Beringia Energy Global BD Ltd, a sister concern of US’s Beringa Energy, has acquired two 108 megawatt (MW) capacity under construction furnace oil-fired power plants from Maisha Group, founded by late ruling Awami League lawmaker Md Aslamul Hoque.

We have acquired the power plants aiming to bring them on track within the next one year,” said a company official.

All necessary agreements with the Maisha Group over the purchase of these two furnace oil-fired power plants – Dhaka North Power Utility Co Ltd and Dhaka West Power Ltd – having the total generation capacity of 216 MW, have already been inked, he said.

Maisha Group inked power purchase agreements (PPA) with the state-run Bangladesh Power Development Board (BPDB) on October 12, 2011, in order to set up these within 12 months and initiate commercial operations by October 11, 2012.

Subsequently, an implementation agreement was also inked with the Ministry of Power, Energy and Mineral Resources to implement the high sulfur fuel oil (HSFO)-fired power plant projects under the Build, Own, and Operate (BOO) basis as Independent Power Producer (IPP). The group won both the power plant projects on an unsolicited basis without participating in any tendering process.