Indian company sign deal with PDB to set up 217 MW IPP plant in Bhola
Friday, 14 September 2012
An Indian private company, Lanco Infratech, Thursday signed a contract with state-owned Power Development Board (PDB) to set up a gas-fired 217.9 MW combined cycle power plant in Bhola on build-own-operate (BOO) basis, reports UNB.
As per the deal, the PDB will purchase electricity from the independent power producer (IPP) plant at 2.7582 US Cents per kilowatt hour (each unit) for next 22 years with 84.6 per cent plant factor. The tariff is equivalent to about Tk 2.26 per unit at the current US dollar price.
Lanco, with its local associate partner Cosmos Energy, will install the 143.2 MW simple cycle unit of the plant within next 20 months and the combined cycle unit in next 26 months from the date of contract signing through its new entity Bhola Electricity (Pvt) Ltd.
The total investment of the company for the project will be US$ 182.6 million.
Lanco, presently producing about 4,000 MW of electricity from its different plants across India, won the project through an open bidding process. Lenders from Singapore will finance the project.
Lanco Power's Chief Operating Officer Nauman Ahmad and PDB Secretary Azizul Islam signed the contract on behalf of their respective sides.
Prime Minister's Advisor Dr. Tawfiq-e-Elahi Chowdhury, Power Secretary Abul Kalam Azad, Indian Deputy High Commissioner Sandeep Chakravorty, Singapore's Consul in Dhaka Darryl Lau and PDB Chairman Abdul Wahab spoke at the contract signing function at Bidyut Bhaban in the city.
Addressing the function, Tawfiq-e-Elahi Chowdhury said the government has long been trying to implement the Bhola IPP project as gas is available there. But this time, he hoped, the project will be implemented.
He said still there is power evacuation problem in Bhola, but the government will take necessary measures to address the problem.
The Indian Deputy High Commissioner said that through this project, a milestone has been set in Bangladesh-India power sector cooperation.
As per the deal, the PDB will purchase electricity from the independent power producer (IPP) plant at 2.7582 US Cents per kilowatt hour (each unit) for next 22 years with 84.6 per cent plant factor. The tariff is equivalent to about Tk 2.26 per unit at the current US dollar price.
Lanco, with its local associate partner Cosmos Energy, will install the 143.2 MW simple cycle unit of the plant within next 20 months and the combined cycle unit in next 26 months from the date of contract signing through its new entity Bhola Electricity (Pvt) Ltd.
The total investment of the company for the project will be US$ 182.6 million.
Lanco, presently producing about 4,000 MW of electricity from its different plants across India, won the project through an open bidding process. Lenders from Singapore will finance the project.
Lanco Power's Chief Operating Officer Nauman Ahmad and PDB Secretary Azizul Islam signed the contract on behalf of their respective sides.
Prime Minister's Advisor Dr. Tawfiq-e-Elahi Chowdhury, Power Secretary Abul Kalam Azad, Indian Deputy High Commissioner Sandeep Chakravorty, Singapore's Consul in Dhaka Darryl Lau and PDB Chairman Abdul Wahab spoke at the contract signing function at Bidyut Bhaban in the city.
Addressing the function, Tawfiq-e-Elahi Chowdhury said the government has long been trying to implement the Bhola IPP project as gas is available there. But this time, he hoped, the project will be implemented.
He said still there is power evacuation problem in Bhola, but the government will take necessary measures to address the problem.
The Indian Deputy High Commissioner said that through this project, a milestone has been set in Bangladesh-India power sector cooperation.