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Japanese JV to join power generation project in Bangladesh

  • September 3, 2019
  • , Kyodo News , 7:29 p.m.
  • English Press

TOKYO — A joint venture between a Tokyo Electric Power Company Holdings Inc. unit and Chubu Electric Power Co. said Tuesday it has entered into an agreement to join a new gas-fired thermal power generation project in Bangladesh.

 

JERA Co., equally owned by the two Japanese power providers, will acquire a 49 percent interest in a project to build and operate a 750-megawatt natural gas combined-cycle power station in Meghnaghat, some 40 kilometers southeast of Dhaka.

 

Reliance Power Ltd., India’s leading private-sector power generation company, will hold the remaining 51 percent, with commercial operations at the plant slated to begin in 2022.

 

It is the first time a Japanese company has participated in a power generation project in Bangladesh, where demand for electricity is expected to rise amid the country’s steady economic growth, the company said.

 

JERA hopes the project will lead to further business opportunities as it looks for ways to enhance its revenue basis.

 

According to Bangladesh’s Ministry of Power, Energy and Mineral Resources, the government aims to increase installed power generation capacity to 24,000 megawatts by 2021 in order to make electricity available for all.

 

As of October 2018, the country’s capacity was 20,430 megawatts, according to the Bangladesh Power Development Board.

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