(FE)
Bangladesh has signed an agreement to buy 718 megawatt of electricity from Reliance Power over the next 22 years, the company said on Sunday. Reliance plans to invest about $1 billion to set up a local plant by 2022 to provide the electricity. The plant will be built at Meghnaghat in Narayanganj, over 20 km (12.4 miles) southeast of the capital Dhaka, according to a project report. The combined-cycle power plant will be fuelled by gas and regasification LNG and be fully owned by Reliance.
Bangladesh agreed a deal with China last week to build renewable energy projects providing 500 MW by 2023 at an investment cost of $400 million, in the latest sign of Beijing’s growing role in the South Asian nation’s energy sector. Bangladesh’s installed power capacity is more than 20,000 MW and the country aims to provide electricity to all of its more than 160 million people by 2020.
