Joules Power
Joules Power Limited is a private Bangladeshi solar Independent Power Producer operating utility-scale and commercial & industrial photovoltaic installations — including the country's first grid-connected floating solar system — supplying electricity to the national grid and large manufacturing conglomerates under 20-year PPAs and OPEX contracts.
- Company typePrivate
- Founded2015
- HeadquartersDhaka, Bangladesh
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Joules Power does
Joules Power Limited (JPL) is a privately owned Bangladeshi solar Independent Power Producer (IPP) and renewable energy developer headquartered in Dhaka. Founded by Nuher Latif Khan and acquired by diversified conglomerate Expo Group in 2016, the company develops, finances, builds, and operates utility-scale and commercial & industrial (C&I) photovoltaic installations. Its core technology comprises ground-mounted, rooftop, and floating solar PV systems built using Tier-1 components including Jinko Solar, JA Solar, and Trina Solar modules paired with Huawei and SMA inverters, plus a proprietary floating solar anchoring design (food-grade plastic floats with a 20-year lifetime). JPL pioneered Bangladesh's first utility-scale grid-tied solar IPP (TSEL, 20 MW in Teknaf, operational since September 2018) and the country's first large-scale grid-connected floating solar PV system (Nawab Auto Rice and Feed Mills, 2023).
The company operates two primary revenue streams. For IPP projects, JPL generates electricity sold to the national grid under 20-year Power Purchase Agreements with the Bangladesh Power Development Board on a 'no power, no money' basis; this is a subscription-style recurring revenue model with two subsidiaries — TSEL (operational) and MSEL (20 MW, under development in Muktagacha, Mymensingh). For C&I projects, JPL serves large manufacturing conglomerates under either an OPEX model (JPL owns and operates the system, customer pays per kWh) or a Capex model (customer purchases the system outright, JPL provides EPC). Named C&I customers include Robintex Group (3.2 MW), SQ Group (2.39 MW), Akij Ceramics (5.1 MW), Akij Biax (3.4 MW), Nawab Auto Rice & Feed Mills (2 MW), and Saiham knit Composite (325 kW). Go-to-market is enterprise field sales targeting government entities (for IPPs) and large industrial groups (for C&I), with no digital self-serve channel.
JPL's recent activity is centered on the development of MSEL — inaugurated in June 2024, financed by a $24.3 million ADB/LEAP 2 debt package signed in December 2024, and projected to generate 37.9 GWh annually — and on broadening the C&I book across multiple industrial verticals (textiles, ceramics, bi-ax film, rice processing). The company carries two flagship industry awards (Asian Power Award 2018; Finance Asia 'Best Bangladesh Deal' 2018) and benefits from parent-group backing by Expo Group. A significant leadership transition occurred with the January 2025 passing of founder and Managing Director Nuher Latif Khan at age 41.
Joules Power firmographics
Firmographics- Name
- Joules Power
- Legal name
- Joules Power Limited
- Website
- https://jpl-bd.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Joules Power Limited is a private Bangladeshi solar Independent Power Producer operating utility-scale and commercial & industrial photovoltaic installations — including the country's first grid-connected floating solar system — supplying electricity to the national grid and large manufacturing conglomerates under 20-year PPAs and OPEX contracts.
- Ownership category
- akta.pro rank
Joules Power industry classification
Industry- Product category
- Solar Power Generation
- NAICS
- Solar Electric Power Generation (221114), Electric Power Generation (22111)
- SIC
- Electric Services (4911), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)
- akta.pro secondary industries
- Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro) (EUACALAJ), Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Distributed & Commercial Renewable O&M (Rooftop Solar, C&I Wind, Small Hydro) (EUAMAGAB), DER Financing, Leasing & Billing Platforms (TPO, PPA, On-Bill) (EUAMAJAJ)
Where Joules Power is headquartered
LocationHeadquarters
- HQ city
- Dhaka
- HQ country
- Bangladesh
- HQ region
- Asia
Offices5 records
Markets served
Joules Power business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- IPP Electricity Sales: Independent Power Producer model selling generated electricity to the national grid through 20-year Power Purchase Agreements (PPAs) with Bangladesh Power Development Board. Revenue generated from long-term fixed-rate contracts for utility-scale solar installations.
- Commercial & Industrial OPEX Model: Operational Expenditure model where JPL owns and operates solar installations on customer premises. Customers pay for electricity generated at negotiated rates without upfront capital investment, providing long-term energy savings and reduced carbon emissions.
- Commercial & Industrial Capex Model: Capital Expenditure model where JPL designs and installs solar systems for customers who purchase the equipment outright. JPL provides engineering, procurement, and construction services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | IPP Power Purchase Agreement - 20-year fixed rate contracts with national grid |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Joules Power product offering
Product offeringCore offering
Joules Power Limited develops, finances, builds, owns, and operates utility-scale solar photovoltaic power plants as an Independent Power Producer (IPP) selling electricity to the Bangladesh national grid through 20-year Power Purchase Agreements with the Bangladesh Power Development Board. The company additionally delivers Commercial & Industrial rooftop and floating solar installations to large manufacturing enterprises under OPEX (JPL owns and operates) and Capex (client purchases equipment) models, enabling industrial customers to reduce energy costs, export excess power via net metering, and lower carbon emissions.
Product overview
Joules Power Limited (JPL) operates as a privately owned solar energy company and independent power producer (IPP) in Bangladesh. Its product portfolio consists of two core utility-scale IPP solar plants (TSEL and MSEL, both 20 MW), supplemented by a range of Commercial & Industrial (C&I) solar project offerings delivered under OPEX and Capex models. Key C&I projects include installations for Robintex Group (3.2 MW), SQ Group (2.39 MW), Akij Group (5.1 MW + 3.4 MW), Nawab Auto Rice & Feed Mills (2 MW), and Saiham knit Composite Ltd. (325 kW). JPL also pioneered Bangladesh's first large-scale floating solar PV system at Nawab Auto Rice & Feed Mills. The company offers solar solutions for businesses through rooftop, floating, and ground-mounted installations, enabling enterprises to reduce energy costs, export excess power via net metering, and meet sustainability targets.
Differentiator
Problem solved
Functional benefit
Products and services
- Technaf Solartech Energy Limited (TSEL) 20 MW grid-tied solar photovoltaic power plant located on the shores of the Naf River in Teknaf, Bangladesh, on 116 acres of land. TSEL is Bangladesh's first utility-scale solar power plant and a majority-owned subsidiary of JPL, feeding 20 MW to the local substation during sunlight hours and supplying clean energy to the national grid.
- Muktagacha Solartech Energy Limited (MSEL) 20 MW AC solar photovoltaic power plant under development on 75 acres of uncultivated, barren land in Nimuria, Muktagacha, Mymensingh, Bangladesh. A subsidiary project of JPL that will meet regional electricity demand and feed surplus power into the national grid under a 20-year Power Purchase Agreement with the Bangladesh Power Development Board.
- Commercial & Industrial (C&I) Solar Projects Solar power solutions for commercial and industrial enterprises delivered under the OPEX model (JPL owns and operates; client pays for electricity generated, no upfront capital) and Capex model (client purchases the equipment outright with JPL providing EPC services). Includes rooftop, ground-mounted, and floating solar installations with net metering integration, enabling businesses to reduce energy costs, achieve sustainability goals, and export excess power to the national grid.
- Floating Solar PV System Innovative floating solar photovoltaic system installed on water bodies such as fish-farm reservoirs, combining aquaculture with solar power generation (aquavoltaics). The first large-scale grid-connected floating solar PV system in Bangladesh, using food-grade plastic floats with 20-year lifetime and storm-resistant anchoring systems.
Quantifiable outcome
- 36 MW total power capacity deployed and under development
- +4 more outcomes
Companies that use Joules Power
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles2 records
Joules Power technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Joules Power partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- PROINSOcorePROINSO collaborated with JPL on Teknaf solar project, Bangladesh's first utility-scale solar facility. PROINSO's involvement in project development and equipment sourcing contributed to successful implementation.
- Expo GroupcoreExpo Group acquired Joules Power Limited in 2016. Expo Group has over 30 years of experience across various industries including renewable energy, logistics, freight forwarding, and infrastructure. Parent company providing strategic direction and resources.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Joules Power competitors and assessment
Company assessmentRegional players
- ACME Solar Holdings: India-based utility-scale solar IPP with a portfolio of multi-gigawatt projects under long-term PPAs with Indian discoms. Comparable as a regional solar IPP developer reliant on long-dated PPA revenue, though operating in a more mature and competitive Indian market.
- Fourth Partner Energy: India-focused C&I and distributed solar developer (now part of Reliance) executing OPEX/PPA-style projects for industrial clients — closely analogous to JPL's C&I OPEX business. Comparable operating model with shared C&I customer profile across emerging Asia.
Emerging players
- Sun King (formerly Greenlight Planet): Emerging-markets solar energy provider with pay-as-you-go and C&I offerings across South Asia and Africa. Comparable as a distributed/emerging-market solar platform targeting under-electrified and cost-sensitive commercial customers, though more retail/SMB-focused than JPL's industrial IPP core.
Broad incumbents
- Summit Power International: Bangladesh's largest private-sector power producer with a diversified gas- and renewables-based IPP portfolio under long-term PPAs with BPDB. Comparable business model on the IPP/PPA side but materially larger and primarily gas-fired rather than solar-led.
- Adani Green Energy: One of India's largest renewable IPPs operating utility-scale solar and wind under long-term PPAs. Relevant as a large incumbent establishing the playbook for emerging-market solar IPPs at scale and a benchmark for capital costs and PPA economics.
- Tata Power Solar Systems: India-based solar EPC, rooftop, and IPP business of Tata Power serving both utility and C&I customers. Comparable across the rooftop/C&I solar delivery model and as a benchmark for premium-grade solar project execution.
- Azure Power Global: India-based utility-scale solar IPP with a multi-gigawatt portfolio under long-term PPAs, historically listed in the US. Comparable IPP model and reliance on long-dated offtake contracts, useful as a benchmark for DFI-funded emerging-market solar IPP economics.
Direct peers
- Rahimafrooz Renewable Energy: Bangladesh conglomerate-backed renewable energy arm of Rahimafrooz Group, active in solar EPC and IPP development. Directly comparable on the C&I and utility-scale solar IPP axis within Bangladesh, with similar parent-conglomerate backing.
- Omera Solar (formerly Solar Intercon Limited): Bangladesh-based solar IPP and EPC contractor developing utility-scale and rooftop solar projects with similar PPP/PPA structures against BPDB. Most directly comparable to JPL in product mix (utility-scale + C&I solar) and geographic focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Joules Power social profiles
Digital presenceJoules Power financial estimates
Financial estimateRevenue estimate
Valuation estimate
Joules Power leadership team
Management profileNumber of profiles
Profiles3 records
Joules Power subsidiaries and ownership
Company hierarchySubsidiaries2 records
Joules Power funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Joules Power M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Joules Power
What does Joules Power do?
Joules Power Limited develops, finances, builds, owns, and operates utility-scale solar photovoltaic power plants as an Independent Power Producer (IPP) selling electricity to the Bangladesh national grid through 20-year Power Purchase Agreements with the Bangladesh Power Development Board. The company additionally delivers Commercial & Industrial rooftop and floating solar installations to large manufacturing enterprises under OPEX (JPL owns and operates) and Capex (client purchases equipment) models, enabling industrial customers to reduce energy costs, export excess power via net metering, and lower carbon emissions.
Is Joules Power a public or private company?
Joules Power is a private company. It is classified as corporate owned and is currently operating.
When was Joules Power founded?
Joules Power was founded in 2015. It employs 11 to 50 people.
Where is Joules Power based?
Joules Power is headquartered in Dhaka, Bangladesh, in the Asia region.
How does Joules Power make money?
Three revenue lines are on record. IPP Electricity Sales are the primary driver. The others are commercial & Industrial OPEX Model and commercial & Industrial Capex Model.
Who are Joules Power's main competitors?
Regional players on record are ACME Solar Holdings and Fourth Partner Energy. Sun King (formerly Greenlight Planet) is listed as an emerging player. Broad incumbents are Summit Power International, Adani Green Energy, Tata Power Solar Systems and Azure Power Global. Direct peers are Rahimafrooz Renewable Energy and Omera Solar (formerly Solar Intercon Limited).
Does Joules Power have an API?
No public API is recorded for Joules Power.
What industry is Joules Power in?
Joules Power's product category is Solar Power Generation. Its primary akta.pro industry code is EUAMABAA, Solar Project Development & IPP (Utility-Scale & Rooftop), with a secondary code of EUACALAJ, Renewable Distributed Generation (Rooftop/Onsite Solar, Small Wind, Small Hydro). Its NAICS code is 221114 and its SIC code is 4911.