92% of Summit Group's power capacity operational
Out of its 18 power plants, which have a total capacity of 2,225 MW, only five plants with a combined capacity of 168 MW are currently in shutdown mode due to a gas shortage, lack of demand from the government, or contract expirations, the group says
Summit Group has reported that 92% of its power production capacity is currently active.
In a press statement today (19 December), the group stated that out of its 18 power plants, which have a total capacity of 2,225 MW, only five plants with a combined capacity of 168 MW are currently in shutdown mode due to a gas shortage, lack of demand from the government, or contract expirations.
Summit Power Limited, a publicly listed company, owns 15 power plants with a total capacity of 976 MW. Currently, 10 of these plants are operational, contributing a combined capacity of 808 MW.
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The five plants in shutdown mode include the plants in Ashulia, Madhabdi and Chandina due to gas supply limitations, though these plants have a power purchase agreement (PPA) till 21 November 2028 under "no electricity, no payment" basis.
A 102 MW HFO-based plant in Madanganj, Narayanganj is in shutdown mode as the government has not placed any electricity demand since mid-August this year.
On the other hand, the 33 MW Jangalia Power Plant has been in shutdown mode since its Power Purchase Agreement (PPA) with the government expired on June 24 of this year, and it has yet to see any renewal of the PPA.
Not owned by the listed company, the three turbine power plants — Summit Meghnaghat Power Company, Summit Meghnaghat II Power Company and Summit Bibiyana Power Company with a total installed capacity of 1,279 MW are operational.
Summit Group's all 18 power plants are under the umbrella of Summit Corporation Limited that also operates Bangladesh's second floating storage and regasification unit (FSRU) with a capacity of 500 million standard cubic feet per day.
