Of the 18 power plants operated by Summit Group, 13 remain operational while five are currently shut down, the company revealed in a statement.
Summit Corporation Limited owns and operates a total of 18 power plants with a total capacity of 2,255 MW and also operates Bangladesh’s second Floating Storage and Regasification Unit (FSRU) with a capacity of 500 million standard cubic feet per day (mmcf/d).
Summit Power Limited (SPL), a publicly listed company, along with Summit Corporation Limited, owns 15 power plants with a total 976 MW installed capacity.
Presently, three Unit I Power Plants in Ashulia, Madhabdi and Chandina (a total of 33 MW) are in shutdown mode due to gas supply limitations, though these power plants have Power Purchase Agreement (PPA) till November 21, 2028 under “No Electricity, No Payment” basis without guaranteed off-take.
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Meanwhile, Madanganj Power Plant (102 MW, HFO fired) located in Narayanganj is in shutdown mode as BPDB has not placed any electricity demand since mid-August 2024.
The Jangalia Power Plant (33 MW gas-fired) is in shutdown mode since initial expiry on June 24, 2024 of the Power Purchase Agreement (PPA) with BPDB. Furthermore, BPDB has not informed any step for renewal of PPA or resumption of operation.
The remaining 10 power plants of SPL with installed capacity of 808 MW are in operation.
Separately, three turbine power plants, Summit Meghnaghat Power Company Limited, Summit Meghnaghat II Power Company Limited, and Summit Bibiyana Power Company Limited with a total installed capacity of 1,279 MW are operational as well as the Floating Storage and Regasification Unit (FSRU).
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Summit Power Limited (SPL) has requested a time extension till March 31, 2025 for providing year-end (on June 30, 2024) audited financial statements and declaring dividends.
SPL is expecting the Annual General Meeting (AGM) to be held between April and May 2025, said the Summit Group.