Nation’s dream, our promise…
We are dreaming of a Bangladesh when every corner of the nation is brighten with electricity. We dream about an individual, about a society, about a Nation. The power of collective dreams gives us strength and power to achieve our promise.
Baraka Power Limited has been awarded AA2 (Double A Two) Credit Rating by the reputed rating agency, Credit Rating Agency of Bangladesh (CRAB) Ltd. This is the highest rating for a power plant of the country so far achieved. AA2 indicate very strong capacity, sound credit profile, comfortable cash flow, stable profitability and satisfactory solvency of the company.
Baraka Power is a joint collaboration of local and a group of Non Resident Bangladeshi (NRB) entrepreneur. Baraka Power is the only private sector power generating company developed by a group of NRB investors. The company was incorporated in Bangladesh on 26 June 2007 as a Private Limited Company. On 25 September 2008 the Company was converted to Public Limited Company under the Companies Act 1994.
Baraka Power took part in the tendering process initiated by Bangladesh Power Development Board (BPDB) and wins the bid for implementing, generating & supplying electricity from a 51MW power plant at Fenchugonj, Sylhet for a period of 15 years on BOO basis and signed an agreement with Bangladesh Power Development Board on 28 April 2008. For project financing the company appointed Infrastructure Development Company Limited (IDCOL) as lead arranger to arrange syndicated loan for the project. Accordingly a syndication loan facility for Taka 125 crore could be arranged from 6 (six) financial institute.