Khulna Power Company Ltd. (KPCL) is the first Independent Power Producer (IPP) of the country established in 1997 under the Private Sector Power Generation Policy. It owns and operates a 110 MW barge mounted power plant that commenced its operation in October 1998. Its paid up capital is BDT 2085.93 million (US$ 44.10 million). When established, KPCL shareholders were Coastal Power Company (later Coastal was merged with El Paso Corporation, USA) through its direct wholly-owned subsidiary El Paso Khulna Power ApS, Summit Industrial & Mercantile Corporation (Pvt.) Ltd. (Bangladesh), United Enterprises & Co Ltd. (Bangladesh) and Wartsila Development and Financial Services (Asia) Ltd.
Now only local shareholders hold 100% ownership of the company. Khulna Power Company Ltd. (KPCL) project was initially financed by the IFC and the sponsors equity with a debt-to-equity ratio of 54:46. The total initial project cost was USD 96.07 million. KPCL owns and operates a barge mounted power plants in Khulna and supply electricity to the national grid of Bangladesh. The plant came into operation in October 1998. Nine generator sets are mounted on one barge and ten on the other. Each barge is approximately 91 meters long and 24 meters wide.
|Adress||Barge Mounted Power Plant, Goalpara, Khalishpur, Khulna.|
|Category||Business & Finance >> Energy|