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Wednesday, November 7, 2012

IPO APPLICATION OF SUMMIT PURBACHOL POWER CO. LTD.

Summit Purbanchol Power Company Limited (SPPCL), sponsored by Summit Group and a  subsidiary of Summit Power Limited (SPL), is one of the leading Bangladeshi Independent  Power Producer (IPP) in Bangladesh in private sector providing power to national grid. SPPCL was incorporated in Bangladesh on August 15, 2007 as a Private Limited Company.


 
Summit Purbanchol Power Company Limited in the year 2009 has successfully established two power plants of 33 MW capacity each, for sale of electricity to Rural Electrification Board (REB) and Bangladesh Power Development (BPDB) on Build, Own and Operate basis at Rupganj, Narayanganj and Jangalia, Comilla respectively.


 
The parent Company, Summit Power Limited in the year 2001, has successfully established three power plants of 11 MW capacity each, for sale of electricity to Rural Electrification Board (REB) on Build, Own and Operate basis at Savar, Narshingdi and Comilla. During 2006 and 2007 in each of the above three places, 2nd unit was commissioned enhancing the capacity of SPL to 105 MW. In 2009 SPL with its two subsidiaries has established 4 new power plants raising its capacity to 215 MW.


 
In 2011 SPL has commissioned another power plant of 102 MW capacity at Narayanganj under Summit Narayanganj Power Limited. Considering the immense opportunities, the company is striving to establish more power plants around the country. The fast-growing company has set a mission to expand the company with a power generation capacity to the tune of 1000 MW, which is a modest 20% of the electricity requirement in Bangladesh.

Rupganj Power Plant

This project was set up to provide electricity for Narayanganj Palli Bidyut Samity under 15-years Power Purchase Agreement (PPA) with Rural Electrification Board (REB). An implementation agreement has also been signed with the Government of Bangladesh (GoB). The plant is established on the area of 3.618 acre with a good aesthetic value and environment friendly Industrial Area. The area can accommodate any further expansion as well. The plant is accompanied by an office with all facilities needed to support the plant management. A high speed internet connection is also maintained for communicating with head office and consulting with foreign experts. The total capacity of the plant is 33 MW. During the year 2011 it generated 219,786 MWH of electricity with average plant load factor of 76.03%.

 Jangalia Power Plant

This project was set up to provide electricity for Comilla Grid Substation under 15-years Power Purchase Agreement (PPA) with Bangladesh Power Development Board (BPDB). An implementation agreement has also been signed with the Government of Bangladesh (GoB). The plant is established on the area of 3.1148 acre with a good aesthetic value and environment friendly Industrial area. The area can accommodate any further expansion as well. The plant is accompanied by an office with all facilities needed to support the plant management. A high speed internet connection is also maintained for communicating with head office and consulting with foreign experts. The total capacity of the plant is 33 MW. During the year 2011 it generated 218,281 MWH of electricity with average plant load factor of 75.51%.

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