Dhaka, Bangladesh
Europeans interested to invest in power sector: Nasrul Hamid

Europeans interested to invest in power sector: Nasrul Hamid

State Minister for Power and Energy Nasrul Hamid has said that many European companies are now eagerly showing their interest to invest in the power sector of the country, reports UNB. ďAfter investment by Chinese, Japanese, Indian and other Asian countries in power sector, now companies from Germany, Sweden and many European countries are exploring their investment opportunities,Ē he said while speaking at the contract signing ceremony for a 220 MW dual-fuel combined cycle power plant to be set up at Bhola by an Indian company. The state-owned Power Development Board (PDB) signed the power purchase contract (PPC) with leading Indian company Shapoorji Pallonji, said to be one of Indiaís most valuable private enterprises. The Shapoorji Pallonji Groupís promoters are also the largest individual shareholders in Tata Sons, the holding company of the Tata Group. The Shapoorji Pallonji will set up the plant with its newly formed subsidiary company -Nutun Biduyt (Bangladesh) Ltd-at Borhanuddin island of Bhola district within next 28 months and start commercial operation by December 2019. The PDB will buy electricity from the plant for next 22 years at tariff of 3.9830 US Cents per kilowatt hour at gas-fired period (equivalent to Tk 3.1864 per unit) and 16.9621 US Cents (equivalent to Tk 13.57 per unit) when the plant will run by diesel at 212 MW capacity. Welcoming the deal with Shapoorji Pallonji, Nasrul Hamid noted it is the first Indian company which has moved to set up a power plant here with hundred percent private investment. Urging the Indian company to complete its project before the next general election, he said the government has a plan to increase power generation by 2000 MW each year. He said the government has not been able to create a situation in power generation where the country does not have any shortage. ďStill we have huge shortage. So, there is huge opportunity to invest in Bangladesh power sector. We have successfully created an enabling environment for investment,Ē he said. Power secretary Dr. Ahmad Kaikaus, PDB chairman Khaled Mahmood, Petrobangla chairman Abul Mansur Mohammad Faizullah and Shapoorji Pallonji managing director Mukindan Sri Nibashan also addressed the function.

Share |