Shahjibazar Power Co

What Shahjibazar Power Co does

Shahjibazar Power Co. Ltd. (SPCL) is a Bangladesh-based, publicly listed independent power producer (IPP) that operates a single 86 MW natural gas-fired generation facility at Fatepur, Madhobpur, Hobigonj. The company was incorporated on 4 November 2007 under The Companies Act, 1994, converted to a public limited company on 28 September 2009, and commenced commercial production on 10 February 2009. SPCL supplies 100% of its electricity output exclusively to Bangladesh Power Development Board (BPDB), the state-owned national utility, under a 15-year Power Purchase Agreement signed on 14 February 2008 on a Build-Own-Operate basis. Its shares trade on the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) under ticker SPCL, and the company has paid regular dividends to public shareholders.

SPCL is part of Youth Group, a diversified Bangladeshi conglomerate with 35+ years of operating history across power generation, textile and ready-made garments, petroleum refining, and minerals. The group operates approximately 287 MW of combined power-generation capacity across SPCL (86 MW), Midland Power Co. Ltd. (51 MW), and Midland East Power Ltd. (150 MW HFO-fired). SPCL itself is a focused, single-asset power-generation utility and does not market electricity to retail, commercial, or industrial end-users; its sole commercial interface is the long-term contractual relationship with BPDB. Revenue mechanics are governed entirely by the PPA tariff and BPDB offtake, with no public disclosure of specific tariff rates or revenue figures on the corporate website. The company's go-to-market is structurally zero-touch: there are no sales teams, marketing channels, or customer-acquisition functions because the government off-taker relationship is the entire demand side of the business.

The registered headquarters is at Youth Tower, 822/2 Rokeya Sarani, Dhaka-1216, while the generation asset is located at the Habiganj plant site. SPCL's leadership includes Chairman Anis Salahuddin Ahmad, Vice Chairman Akbor Haider, Managing Director Faridul Alam (son of founder MD Late Feroz Alam), and Directors Faisal Alam and Asgar Haider. The company has been recognized by Bangladesh's National Board of Revenue (NBR) as the Highest Taxpayer in the Energy Sector in both 2020 and 2021.

Name

Shahjibazar Power Co

Legal name

Shahjibazar Power Co. Ltd.

Website

https://youthbd.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Shahjibazar Power Co. Ltd. (SPCL) operates a single 86 MW natural gas-fired power plant in Habiganj, Bangladesh, selling 100% of its output to the state-owned Bangladesh Power Development Board under a 15-year PPA. It is a publicly listed IPP on DSE and CSE, part of Youth Group.

Ownership category

akta.pro rank

Product category

Independent Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112)

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

Gas-Fired Power Plant O&M and Life-Extension/Repowering Services (EUACABAJ)

Keywords

• Natural gas power generation
• Independent power producer
• Power purchase agreement
• BOO power plant
• Electricity generation services

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel

Revenue model

1. Power Generation and Sale: SPCL generates electricity from its 86 MW natural gas-fired power plant and sells all output to Bangladesh Power Development Board (BPDB) under a long-term Power Purchase Agreement (PPA). Revenue is derived from the contractual electricity supply arrangement with the government utility. The company is listed on stock exchanges (DSE and CSE) and has been paying regular dividends to shareholders.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Shahjibazar Power Co. Ltd. operates a single 86 MW natural gas-fired power plant at Fatepur, Madhobpur, Hobigonj, Bangladesh, which commenced commercial production on 10 February 2009. The company generates electricity exclusively from natural gas and sells 100% of its output to the state-owned Bangladesh Power Development Board (BPDB) under a 15-year Power Purchase Agreement (PPA) signed on 14 February 2008, operating the facility on a Build, Own, Operate (BOO) basis.

Product overview

Shahjibazar Power Co. Ltd. (SPCL) is a Public Limited Company and a subsidiary of Youth Group. It operates a single 86 MW natural gas-fired power generation facility. The company generates electricity and sells it exclusively to Bangladesh Power Development Board (BPDB) under a 15-year Power Purchase Agreement (PPA) that began in February 2008. SPCL is listed on Bangladesh stock exchanges (DSE and CSE) and provides investor relations materials including annual reports, quarterly reports, and shareholder information. The company does not offer multiple distinct products or modules; it is a focused power generation utility operating one generation plant.

Differentiator

Problem solved

Functional benefit

Products and services

• 86 MW Natural Gas-Fired Power Generation (Shahjibazar Power Plant) A single 86 MW natural gas-fired power generation facility that produces electricity exclusively for sale to the state-owned Bangladesh Power Development Board (BPDB) under a 15-year PPA. The plant began commercial production on 10 February 2009, operates on a Build-Own-Operate (BOO) basis, and supplies baseload power to Bangladesh's national grid for the sole government off-taker.

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

Feature1 record

Partnerships

One partnership is on record.

• Bangladesh Power Development Board (BPDB)coreOthers · 14 February 2008SPCL signed a 15-year Power Purchase Agreement (PPA) with BPDB on 14th February 2008 for the supply of 86 MW of electricity generated from natural gas. The agreement commenced with commercial production starting 10th February 2009. BPDB is the sole off-taker for all power generated by SPCL.

Scale indicators3 records

Recent moves10 records

Expansion highlights3 records

Direct peers

• Baraka Power Limited: Bangladesh-listed IPP operating gas-fired plants under PPA with BPDB. Same customer, same fuel type, similar regulatory regime, making it a direct comparable for SPCL's economics and dividend profile.
• Midland East Power Ltd. Subsidiary of Midland Power Co. Ltd. operating a 150 MW HFO-fired IPP under BOO basis with a 15-year PPA. Closest peer in scale and contract structure to SPCL within the Youth Group, differing primarily in fuel (HFO vs. natural gas).
• Summit Power Limited: One of Bangladesh's largest independent power producers, listed on DSE/CSE, operating multiple gas and HFO plants under PPAs with BPDB. Highly comparable listed IPP peer in Bangladesh with similar business model, customer, and regulatory environment to SPCL.
• Midland Power Co. Ltd. Same promoter (Youth Group) sister concern operating a 51 MW gas-fired IPP in Bangladesh under a PPA with BPDB. Directly comparable business model, fuel, customer, and contract structure to SPCL, allowing clean benchmarking of plant economics and tariff terms.
• United Power Generation & Distribution Company Ltd: Bangladesh-listed IPP supplying electricity to BPDB and rural consumers under PPAs. Comparable as a publicly listed Bangladesh IPP with similar revenue model and regulatory exposure to SPCL.
• Doreen Power Generations and Systems Limited: Bangladesh-listed IPP operating multiple gas and HFO plants selling to BPDB under long-term PPAs. Highly comparable peer in scale, technology mix, and off-take structure to SPCL.
• Khulna Power Company Limited: Bangladesh-listed IPP operating gas/HFO plants under PPA with BPDB. Closely comparable business model and customer concentration as SPCL, useful for tariff and capacity-utilization benchmarking.
• Meghnaghat Power Company Limited: Bangladesh gas-fired IPP with BPDB PPA, comparable in fuel and contractual structure to SPCL. Useful benchmark for plant performance, dispatch, and PPA-renewal outcomes in Bangladesh.

Others

• Bangladesh Power Development Board (BPDB): Sole offtaker for SPCL's output and the contracting counterparty under its PPA. Included as a contextual peer — not a competitor, but the customer/regulator whose policy and procurement decisions directly drive SPCL's economics.

Regional players

• Rahimafrooz Renewable (RRPL) / Rahimafrooz Energy: Bangladesh energy company engaged in power generation and distribution. Comparable as a regional incumbent in the same regulatory and fuel-supply environment as SPCL, though more diversified across renewable and downstream activities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/youthbd-cckl

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

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 Shahjibazar Power Co