Khulna Power Company Limited (KPCL) is set to sell its 110 megawatt barge mounted power plant at a value of $15 million, according to a company statement posted on the Dhaka Stock Exchange (DSE) website yesterday.

An asset purchase agreement has been signed between KPCL and Excelerate Global Operations LLC of the US to this end, it said.

The company also informed that they have applied to the Bangladesh Power Development Board (BPDB) and other concerned authorities for approval to re-export the plant (power barges) outside Bangladesh.

Stocks of KPCL dropped 0.63 per cent to Tk 31.40 at the DSE yesterday.

A week ago, the company informed that the government allowed the extension of two contracts with KPCL to purchase power from the KPC Unit-II 115 megawatt plant in Khulna and KPC 40 megawatt Noapara plant in Jashore on the basis of no electricity, no payment.

KPCL's profits fell in the first half of the current fiscal year.

Its earnings per share dropped Tk 1.57 in the July-December period of 2021-22 while it was Tk 2.88 in the same period of the previous fiscal year.