What Baraka Power does

Baraka Power Limited is a Bangladesh-based Independent Power Producer (IPP) that develops and operates HFO-fired power plants on a Build-Own-Operate (BOO) basis under 15-year Power Purchase Agreements with the state-owned Bangladesh Power Development Board (BPDB). Incorporated in 2007 and listed on the Dhaka and Chittagong Stock Exchanges, the company is the only private-sector power generator developed by a group of Non-Resident Bangladeshi investors. The group operates approximately 376 MW of installed capacity across five plants: a 51MW plant at Fenchuganj (Sylhet), Baraka Patenga Power, Baraka Shikalbaha Power Limited (105MW, Chattogram), and Karnaphuli Power Limited (110MW HFO-fired with a 6.5MW combined heat and power heat-recovery system). Technology is sourced from tier-one OEMs including Wartsila (4-stroke reciprocating supercharged engines), GE (gas generators), and Alfa Laval (waste-heat recovery boilers).

The group has diversified beyond power generation into two adjacent subsidiaries: Baraka Fashions Limited (a 10-line 100% export-oriented woven garments manufacturer in Gazipur, established 2016) and Baraka Securities Limited (a stock brokerage subsidiary of Baraka Patenga Power that began trading in April 2022). Revenue is generated predominantly through long-term capacity and energy payments from BPDB under negotiated PPAs, with a stated mission to become the largest private-sector power generator in Bangladesh. The company is family-controlled by the Chowdhury group, led by Chairman Faisal Ahmad Chowdhury and Managing Director Fahim Ahmed Chowdhury, and holds the AA2 credit rating from CRAB - the highest rating achieved by any private power plant in Bangladesh. Operational subsidiaries are ISO 9001:2015 certified, and the company has received the ICMAB Best Corporate Award in the power generation category in multiple consecutive years (2012-2014, 2016, 2019-2021).

Name

Baraka Power

Legal name

Baraka Power Limited

Website

https://barakapower.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Baraka Power Limited is a Bangladesh-based Independent Power Producer operating approximately 376 MW of HFO-fired generating capacity under 15-year PPAs with state-owned BPDB, supplemented by a garments subsidiary and a brokerage subsidiary.

Ownership category

akta.pro rank

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Others

Revenue model

1. Electricity Generation and Supply: Baraka Power generates electricity from its power plants and supplies to the national grid under long-term Power Purchase Agreements (PPAs) with Bangladesh Power Development Board (BPDB) for 15-year terms on BOO basis.
2. Garments Manufacturing (via Baraka Fashions Limited): 100% export-oriented woven garments manufacturing with 10 lines capacity, specializing in formal and casual shirts and ladies blouses.
3. Securities Trading (via Baraka Securities Limited): Baraka Securities Limited, a subsidiary, operates share trading services on Dhaka Stock Exchange.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Baraka Power Limited is an Independent Power Producer (IPP) in Bangladesh that operates HFO (Heavy Fuel Oil) fired power plants and supplies electricity to the national grid under 15-year Build, Own, Operate (BOO) Power Purchase Agreements with the Bangladesh Power Development Board (BPDB). The company group operates multiple plants totaling approximately 376 MW of generation capacity across Fenchuganj, Patenga, Shikalbaha, and Karnaphuli locations, supplemented by adjacent garments manufacturing and securities trading subsidiaries.

Product overview

Baraka Power is a diversified group of companies in Bangladesh led by parent Baraka Power Limited, the only private sector power generation company developed by Non Resident Bangladeshi (NRB) investors. The group operates multiple power plants: the original 51MW Fenchuganj plant, Baraka Shikalbaha Power Limited (105MW HFO-fired), and Karnaphuli Power Limited (110MW HFO-fired with heat recovery). The group has diversified into readymade garments (Baraka Fashions Limited - 10-line woven factory) and financial services (Baraka Securities Limited - stock trading). All power plants operate on BOO basis supplying electricity to the national grid under agreements with Bangladesh Power Development Board.

Differentiator

Problem solved

Functional benefit

Products and services

• Fenchuganj 51MW Power Plant (Baraka Power Limited) 51MW HFO-fired power plant at Fenchuganj, Sylhet operated on a 15-year BOO basis under a Power Purchase Agreement with BPDB; the original operating facility of the Baraka Group and the only private sector power generating company developed by a group of Non Resident Bangladeshi (NRB) investors.
• Baraka Shikalbaha Power Limited (BSPL) - 105MW A 105MW HFO-fired power plant located at Shikalbaha, Chattogram on the bank of Karnaphuli River, equipped with Wartsila engines; began commercial operation in May 2019 and supplies electricity to the national grid under a PPA with BPDB.
• Karnaphuli Power Limited (KPL) - 110MW A 110MW HFO-fired IPP power plant at Kolagaon, Patiya, Chattogram, equipped with 6 Wartsila 4-Stroke Reciprocating Super Charged Engines (model W18V50); additionally generates 6.5 MW through a heat recovery steam turbine without extra fuel consumption, supplying the national grid under a PPA with BPDB.
• Baraka Patenga Power Limited

Quantifiable outcome

• Continuous electricity supply to national grid for socio-economic development of Bangladesh
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• Wartsila Finland OYcoreTechnology or Integration · 18 September 2017Engine Purchase Agreement signed with Wartsila Finland OY to purchase 06 nos. of Gen-Sets for Karnaphuli 110MW Power Plant. KPL uses Wartsila 4-Stroke Reciprocating Super Charged Engines model W18V50. Baraka Group also purchased 12 engines from Wartsila for BSPL and KPL projects.
• Bangladesh Power Development Board (BPDB)coreStrategic or Co-development Partner · 28 April 2008BPDB initiated the tendering process for power generation projects. Baraka Power won the bid for implementing a 51MW power plant at Fenchuganj, Sylhet for 15 years on BOO basis. Power Purchase Agreement (PPA) signed on April 28, 2008 for electricity generation and supply.
• Dhaka Stock Exchange (DSE)coreOthersBaraka Power Limited is a publicly listed company on Dhaka Stock Exchange and Chittagong Stock Exchange.
• Government of Bangladesh (GoB)coreStrategic or Co-development PartnerImplementation Agreement signed with GoB represented by Ministry of Power, Energy and Mineral Resources for implementing HFO fired IPP power plant on BOO basis.

Scale indicators10 records

Recent moves11 records

Expansion highlights4 records

Broad incumbents

• Tata Power Company: Diversified Indian power generation and distribution major with thermal generation assets; comparable as a broad incumbent in South Asian private power generation, though materially larger and more diversified.
• Adani Power: Large Indian private-sector thermal IPP with similar HFO/coal-fired generation model and long-term PPA-based revenue; comparable in fuel-dependency and counterparty dynamics, though at much larger scale.
• NTPC Limited: India's largest state-owned power generator with extensive thermal and renewable portfolio; provides benchmark for South Asian utility-grade generation scale and operational standards relevant to Baraka's growth ambitions.
• Power Grid Company of Bangladesh (PGCB): State-owned national grid operator; while not a peer in generation, it is the structural counterparty infrastructure for all BPDB-supplied IPPs including Baraka, governing wheeling and evacuation terms.

Direct peers

• Energypac Power Generation: Bangladesh-based power generation company engaged in IPP operations and power equipment supply; competes with Baraka in BPDB tender processes and operates comparable BOO contract structures.
• Summit Power International: Largest private-sector IPP in Bangladesh, operating multiple gas and HFO-fired power plants supplying BPDB under long-term PPAs. Directly comparable in customer base, contract structure, and fuel mix.
• United Power Generation & Distribution Company: Bangladesh-listed IPP and distribution company operating gas- and HFO-fired plants supplying BPDB. Closest peer in scale, listed-equity structure, and Bangladesh power-generation focus.
• Doreen Power Generations and Systems: Bangladesh-listed IPP operating HFO- and gas-fired plants supplying the national grid under PPAs with BPDB. Comparable in scale, technology, and customer concentration.

Regional players

• Engro Energy: Pakistan-based IPP operating thermal and renewable assets under long-term PPAs; comparable as a regional South Asian IPP with similar counterparty (state utility) and PPA-driven revenue model.
• Lanka Bangla Finance (Power sector exposure): While primarily a financial institution, it has financed multiple Bangladeshi IPPs and provides comparable market intelligence on the Bangladesh IPP sector dynamics affecting Baraka.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/barakagroupbd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Baraka Power