GE, Summit Ink Bangladesh Power Plant Deal
A consortium of Bangladeshi Summit (80%) and US GE (20%) signed final agreements with government entities March 14 to build a 583-MW dual fuel combined-cycle power plant at Meghnaghat, 20 km from the capital Dhaka.
The consortium, Summit Meghnaghat II Power Co, will run the plant on gas or diesel. The gas will be sold by state-run Titas Gas Transmission and Distribution Co and the diesel by Bangladesh Petroleum Corp.
State-run Bangladesh Power Development Board will buy the output for 22 years, starting most likely within three years.
GE, the engineering, procurement and construction contractor, expects it to cost $390mn. Its GE 9JA turbines have an efficiency of 63%.
The government selected the consortium to build the power plant under the ‘Speedy Supply of Power and Energy (Special Provision) Act 2010’ which bypasses the tendering process.