Summit Power resumes production at 2 plants

The Bangladesh Rural Electrification Board (REB) has agreed to let Summit Power, a listed company on the stock exchange, resume production at its two power plants.

In a filing with the Dhaka Stock Exchange (DSE) on Tuesday, the company disclosed the matter.

Earlier, Summit Power’s 13.5 MW Chandina Power Plant (Unit-2) was shut down on November 15 and 24.3 MW Madhabadi Power Plant (Unit-2) on December 16, 2021 respectively due to expiry of power purchase agreements. 

Now, REB has agreed to let the company resume the production from February 7. Accordingly, both the power plants are now in operation.

However, the company is also now in the process of negotiating tariff and other terms and conditions of renewal power purchase agreements with the REB.