Summit Power Limited (SPL)
Summit Power Limited (SPL), sponsored by Summit Group, is the first Bangladeshi Independent Power Producer (IPP) in Bangladesh in private sector providing power to national grid. SPL was incorporated in Bangladesh on March 30, 1997 as a Private Limited Company. On June 7, 2004 the Company was converted to Public Limited Company under the Companies Act 1994.
Summit Power Limited in the year 2001, has successfully established three power plants of 11 MW capacity each, for sale of electricity to Rural Electrification Board (REB) on Build, Own and Operate basis at Savar, Narsingdi and Comilla. During 2006 and 2007 in each of the above three places, 2nd unit was commissioned enhancing the capacity of SPL to 105 MW.
In 2009 SPL with its 99% owned two subsidiaries has established 4 new power plants raising its capacity to 215 MW.
In 2011 SPL has commissioned another power plant of 102 MW capacity at Narayanganj under Summit Narayanganj Power Limited, where SPL has 55% ownership.
In association with its parent company Summit Industrial & Mercantile Corporation (Pvt.) Ltd. (SIMCL), SPL has also participated and became lowest bidder in three more power plants tender and expected to sign contracts with BPDB for establishment of 52 MW Summit Shantahar, 104 MW Summit Saidpur and 104 MW Summit Amin Bazar Power Plants. These are 15 years term IPP is expected to be commissioned by 3rd quarter of 2012.
Considering the immense opportunities, the company is striving to establish more power plants 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% of the electricity requirement in Bangladesh.