The government has renewed power purchase agreement with three power plants of Summit Power Limited for another 5-year term.
The power purchase agreement with Summit’s Ashulia, Chandina and Madhobdi power plants will be effective on a ‘no electricity no pay’ basis, as per a Dhaka Stock Exchange (DSE) filing.
The power plants have an average power generation capacity of 10 MW.
Summit Power is now in the process of negotiating tariff and other terms and conditions for the renewal of PPA with the BREB.
Summit Power Limited (SPL) owns and operates 15 power plants with a combined capacity of 976 megawatts.
Summit Power, the country's largest private sector power producer, reported a 28 per cent fall year-on-year in earnings per share in the nine months of the current fiscal year.
Its consolidated EPS was down to Tk 2.05 for the July–March FY23 from Tk 2.85 for the same period one year ago.
Its net profit declined to Tk 219 crore in July–March period of FY23 from Tk 304.34 crore for the corresponding period of the previous fiscal, according to it san un-audited financial statement.
The company’s consolidated net asset value per share was Tk 37.68 as on March, 2023 compared to Tk 35.72 as on June 30 last year.
Its consolidated net operating cash flow per share stood at Tk 4.82 for July 2022-March 2023 against Tk 4.03 for July 2021-March 2022.
Summit shares closed at Tk 34 each on the DSE on Sunday.
