GE Power announced on Monday that local Unique Group selected the company to develop a 600-megawatt (MW) natural gas-based combined cycle power plant at Meghnaghat near the capital.
Unique Meghnaghat Power Limited (UMPL) will be executing the project.
The power plant will produce power equivalent to the electricity needed to supply to about 700,000 homes in the region, GE said in a press statement.
Unique Group is among the most diversified business entities in Bangladesh, having successful ventures in hospitality, real estate, manpower management and infrastructure sectors.
The order value is approximately $350 million as per the contract, it said.
GE will be developing the project on a turnkey basis which includes one 9HA.01 gas turbine, one heat recovery steam generator (HRSG), one steam turbine generator, condensers and associated systems.
The power plant is expected to go into commercial operation by 2021, the statement said.
"The Meghnaghat power plant project marks Unique Group's foray into the power sector of Bangladesh. We are excited to partner with GE, whose technological expertise and global experience in managing large-scale power projects helped our teams to understand the stringent project proposal parameters and configuration selection," Unique Group managing director Mohd Noor Ali was quoted as saying in the statement.
He added: "The power plant will be built close to the growth centres in Bangladesh, supplying reliable power to the grid and contributing towards the development of infrastructures in Bangladesh."
GE's 9HA.01 gas turbine is the world's most efficient and largest heavy-duty gas turbine, the statement said.
Globally, GE's HA gas turbines are pushing the boundaries when it comes to the most efficient conversion of fuel into electricity.
These gas turbines are recognised for powering the world's most efficient power plants in both 50hz and 60hz energy segments - achieving 62.22 per cent combined cycle net efficiency and 63.08 per cent combined cycle gross efficiency respectively.
GE's HA gas turbines, owing to their innovative modular design, additive manufacturing and combustion technology breakthroughs, are enabling the power plant owners to experience reduced plant capital cost, space requirement and schedule needs during installation.
In addition, Bangladesh is making significant investments to enhance its LNG-based electricity generation and projects like the Meghnaghat power plant mark a significant milestone for GE to position it's HA technology for high capacity gas-based power plants in Bangladesh, the statement added.
"GE is a long-standing partner of Bangladesh, contributing towards the growth of its power sector. The country is strategically transforming its energy mix and adopting new technologies to meet the on-ground challenges such as increasing power demand," Deepesh Nanda, GE South Asia's CEO, Gas Power Systems, was quoted as saying.
He added: "We are confident that GE's HA gas turbines will be a significant value addition to the power ecosystem in Bangladesh, enabling people to have easy access to affordable, flexible, and cleaner electricity."
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