The board of directors of Khulna Power Company Ltd, a listed company, has decided to acquire 35 per cent ordinary shares in United Payra Power Plant Ltd.
Acquisition of shares of United Payra Power is subject to obtaining regulatory approvals of relevant authorities, said an official disclosure recently.
United Payra Power Plant executed a power purchase agreement with Bangladesh Power Development Board on August 21 this year.
As per the agreement with the government, United Payra Power will develop a 150 MW HFO (heavy-fuel-oil) power plant at Patuakhali on Build-Own-Operate (BOO) basis for 15 years from the date of commercial operation, said the disclosure.
The required commercial operation date (RCOD) of the power plant is November 21, 2020 in accordance with the terms of the project agreements, it added.
