Korean co keen to set up 5000MW power plant

Special Correspondent

19 May, 2019 12:00 AM printer

A South Korean power company has recently shown its interest in setting up a number of power plants in Bangladesh having a capacity to generate about 5000MW of electricity.

They will produce the electricity using gravitational force. “The generation of electricity though gravity will be the cleanest and greenest electricity with a constant quality”, said Anthony Lee, CEO of the Gravity Electric Korea in his project proposal.

The Korean company Gravity Power Plant has recently shown the expression of interest (EoI) for setting up the power plants with 100 percent project implementation funding, said officials concerned.

 “We can build the first 500MW power plant within 16 months after singing the power purchase agreement and the consecutive 500MW power plants will be set up within every six months,” he said.

The 1000MW gravity plant will be installed on 30 acres of land, he said.

According to Gravity, they will use the least acres of land as a 1000MW nuclear power plant requires approximately 830 acres of land while a solar power requires 34 to 57 times more land than nuclear and  wind require 200 to 276 times more.

Gravity power plant is a power plant that produces clean, renewable energy using gravitational force and usually does not require any external energy sources.

To make the project a reality, the company has recently urged the government for the necessary land, tax free benefit to import construction parts and payment guarantee and power purchase agreement.