generates and supplies electricity exclusively to WAPDA (Pakistan Water and Power Development Authority) under a 30-year Power Purchase Agreement executed on 05 September 1995. Operations are governed by ISO 14001 and OHSAS 18001 certified environmental and safety management systems.
Product overview
Pakgen Power Limited operates as a power generation company with a single core asset: the Pakgen Thermal Power Station, an oil-fired power plant with 365 MW capacity in Muzaffargarh, Pakistan. The company generates electricity for sale to WAPDA under a long-term Power Purchase Agreement. Supporting operations include community welfare programs and an Environmental Management System.
Differentiator
Problem solved
Functional benefit
Products and services
- Pakgen Power Station (365 MW Oil-Fired Thermal Power Generation) Independent power production of up to 365 MW via an oil-fired thermal power station at Mehmood Kot, Muzaffargarh, Punjab, supplying electricity exclusively to WAPDA under a 30-year Power Purchase Agreement. The plant operates under ISO 14001 and OHSAS 18001 certified environmental and safety management systems with a Continuous Emission Monitoring System.
Quantifiable outcome
- 30-year contracted revenue stream from PPA with WAPDA
- +1 more outcomes
Companies that use Pakgen Power
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Pakgen Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Pakgen Power partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- WAPDA (Pakistan Water and Power Development Authority)corePakgen Power sells electricity to WAPDA under a 30-year Power Purchase Agreement (PPA) executed on September 05, 1995. WAPDA is the sole off-taker and the primary customer of Pakgen Power's electricity generation.
- CARE FoundationminorPakgen Power supports operational expenses for five adopted government schools of the local community in collaboration with CARE Foundation.
- The Citizens Foundation (TCF)minorThe Company donated a primary school building to The Citizens Foundation (TCF) and continued its support to upgrade it to metric level.
- LRBT (Layton Rahmatulla Benevolent Trust)minorThe company arranges special eye camps for the local community on annual basis in collaboration with LRBT.
Scale indicators2 records
Recent moves9 records
Expansion highlights2 records
Pakgen Power competitors and assessment
Company assessmentOthers
- GE Vernova: Global power-generation OEM (steam turbines, generators) with installed base in Pakistan's thermal IPP fleet; relevant as an enabling technology supplier to the segment.
- Siemens Energy: OEM of large steam turbines and grid-scale thermal generation equipment supplied to many Pakistani IPPs; relevant as an enabling technology and O&M partner for the asset class.
- Wärtsilä: Global technology provider and operator of thermal and engine-based power plants, with significant presence in Pakistan's IPP sector; comparable as adjacent infrastructure/OEM partner in the Pakistani thermal generation value chain.
Direct peers
- The Hub Power Company (HUBCO): Pakistan's largest IPP, operating multiple thermal (oil, coal, gas) generation assets under PPAs with the government. Directly comparable business model of contracted thermal generation with WAPDA/CPPA.
- Engro Powergen Qadirpur Limited: Pakistani gas-fired IPP under a long-term PPA with the government; comparable IPP structure and contracted revenue model, differing on fuel source.
- Atlas Power Limited: Pakistani thermal IPP with oil-fired generation capacity selling to WAPDA under a long-term PPA. Closely comparable fuel mix, contract structure, and offtake.
- Kot Addu Power Company (KAPCO): Pakistani listed IPP operating a multi-fuel thermal power plant under a long-term PPA. Directly comparable as a public thermal IPP serving the national grid.
- Nishat Power Limited: Another Nishat Group IPP operating a coal-fired power plant selling electricity to the national grid under a long-term PPA. Same ownership, governance, and offtake model as Pakgen.
- Lalpir Power Limited: Sister company under Nishat Group with a similar oil-fired IPP structure supplying WAPDA under a long-term PPA. Operates a comparable thermal generation asset in Pakistan.
Broad incumbents
- AES Corporation: Former parent of Pakgen (when it was AES Pak Gen); a major global IPP with portfolio operations across multiple fuel types and geographies. Strategic and operational lineage to Pakgen.
Market position
Weaknesses5 records
Competitive moat4 records
Key highlights7 records
Customer concentration
Pakgen Power social profiles
Digital presencePakgen Power compliance and trust
Trust signalCompliance14 records
Pakgen Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pakgen Power leadership team
Management profileNumber of profiles
Profiles2 records
Pakgen Power funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pakgen Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pakgen Power
What does Pakgen Power do?
Pakgen Power Limited owns and operates an oil-fired thermal power station at Mehmood Kot, Muzaffargarh, Punjab, with an installed capacity of 365 MW. The company generates and supplies electricity exclusively to WAPDA (Pakistan Water and Power Development Authority) under a 30-year Power Purchase Agreement executed on 05 September 1995. Operations are governed by ISO 14001 and OHSAS 18001 certified environmental and safety management systems.
Is Pakgen Power a public or private company?
Pakgen Power is a public company. It is classified as public and is currently operating.
When was Pakgen Power founded?
Pakgen Power was founded in 1995. It employs 101 to 250 people.
Where is Pakgen Power based?
Pakgen Power is headquartered in Lahore, Pakistan, in the Asia region.
How does Pakgen Power make money?
One revenue line is on record: electricity Generation and Sale.
Who are Pakgen Power's main competitors?
Others on record are GE Vernova, Siemens Energy and Wärtsilä. Direct peers are The Hub Power Company (HUBCO), Engro Powergen Qadirpur Limited, Atlas Power Limited, Kot Addu Power Company (KAPCO), Nishat Power Limited and Lalpir Power Limited. AES Corporation is listed as a broad incumbent.
Does Pakgen Power have an API?
No public API is recorded for Pakgen Power.
What industry is Pakgen Power in?
Pakgen Power's product category is Oil-Fired Power Generation (Independent Power Producer). Its primary akta.pro industry code is EUACACAA, Utility-Scale Oil-Fired Steam Power Plants (Residual/Fuel Oil), with a secondary code of EUAEAAAA, Thermal Power Plant EPC (Gas/Coal/Oil). Its NAICS code is 22111 and its SIC code is 4991.