Baraka Patenga Power Limited (BPPL) was incorporated as Private Limited Company on June 07, 2011 and converted as Public Limited Company on April 28, 2014.
A group of resident and non-resident Bangladeshi (NRB) business owners created BPPL to implement a 50 MW HFO fired IPP power plant at Patenga, Chittagong, which was awarded by the Bangladesh Power Development Board (BPDB) through a tendering process. This follows the success story of Baraka Power Limited. To create and deliver 50 MW of power on a build, own, and operate (BOO) basis for a period of 15 years, BPPL signed a Power Purchase Agreement (PPA) with BPDB and an Implementation Agreement with the Ministry of Power, Energy, and Mineral Resources (MPEMR) on July 31, 2011. The Company's main operation is to construct power plants for the production and supply of electricity. On May 4, 2014 the 50 MW facility at Patenga, Chittagong, began operating for commercial purposes.
The plant has been running on 8 brand-new Rolls Royce engines, each with a capacity of 6.984 MW, for a total plant capacity of 55.872 MW. Additionally, a 3.20 MW cogeneration secondary power plant has been successfully running. The STG facility uses the heat recovered from eight Rolls Royce generator sets' exhaust gas to run without burning any fuel, which lowers the cost of fuel by 6.40% a year. To reduce sulfur emissions to an acceptable low level, a desulfurization plant has been added to the project for the first time in the power industry.
The Project was financed through Bangladesh Bank IPFF project cell funded by the World Bank and local source financed by United Commercial Bank Limited, Trust Bank Limited & BRAC Bank Limited.
Furthermore, two of the Company’s subsidiaries, namely Karnaphuli Power Limited (KPL) and Baraka Shikalbaha Power Limited (BSPL) has already started Commercial Operation after implementing two HFO based IPP power plants having production capacity of 110 MW and 105 MW respectively. Baraka Patenga Power Limited holds 51% shareholdings of these subsidiary companies.
In addition to the petroleum and power industries, BPPL established another subsidiary firm called Baraka Securities Limited to diversify its business into an ongoing, more dynamic endeavor. The subsidiary was established to operate as a stock broker and dealer on the stock exchanges. 51% of BSL is owned by BPPL. Baraka Securities Limited received a Trading Right Entitlement Certificate (TREC) from the Dhaka Stock Exchange Limited on September 1, 2021, and as a result, BSL plans to begin conducting business very soon.
After successful completion of Initial Public Offering (IPO) process under the Book-Building method, Baraka Patenga Power Limited got listed with both Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited on 12 July 2021. Trading of shares of BPPL started in DSE and CSE on 15 July 2021.
Nature of Business
The Principal activity of Baraka Patenga Power Limited is to set up power plants for the generation and supply of electricity. Apart from these, the Company also invested in two other power plants and one newly formed Stock Broker-Dealer company.
Principal Products and Service
Electricity is the principal product of the Company. Under private sector power generation policy of Bangladesh, Baraka Patenga Power Limited supplying electricity uninterruptedly to the Bangladesh Power Development Board (BPDB) through the national grid.