Karnaphuli Power Limited (KPL), with its registered office at 6/A/1 (1st and 2nd floor), Segunbagicha, Dhaka-1000, was established in Bangladesh on November 17, 2014. According to the Companies Act of 1994, on December 12, 2018, the Company became a public limited company.

Initially the Company was formed as a Private Limited Company and later on December 12, 2018 the Company was convicted to a Public Limited Company.

Karnaphuli 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. Karnaphuli Power Limited, acting on its own behalf, submitted a proposal to the Ministry of Power, Energy & Mineral Resources' (MPEMR) Power Division on August 8, 2017, requesting a Letter of Intent (LOI) to implement a 110MW IPP power plant. On February 4, 2018, the company signed a Power Purchase Agreement (PPA) with the Bangladesh Power Development Board (BPDB), and it has also signed an Implementation Agreement (IA) with the Government of Bangladesh (GOB). On the same day for implementing HFO fired IPP power plant having capacity of 110 MW on Build, Own, Operate (BOO) basis at Kolagaon, Patiya, Chattogram for a term of 15 years from the commercial operation date (COD).

On August 20, 2019, the 110 MW HFO-fired power station in Kolagaon, Patiya, Chattogram began commercial operation. It is currently providing uninterrupted electricity to the national grid in accordance with BPDB's needs. The plant has six brand-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. In addition, the plant uses six of Alfa Laval's Aalborg West heat recovery boilers, each of which can produce 6.6 MT of steam per hour. The cutting-edge plant generates 6.5 MW of electricity utilizing an NTC Steam Turbine using energy recovered by these boilers without using any extra fuel.