21st February 2024
EP Report

Khulna Power Company Ltd (KPCL) has notified the closure of its plant as the electricity sales agreement with the Bangladesh Power Development Board (BPDB) is set to expire on February 9.


KPCL, owned jointly by Summit Group and United Group, has a 15-year rental agreement regarding power sales with BPDB, a state-run agency.


The plant will cease operation at midnight of February 9, discontinuing electricity supply to the national grid too, KPCL said in a filing on the Dhaka Stock Exchange (DSE).


The KPCL, one of the oldest private sector power producers, said it requested the renewal of the power purchase agreement for five years under a no-electricity no-payment basis.

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