The New Nation - Internet Edition

Country's first Independent Power Producer in private sector Summit Power Limited on Wednesday held its 10th Extra-Ordinary General Meeting (EGM) at Bashundhara Convention Centre at Baridhara to pass a special resolution for incorporating a new qualifying object clause in the Memorandum of Association of the company to assure the lenders for repayment of facilities granted to any associate or subsidiary company (ies).

The shareholders of the company present at the EGM approved of the incorporation of the new qualifying object clause in the Memorandum of Association subject to the permission of the High Court Division of the Supreme Court of Bangladesh on petition under Section 13 of the Companies Act 1994.

Presided over by Director Syed Fazlul Haque, the meeting was also attended by Tauhidul Islam, Managing Director; Md. Latif Khan, Ms. Ayesha Aziz Khan, Tapan Krishna Podder Helal Uddin Ahmed (all Directors), Mahmud Hasan, Financial Controller and Company Secretary and other senior officials of the company.

Summit Power Limited since establishment in the year 2001 has three power plants each with 11 MW capacity for sale of electricity to Rural Electrification Board (REB) under Build, Own and Operate basis at Savar, Narsingdi and Comilla. The company has already expanded its total generation capacity to 105 MW.

Summit Power Limited is also going to implement another four power plants totaling a capacity of 110 MW. Out of the four power plants, three will be 33 MW each located at Jangalia, in Comilla, Rupganj in Narayanganj, Maona in Gazipur and one 11 MW, located at Ullapara in Sirajgonj through its two subsidiary Summit Uttaranchol Power Company Limited and Summit Purbanchol Power Company Limited. With the establishment of the new projects generation capacity will be raised to 215 MW.

Considering the immense opportunities, the company is striving to establish more small power plants ranging 10MW to 50MW around the country. The fast-growing company has set a mission to expand the company with a power generation capacity to the tune of 1000 MW, which is a modest 20 percent of the electricity requirement in Bangladesh.