Summit Power Ltd 2023 AR2
The report details Summit Power Limited's operations and financial performance for the fiscal year 2022-23, highlighting its position as the leading Independent Power Producer in Bangladesh with an installed capacity of 976 MW. During the year, the company faced significant financial challenges due to delayed payments from the Bangladesh Power Development Board, resulting in a steep 74.5% reduction in consolidated net profit to BDT 1,715 million. Despite these challenges, the company successfully signed the first amendment to the Power Purchase Agreements for three power plants on a "No Electricity, No Payment" basis. Additionally, the company advanced its sustainability initiatives, including the inauguration of the Friendship-Summit Solar Village, a 54 kW solar mini-grid providing clean energy to a remote char community.
Company: Summit Power Ltd
Sector: Energy utilities
Country: Bangladesh
Year: 2023
Type: AR2
Pages: 278
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Summit Power Ltd
Annual Report
The report details Summit Power Limited's operations and financial performance for the fiscal year 2022-23, highlighting its position as the leading Independent Power Producer in Bangladesh with an installed capacity of 976 MW. During the year, the company faced significant financial challenges due to delayed payments from the Bangladesh Power Development Board, resulting in a steep 74.5% reduction in consolidated net profit to BDT 1,715 million. Despite these challenges, the company successfully signed the first amendment to the Power Purchase Agreements for three power plants on a "No Electricity, No Payment" basis. Additionally, the company advanced its sustainability initiatives, including the inauguration of the Friendship-Summit Solar Village, a 54 kW solar mini-grid providing clean energy to a remote char community.
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Document Details
Report Year
2023
Reporting Period
Jul 1, 2022 - Jun 30, 2023
Fiscal Year
2023
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Materiality Assessment
Assurance
Assurance Provider
Assurance Standard
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Water Consumption
Workplace Fatalities
Employees