Bangladesh Power Development Board (BPDB) signed power purchase agreement (PPA) with Summit Meghnaghat II Power Company Limited (SMIIPCL) to implement 583MW of power plant for 22 years.
Prime Minister’s power adviser Dr Tawfiq-e-Elahi Chowdhury attended a signing ceremony as chief guest while US ambassador to Bangladesh Earl R. Miller, senior power division secretary Dr Ahmad Kaikaus, energy and mineral division secretary Abu Hena Md Rahmatul Muneem, Petrobangla chairman Ruhul Amin, BPDB chairman Khaled Mahmood and Chairman of Gas Power, GE John Rice, were present as special guests at Bidyut Bhaban in the capital on Thursday.The SMIIPCL, a subsidiary of Summit Group, will supply the electricity at a rate of Tk 2.176 per kilowatt hour (kWh) for 22 years.
Summit also signed Land Lease Agreement (LLA) with BPDB, Gas Supply Agreement (GSA) with Titas Gas Transmission and Distribution Co Ltd (Titas), Fuel Supply Agreement (FSA) with the Bangladesh Petroleum Corporation (BPC) and Implementation Agreement (IA) with Power Grid Company of Bangladesh (PGCB) and the Government of Bangladesh.
The Summit and GE Power, an American energy techniques company, owned by General Electric, had formed a consortium to set-up the SMIIPCL under special power and energy supply act.
The 583MW combined cycle power plant (CCPP) at Meghnaghat, is expected to be operational by March 2022.
When commissioned in 2022, SMIIPCL is expected to be the largest combined cycle power plant (CCPP) in Bangladesh, generating the equivalent electricity needed to supply up to 700,000 homes in Bangladesh.
As per Summit’s commitment to bring advanced technology to Bangladesh’s power sector it has chosen the world’s largest and most efficient heavy-duty gas turbine GE’s 9HA fleet to equip SMIIPCL with an efficiency of 63 percent at ISO condition.The Summit awarded GE the EPC contract on turnkey basis as well as the maintenance and repair services for key power generation equipment at USD$390 million.
Dr Tawfiq-e-Elahi Chowdhury said Bangladesh is making unusual journey under the leadership by Prime Minister Sheikh Hasina.
He said 10 years ago Bangladesh was under darkness as per the World Bank report.
“Now, we are a success story on electricity generation in South Asia with the efficiency of our talented engineers,” he said.
He said the Summit Group is one of the great success stories in power sector here.
US ambassador to Bangladesh Earl R. Miller said Bangladesh will achieve middle income one with the support of US company GE.
He informed 95 percent workforce of US companies here are Bangladeshi.
Dr Ahmad Kaikaus said this is a matter of pride of us to sign a PPA for large power plant with local company.
He said Prime Minister initiated the journey to grow up private sector through formulation of private sector power generation policy in 1996.
John Rice said I come to celebrate the signing of 583MW Meghnaghat II Power Company Limited here.
It’s a result of long standing commitment and transformation between Summit and GE, he said. He added Bangladesh will greatly benefit through GE support.