GBB Power Limited (GBBPL), an independent power producer supplying electricity to the national grid, has set out to develop an 18-megawatt solar power plant as its existing plants have shut down following the expiry of their power supply agreements. With the closure of its plants, the company’s revenue from operations fell to zero, leaving it reliant on other income – primarily interest earned from fi xed deposit receipts (FDRs).
In a disclosure fi led with the stock exchanges on 27 January, GBB Power said it has signed a power purchase contract with the Bangladesh Power Development Board (BPDB) and a consortium led by Fiber@Home. Under the contract, the company will set up an 18MW (AC) solar power plant near the Hathazari 230/132/33kV grid substation in Chattogram. Power supply to the national grid is expected to begin within 24 months from the date of signing the contract.