Baraka Power Limited is a joint collaboration of a group of local and Non Resident Bangladeshi (NRB) entrepreneurs. Baraka Power is the only private sector power generating company developed by a group of NRB sponsors. The company was incorporated in Bangladesh on 26 June 2007 as a Private Limited Company. On 25 September 2008, the Company was converted into Public Limited Company under the Companies Act, 1994. On January 12, 2015 the company was renamed from its former name“Barakatullah Electro Dynamics Limited” to presently named“Baraka Power Limited”.
Baraka Power Limited took part in tender initiated by Bangladesh Power Development Board (BPDB) and wonthe bid for implement, generate & supply electricity from a 51MW power plant at Fenchuganj, Sylhet for a period of 15 years on Build, Own & Operate (BOO) basis. Baraka Power signed agreement for supplying power to the Bangladesh Power Development Board on 28 April 2008. The 51MW Power plant at Fenchuganj, Sylhet has commissioned successfully on 10 October 2009 and started commercial operation on 24 October 2009.
The company became listed with both Dhaka Stock Exchange Limited and Chittagong Stock Exchange Limited on 16 May 2011 and trading of its shares in the bourses started on 19 May 2011.
In the year 2011, Baraka Power Limited was awarded another 50 MW IPP HFO based power plant at Patenga under the open tendering method. Accordingly, Baraka Power Limited formed a subsidiary company namely Baraka Patenga Power Limited (BPPL) to design, finance, insure, construct, own, commission, operate and maintain a 50 MW, HFO-fired power generating facility at South Patenga, Chittagong for a term of 15 years. The BPPL plant started commercial operation on May 04, 2014 and since then the company is continuously supplying electricity to the National Grid uninterruptedly.