EBL Securities PLC. - UNITED POWER GENERATION DIST CO (UPGDCL) Equity note on United Power Generation Distribution Company Ltd. (UPGDCL)

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EBL Securities PLC.

Rayhan Ahmed

Equity note on United Power Generation & Distribution Company Ltd. (UPGDCL)

United Power Generation & Distribution Company Ltd. (UPGDCL), a concern of United Group, generates and sells electricity to BEPZA (DEPZ & CEPZ), BPDB, BREB, and private customers. The company operates eight power plants across the country with a total capacity of 895 MW and maintains long-term Power Purchase Agreements (PPAs) with its clients. UPGDCL started its journey as a commercial IPP (Independent Power Producer) serving Export Processing Zones (DEPZ and CEPZ), later expanding sales to BPDB, BREB, and private-sector entities. At present, the company operates eight power plants with a total electricity generation capacity of 895 MW. It has a 30-year PSA (Power Supply Agreement), extendable by another 30 years, with BEPZA for DEPZ, CEPZ and KEPZ, while five of its power plants have PPAs (Power Purchase Agreements) with BPDB, each with different contractual tenures.

26/08/2025 8 EN

Underlying

UNITED POWER GENERATION & DIST CO

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BD0318UPGDC4 Dhaka Stock Exchange Bangladesh

Provider

EBL Securities PLC.

EBL Securities PLC. (EBLSL) is one of the fastest growing full-service institutional brokerage companies in Bangladesh. On top of our expertise and achievements, we take pride in our strong commitment towards excellent client services and development of the Bangladesh capital markets.

EBLSL is a fully owned subsidiary of Eastern Bank PLC.(EBL), one of the leading private commercial banks of Bangladesh. EBLSL is one of the TOP-10 brokerage companies of Bangladesh.

We have unwavering faith in the potential of Bangladesh. We also believe that an efficient, vibrant and transparent capital market can strongly contribute to the overall development of Bangladesh. Bangladesh is currently at the initial stage of capital market growth, and we are committed to assist the entry of early movers into a growth-oriented, vibrant, nascent emerging market.

EBLSL has developed a disciplined approach towards providing capital market services. The foundation for our business is a strong commitment towards market experience & professionalism, investment knowledge, market intelligence and research services.

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Analysts

Rayhan Ahmed

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Equity note on United Power Generation & Distribution Company Ltd. (UPGDCL)

Investment Opportunities in Bangladesh Power Sector 2021

Equity Note on Eastern Housing Limited (EHL)

Equity Note on Bangladesh Shipping Corporation (BSC)

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