Baraka Shikalbaha Power Limited (BSPL), with its registered office at 6/A/1, Segunbagicha, Dhaka-1000, was incorporated in Bangladesh on December 13, 2017. In accordance with the Companies Act of 1994, on December 12, 2018, the Company became a public limited company.

Baraka Shikalbaha Power Limited is a 51% subsidiary of Baraka Patenga Power Limited (BPPL).

The Company's main operation is to construct power plants for the production and supply of electricity. In order to implement a 105 MW IPP power plant on a BOO basis, Baraka Patenga Power Limited, the sponsor of BSPL, submitted a proposal to the Power Division of the Ministry of Power, Energy & Mineral Resources (MPEMR). Subsequently, Bangladesh Power Development Board (BPDB) issued a Letter of Intent (LOI) to Baraka Patenga Power Limited and its consortium via their memo no. 27.11.0000.101.14.021.18-869 (COD). In this regard, Baraka Patenga Power Limited established Baraka Shikalbaha Power Limited as a subsidiary. On August 19, 2018, Baraka Shikalbaha Power Limited signed the Implementation Agreement (IA) with the Government of Bangladesh (GOB), represented by the Ministry of Power, Energy, and Mineral Resources, as well as the Power Purchase Agreement (PPA) with the Bangladesh Power Development Board (BPDB).

The 105 MW HFO-fired power station in Kolagaon, Patiya, Chattogram began operating commercially on May 24, 2019, and it has been continuously supplying electricity to the national grid since then. The plant has been running on six completely new Wartsila 4-Stroke Reciprocating Super Charged Engines, type W18V50, with a combined output of 110.49 MW and a capacity of 18.415 MW apiece.