The government considers US-based multinational power giant General Electric’s proposal for setting up 3000MW-3600MW LNG-based power plant at Moheskhali in Cox’s Bazar, an official said.
The GE proposed to build a series of power plants having combined capacity to generate 17,800MW of electricity in Bangladesh. It has given the proposals to different state-owned companies, including CPGCL, EGCB, NWPGCL, APSCL, EGCB, RPCL and BPDB.
“We will hold an inter-ministerial meeting at the Secretariat on Thursday in this regard,” Bangladesh Power Development Board (BPDB) chairman Khaled Mahmood told the daily sun on Wednesday.
He said the joint venture power plant will be equal sharing where 30 percent is equity and 70 percent debt.
“We will sign a memorandum of understanding to set up the power plant with BPDB if the ministry will allow us in this regard,” he said.
He said both parties have already exchanged draft MoU in this regard.
On April 2 in 2018, Joseph Anis, vice-president of Africa, India and Middle East of GE company, requested the power division secretary to sign MoU with BPDB as early as possible.
The government has already received huge response on Liquefied Natural Gas (LNG) based power projects. At least 18 proposals from different local and multinational companies have so far been received for producing 44,860MW of electricity.
The BPDB are evaluating 11 proposals while seven proposals are pending.
Of the proposals, German-based Siemens Bangladesh Ltd proposed to set up 8000MW plants while US GE proposed 17,800MW plants with state-owned CPGCL, EGCB, NWPGCL, APSCL, EGCB, RPCL and BPDB.
UK-based Ahmed Dalmook Al Maktoum suggested installing 1000MW while Japanese Mitsui and Co Ltd 600MW at Matarbari, Indian Reliance 1500MW at Meghnaghat, China Petroleum Pipeline Engineering Company Ltd 3200MW at Moheskhali, Siemens Germany 3600MW at Patuakhali, Chinese National Import and Export Corporation 1800MW, Indonesian Pertamina’s 1400MW and Sembcrops 1500MW.
Local Consortium of Midland Power, Shahjibazar Power proposed to set up 600MW plant at Banchkhali while Beximco 460MW plant, United Enterprise 500MW plant, Unique 1200MW and Golar Power Ltd 1500MW LNG-based plants.
US-based GE has also proposed setting up of a fast-track 3000MW-4000MW LNG power plant along with LNG import terminal at Matarbari in Cox’s Bazar.
As part of the proposal, Deepesh Nanda, chief executive officer (CEO) of GE South Asia, showed interest in signing a memorandum of understanding (MoU) to implement the power project.
US Ambassador Marcia S Bernicat recently met State Minister for Power and Energy Nasrul Hamid to discuss the progress in power and energy projects with US investments as well as the proposal forwarded by GE.
“GE is interested in investing in LNG, gas turbine, heat recovery steam generator to generate electricity at Matarbari, Patuakhali, Chittagong and Ashuganj in Bangladesh,” the US envoy said.
Nasrul Hamid informed the US envoy that Bangladesh fetches $3.5 billion in power sector investments a year, but the investment from US companies is insignificant in this sector.