Here at United Group’s Power Division, our focus has always been on proactively delivering pioneering solutions for Bangladesh, leveraging our position as the largest Bangladeshi power sector developer in the country.
Our journey began in 1997, starting with the first Independent Power Producer project, setting up the industry for private sector investors. Since then, we have been omnipresent in Bangladesh’s power sector, with a development portfolio of 2,137 Megawatts through 17 power plants.
We kept on delivering exemplary projects on time, with multiple first-of-its-kind power plants in Bangladesh. Our legacy includes setting up the first commercial power plant (energizing critical export processing industries in Savar and Chattogram), the first public private partnership power plant and establishing strategically important power plants in Jamalpur (from which the entire greater Mymensingh region is powered), amongst many more.
On the way, our efforts received global and local recognition from key stakeholders, while being financed by the likes of the World Bank, International Finance Corporation (IFC), Standard Chartered Bank, HSBC, Finnvera, etc. For example, “United Power” has the largest market capitalization (for Fuel & Power Category) in Dhaka Stock Exchange, another instance of the confidence entrusted onto us.
What sets us apart is our locally developed, in-house competencies. We have a power plant Engineering, Procurement & Construction company, and another power plant Operation & Maintenance company as direct subsidiaries – both the largest in Bangladesh in their respective categories. In addition, we have end-to-end Fuel Import, Supply & Logistics value chain through an in-house trading arm, multiple jetties & fuel oil tank terminals, along with own ocean-going & lighterage vessels and truck fleet.
Generating electricity reliably and doing it sustainably remains a key challenge for the power sector. United Group’s Power Division have always been at the forefront of taking challenges. At the country’s time of need, we implemented full scale power plants in 4-6 months at the remotest locations, introduced concepts like modular combined cycle technology and implemented combined power & steam generation for use by downstream businesses – all a part of our drive towards energy efficiency.
Looking ahead, we shall continue developing power generation solutions that the country needs, projects that are techno-commercially sound and benefit all stakeholders. Our current efforts are focused on high efficiency base load combined cycle power plants.
For the future, we are keenly looking into the renewables sector (solar and hydropower) and see ourselves growing organically with Bangladesh’s need for electricity growing with the graduation to Middle Income Country status. In parallel, our two-decade old mandate of developing and utilizing Bangladeshi human capital is set to go on.
Under the umbrella of United Group, we will continue to unite dreams for a better tomorrow.