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Paramount Textile Limited (PTL) says its associate company lntraco Solar Power Limited (ISPL) begun its commercial operations on August 25.
“Intraco Solar Power Ltd has completed its commercial operations of 30 megawatts (AC) Grid-Tied Solar PV power plant,” said PTL in a filing with the Dhaka Stock Exchange (DSE) on Sunday.
In November 2020, PTL acquired an 80 percent stake in ISPL, a Bangladesh-based renewable energy firm owned by the Intraco Group of Industries.
Intraco Solar has been supplying 30 megawatts of electricity to the national grid since 2018 from its plant in Rangpur’s Gangachhara.
The company has paid-up capital of Tk 162 crore, according to DSE.
Earlier, PTL said it will invest Tk 1,300 crore in renewable energy to set up a solar power plant with a generation capacity of 100MW.
As part of the investment, it will acquire a 49 per cent stake in Dynamic Sun Energy Private, said the company, a subsidiary of Paramount Group.
On Sunday, PTL share fell 1.70 per cent to Tk 81 on the DSE.
It also invested in a 200MW heavy-speed diesel-based power plant at Baghabari in Sirajganj.
The company’s earnings per share (EPS) stood at Tk 0.95 in the third quarter (January-March) 2022, an increase of 3 per cent from Tk 0.92 in the same period a year ago.
