Chandpur Power set to begin production

Doreen Power Generations and Systems Limited yesterday announced that its subsidiary, Chandpur Power Generation, has completed a 100-hour reliability run test as per the power purchase agreement signed with the Bangladesh Power Development Board.

Doreen Power, a listed power producer, submitted a letter to BPDB on February 12 for the issuance of a formal declaration certificate effective from February 11, 2022, as per the agreement.

The 115-megawatt heavy fuel oil-based power plant will produce and supply electricity for 15 years, generating around Tk 1,102 crore in revenue each year.

Doreen Power holds a 99.90 per cent stake in the Chandpur-based power producer.

Doreen Power's earnings per share rose to Tk 4.86 in the first half of the current financial year, against Tk 3.85 during the same period in 2020-21.

However, the company's share yesterday dropped 0.52 per cent to Tk 76.10 on the Dhaka Stock Exchange (DSE).

Doreen Power's paid-up capital is Tk 161 crore, according to DSE data.

Sponsors and directors hold 66.61 per cent of the company's shares while institutional investors hold 18.85 per cent and general shareholders control the rest.