Beringia Energy BD Power Ltd inked an engineering, procurement and construction (EPC) contract with India's Magnus Power to implement its two 108-megawatt (MW) furnace oil-fired power plant projects.
It has also inked recently a separate agreement with Germany's MAN Energy Solutions SE for the purchase of engines to run the power plants.
Beringia Energy BD Power Ltd is a subsidiary of Dhaka North and Dhaka West power plant projects.
It acquired two 108 MW capacity under-construction furnace oil-fired power plants from Maisha Group, founded by late Awami League MP Md Aslamul Hoque.
Maisha Group had inked power purchase agreements (PPA) with state-run Bangladesh Power Development Board (BPDB) on October 12, 2011 to set up these within 12 months and initiate commercial operation by October 11, 2012 but failed.
The group won both these power plant projects on an unsolicited basis without participating in any tendering process to implement these power plant projects at Basila of Keraniganj in Dhaka.
Both the power plants are expected to come online in next one year - one by December 2023 and another by February 2024.
An implementation agreement was also inked with the Ministry of Power, Energy, and Mineral Resources to implement the furnace oil-fired power plant projects under Build, Own, and Operate (BOO) basis as an Independent Power Producer (IPP).
Senior management team of MAN Energy Solutions SE and Magnus Power were present during the signing ceremony with Beringia Energy Directors.
