GBB Power holds a 70% stake in Solaron Power, while the remaining 30% is owned by strategic partners.
GBB Power Limited has entered the renewable energy sector by signing an agreement to develop a solar power plant, following a 99% surge in its share price over the past few weeks.
According to a disclosure filed with the Dhaka Stock Exchange (DSE) today (24 August), the company’s subsidiary, Solaron Power Limited, has signed a 25-year Power Purchase Agreement (PPA) with Cumilla Cantonment.
Under the agreement, Solaron Power will install a 5.005 MWp ground-mounted solar power plant on a Build, Own, Operate and Transfer (BOOT) basis.
GBB Power holds a 70% stake in Solaron Power, while the remaining 30% is owned by strategic partners.
The renewable energy project comes as GBB Power’s share price has surged sharply in recent weeks, gaining nearly 99%.
The project, with an estimated investment of Tk6 crore, is expected to begin commercial operations in the first half of 2027.
The announcement comes after a period of extraordinary volatility for the company’s stock. DSE data shows the scrip was trading at Tk8.2 on 28 July 28, before skyrocketing 99% to reach Tk16.3 by 18 August. The share price closed at Tk14.20 today.
The move into solar is significant for GBB Power as its two existing power plants are currently non-operational following the expiry of their previous government contracts.
Source: The Business Standard
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