Beximco plans to set up solar power plant in Gaibandha - Share market analysis of dhaka stock exchange, Bangladesh

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04 August, 2016 11:18 AM Source: The Daily Star Bangladesh

Beximco Power Co Ltd along with a Chinese company is set to build a 200-megawatt solar power plant in Gaibandha, in line with the government's plan to generate 10 percent of power from renewable sources by 2020.

The development comes after the cabinet committee on public purchase yesterday approved the proposal from the power ministry for Beximco Power and TBEA Xinjiang Sunoasis to build, own and operate the power plant.

The government will buy solar power at Tk 12 per unit from the plant for 20 years. For that, it will have to pay an estimated amount of Tk 7,778 crore.

Beximco Power and Xinjiang Sunoasis will bear the costs, including for the land, setting up of sub-station and 35-kilometre transmission line, according to the power ministry's proposal.

Between October 2015 and April 2016, the government has given approval to five companies aiming to generate 332 megawatts of solar power.

The government will pay the plants Tk 11.12 to Tk 13.6 for per unit of power.

Of the five plants, the largest will be located in Teknaf in Cox's Bazar by SunEdison Energy Holding (Singapore), of 200 MW.

The government will purchase power from this company at Tk 13.69 per unit.

The cabinet committee also gave the nod to another proposal for setting up a 5MW peak solar energy at Goainghat in Sylhet.

The plant will be set up by Japan's Eiki Shoji Co Ltd and Sun Solar Power. The government will purchase power from the company at a rate of Tk 11.12 per unit for 20 years.

Besides, the purchase committee also awarded the consortium of Harbin Electric International Company and Jiangsu Etern Company of China the licence to set up a power plant at Khulna with the generation capacity of 200MW to 300MW.

The government will pay the consortium Tk 2,370 crore. The purchase committee extended the tenure of Aggreko International Projects Ltd by another three years.

The company has set up an 85MW gas-based power plant in Brahmanbaria, whose tenure expired in April.

During the extended period, the government will buy power from the company at a rate of Tk 3.13 per kWh, which was Tk 3.27 previously.

At yesterday's purchase committee meeting, a record 27 proposals were approved, 20 of which were from the power sector.

The committee also gave the green light to expansion of electricity lines by Rural Electrification Board in parts of the country, including setting up 6.54 lakh power poles at a cost of Tk 1,496 crore.

It also approved a proposal for appointment of a consulting firm for an elaborate feasibility study for Bangabandhu Sheikh Mujib International Airport.

Japan's Nippon Koei Co Ltd has been selected for the work at a cost of around Tk 120 crore.

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