A Chinese-Bangladeshi consortium will sign an agreement today (Sunday) with Bangladesh Power Development Board (BPDB) to set up a 55MW wind power plant on a build-own-operate basis at Mongla in Bagerhat, reports UNB.
As per the proposed deal, state-owned BPDB will purchase electricity from the independent power producer (IPP) plant for over the period of 20 years.
Earlier, in December 2020, the Cabinet Committee on Government Purchase approved the proposal of a Chinese-Bangladeshi consortium to set up the power plant on build-own-operate basis .
As per the proposal of the Consortium of Envision Energy, (Jiangsu) Co. Ltd., China, SQ Trading and Engineering, Bangladesh and Envision Renewable Energy Limited, Hong Kong will develop the plant under a new special project vehicle (SPV) company Mongla Green Power Ltd.
The project cost is expected to be around $96.597m.
State-owned BPDB will purchase electricity from the plant at a levelized tariff of 13.20 Cents, equivalent to Tk13 per kilowatt hour (each unit).
According to BPDB officials, the government will pay a total of more than Tk2035.12 crore for the entire contract period against its purchase of electricity from the maiden private wind power project.