Bangladesh firm Summit Power is to build two power plants to generate a total 676 MW in a joint venture with GE.
Summit posted the lowest bids in a Bangladesh government tender to build the two plants: the Bibiyana Phase-2 341 MW combined-cycle gas fired plant and Meghnaghat 335 MW dual fuel plant. The Summit-GE joint venture had previously won a bid to build the first phase of the Bibiyana 341 MW gas fired power project.
“We will invest $1bn to produce a total of 1017 MW,” said Muhammad Aziz Khan, chairman of Summit Group of companies. Bangladesh plans to generate a total of 9000 MW of electricity a day by 2015 to tackle crippling power shortages in the delta nation.
The impoverished country faces a daily shortfall of 2000 MW of electricity and more than 300m cubic feet of gas, resulting in frequent power cuts and economic losses estimated at nearly $1bn a year.