United Power Generation & Distribution

What United Power Generation & Distribution does

United Power Generation & Distribution Company Ltd. (UPGDCL) is Bangladesh's first commercial Independent Power Producer, founded in 2007 and listed on the Dhaka Stock Exchange under the ticker UPGDCL. The company generates and distributes electricity and steam under regulated agreements with BEPZA inside Dhaka and Chittagong Export Processing Zones (combined 160 MW and up to 20 TPH steam through co-generation), using Wärtsilä Finland 20V34SG and Rolls-Royce Norway B35:40V20AG2 gas-fired reciprocating engines paired with exhaust gas boilers. It also owns Bangladesh's largest privately owned electricity distribution network at 11 kV and 33 kV inside DEPZ.

Beyond the EPZ operations, UPGDCL has built out a portfolio of wholly-owned subsidiaries supplying the national grid under long-term Power Purchase Agreements with BPDB and REB: United Anwara Power Ltd. (300 MW), United Mymensingh Power Ltd. (200 MW), United Ashuganj Energy Ltd. (195 MW, in joint venture with the Government of Bangladesh), United Payra Power Ltd. (150 MW), United Jamalpur Power Ltd. (115 MW), and two quick-rental plants of 53 MW and 28 MW, bringing aggregate capacity to over 1,100 MW.

The business model is anchored in subscription-style, regulated offtake: B2B sales to EPZ industries via Power Supply Agreements with BEPZA, and B2G sales of grid power to BPDB and the Rural Electrification Board under PPAs, with project-level debt financed by HSBC, Standard Chartered, IFC, World Bank IPFF, DEG, Finnvera, and local banks. The firm has earned multiple industry awards (Gold Asian Power 2015, Best Large IPP 2016, Best Power Producer 2018, Bangladesh Operational Innovation of the Year – Energy 2025) and ISO 9001/14001/45001 certifications at UPPL, reinforcing its standing as a multi-utility power and steam provider in Bangladesh.

Name

United Power Generation & Distribution

Legal name

United Power Generation & Distribution Company Ltd.

Website

https://unitedpowerbd.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Independent Power Generation

NAICS

Electric Power Generation (22111), Fossil Fuel Electric Power Generation (221112), Electric Power Generation, Transmission and Distribution (2211)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)

akta.pro secondary industry

Utility-Scale Power Generation Asset Management (EUAEAMAA)

Keywords

• Independent power generation
• Steam co-generation
• Electricity distribution services
• IPP power producer
• Gas-fired power plants

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Others

Revenue model

1. Power Generation and Distribution: Generating and distributing electricity to industries within EPZs under Power Supply Agreements with BEPZA, and to national grid under PPAs with BPDB.
2. Steam Generation and Distribution: Supplying steam (up to 20 TPH combined) to industrial clientele within EPZs as part of co-generation operations.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels1 record

Core offering

United Power Generation & Distribution Company Ltd. (UPGDCL) is Bangladesh's first commercial Independent Power Producer (IPP), generating and distributing electricity and steam to industrial clients within Export Processing Zones and to the national grid. The company operates gas-fired reciprocating engine power plants across multiple locations with co-generation capability, supplying both power (up to 1,100+ MW portfolio) and steam (up to 20 TPH) under long-term Power Supply Agreements with BEPZA and Power Purchase Agreements with BPDB and REB.

Product overview

United Power Generation & Distribution Company Ltd. (UPGDCL) operates as Bangladesh's first multi-utility service provider, delivering both power generation and steam distribution. The company's portfolio includes multiple gas-fired and reciprocating engine power plants totaling over 1,100 MW of generation capacity across various locations including Dhaka EPZ (86 MW), Chittagong EPZ (72 MW), United Anwara (300 MW), United Ashuganj (195 MW), United Mymensingh (200 MW), United Jamalpur (115 MW), and United Payra (150 MW). Additionally, the company operates 28 MW and 53 MW plants in Sylhet and Ashuganj respectively. UPGDCL distinguishes itself through integrated co-generation capabilities providing both electricity and steam to industrial clients, with the largest privately owned distribution network operating at 11 kV and 33 kV.

Differentiator

Problem solved

Functional benefit

Products and services

• Dhaka EPZ (DEPZ) Power Plant A gas-fired power plant with 86 MW combined output capacity inside Dhaka Export Processing Zone, featuring Wärtsilä and Rolls-Royce engines, with 8 TPH steam production capability through exhaust gas boilers. Supplies power and steam to industries within DEPZ.
• Chittagong EPZ (CEPZ) Power Plant A gas-fired power plant with 72 MW combined output capacity inside Chittagong Export Processing Zone, featuring Wärtsilä and Rolls-Royce engines, with 12 TPH total steam production capacity. Supplies power and steam to industries within CEPZ.
• United Anwara Power Ltd. (UAnPL) A 300 MW reciprocating engine power plant with co-generation capabilities, located in Anwara, described as one of the country's largest reciprocating engine genset plants with co-generation. Supplies power to BPDB under PPA.
• United Ashuganj Energy Ltd. (UAEL) A 195 MW natural gas plant with 20 MW co-generation capacity, located adjacent to Ashuganj Power Station Company Ltd., Bangladesh's first modular combined cycle plant joint venture with the government. Supplies power to national grid under PPA with BPDB.
• United Mymensingh Power Ltd. (UMPL) A 200 MW power plant with co-generation capabilities located in Jamalpur, completed in record time of 180 days after PPA signing, awarded The Best Power Producer of 2018. Supplies power to BPDB.
• United Jamalpur Power Ltd. (UJPL) A 115 MW power plant located in Jamalpur, completed 150 days ahead of schedule, contributing to Bangladesh's national electricity grid under PPA with BPDB.
• United Payra Power Ltd. (UPPL) A 150 MW reciprocating engine power plant with state-of-the-art Wärtsilä-18V50 technology located in Patuakhali, featuring exhaust gas heat recovery boilers for environmental compliance. Holds ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 certifications.
• United Energy Limited 53 MW A 53 MW quick rental power plant located in Ashuganj, completed in 120 days, generating electricity for the national grid under PPA with BPDB.
• United Energy Limited 28 MW A 28 MW power plant (formerly Shahjahanullah Power Generation Company Ltd.) supplying uninterrupted power to Rural Electrification Board (REB) and Bangladesh Power Development Board (BPDB).
• Electricity Distribution Services The first and largest privately owned electricity distribution network in Bangladesh, distributing power at 11 kV and 33 kV through 20 km and 30 km distribution lines respectively within Dhaka and Chittagong EPZs.
• Steam Generation & Distribution Steam generation with capacity up to 20 TPH across two power plants (DEPZ and CEPZ), catering to industrial clientele within the export processing zones through exhaust gas boilers.

Quantifiable outcome

• 160 MW combined power generation capacity
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Karnaphuli Gas Distribution Co. Ltd.coreOthers · 15 May 2013Current gas supplier for Chittagong EPZ plant, replacing Bakhrabad Gas Distribution Co. Ltd. Gas Supply Agreement effective from 15 May 2013.
• Titas Gas Transmission & Distribution Co. Ltd.coreOthers · 16 November 2008Gas Supply Agreement for supplying natural gas as fuel to Dhaka EPZ power plant engines.
• Bangladesh Export Processing Zones Authority (BEPZA)coreStrategic or Co-development Partner · 16 May 2007Long-term Power Supply Agreement and Land Lease Agreement for operating power plants within Dhaka EPZ and Chittagong EPZ. BEPZA is the regulatory authority overseeing export processing zones in Bangladesh.

Scale indicators6 records

Recent moves7 records

Expansion highlights4 records

Emerging players

• Wärtsilä Corporation: Finland-based manufacturer of reciprocating engines used in UPGDCL's plants (Wärtsilä 20V34SG, 18V50). Technology and equipment supplier to UPGDCL; comparable in engine-based power generation, though as OEM rather than IPP.
• Rolls-Royce Power Systems (mtu): Manufacturer of the B35:40V20AG2 engines used in UPGDCL's CEPZ and DEPZ plants. Technology supplier peer — both share engine-based power generation expertise, though Rolls-Royce is an OEM rather than IPP operator.

Broad incumbents

• Aggreko plc: Global leader in temporary and modular power generation using gas and diesel reciprocating engines. Comparable technology platform (engine-based power), though focused on rental/decentralized generation rather than long-term utility IPPs.

Direct peers

• Summit Power International: Bangladesh-focused Independent Power Producer with multiple gas-fired plants supplying BPDB and industrial customers. Most direct comparable given same geography, regulatory framework (Bangladesh IPP sector), and customer base.
• Baraka Power Limited: Bangladesh IPP operating gas-fired and HFO power plants under PPAs with BPDB. Comparable in scale, fuel mix, and customer concentration on Bangladesh's national grid.
• Doreen Power Generations and Systems: Bangladesh-listed IPP with multiple power plants under BPDB PPAs. Comparable business model serving the same regulatory and customer environment as UPGDCL.
• Confidence Power Holdings: Bangladeshi IPP with reciprocating engine and gas turbine plants supplying BPDB. Direct peer given similar technology stack (reciprocating engines) and Bangladesh-only operational footprint.

Regional players

• Khulna Power Company: Bangladesh-based IPP operating multiple gas and diesel engine plants under BPDB PPAs. Direct regional peer with similar fleet composition and regulatory exposure.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries7 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 United Power Generation & Distribution