Doreen gets approval to restart Narsingdi power plant

Private electricity producer Doreen Power Generations and Systems Ltd is set to restart its Narsingdi power plant, which suspended power output in December last year. 

In a filing to the Dhaka Stock Exchange, Doreen said the Bangladesh Rural Electrification Board (BREB) approved the resumption of the 22-megawatt plant as per the terms and tariff schedule of the existing power purchase agreement. 

This arrangement will continue until a new deal is signed for the next five years on a "no electricity no payment basis". 

The company said it will negotiate tariffs and other terms of the renewal agreement with BREB. 

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

The company closed its 22-megawatt plant in Feni this week as the government has yet to extend the contract on power purchase.

Shares of Doreen increased 0.3 percent to Tk 42.3 as of 11:32 am today.