Beximco bought an additional 3.5 crore shares for Tk 35 crore of its power-generating subsidiary to bring the total holding to 7.5 crore shares, which is 75 per cent of the company. Beximco Power owns 80 per cent of two solar generating companies, Teesta Solar and Korotoa Solar, which have previously concluded power purchase agreements with the Bangladesh Power Development Board and an implementation agreement with the government for the supply of 200MW and 30MW solar-generated electricity from solar electricity plants to be established in Gaibandha and Panchagarh respectively. The solar electricity plants will begin in 2022 and thereby make significant contributions to both revenue and profitability of the listed company. Investing in solar power is much more profitable and less risky. Beximco logged in a profit of Tk 44.6 crore in its 2019-20 financial year that ended on June 30, down 68.7 per cent year-on-year.

Source: Dhaka Tribune January 02, 2021 19:07 UTC