Doreen halts Narsingdhi power plant as contract expires

Business Desk :
Private electricity producer Doreen Power Generations and Systems Ltd said it has closed its 22-megawatt plant as the government has yet to extend the contract on power purchase.

The previous power purchase agreement between Doreen and the Bangladesh Power Development Board expired on December 20, the company said in a filing to the Dhaka Stock Exchange on Tuesday.

Doreen’s power plant is one of the three plants it operates. Other plants are in Tangail and Feni.

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The company said it had applied for an extension of the contract for supplying electricity to the Power Division on April 9, which is ‘under consideration.’

The plant stopped its operations on December 20 and will wait for further instructions from the government to resume operations.

Doreen’s shares remained unchanged at Tk 61 until 1.28 pm on Tuesday.