Bangladesh Power Development Board (BPDB) will sign power purchase agreement (PPA) with Indian company Lanco Infratech Ltd in June to set up a 367MW combined-cycle IPP mode power project in Sirajganj. It will also sign Land Lease Agreement (LLA) and Implementation Agreement (IA) with the Indian company on the same day, an official said.
The Bangladesh Petroleum Corporation (BPC) and the Pachimanchal Gas Distribution Company Ltd will also sign Fuel Supply Agreement (FSA) and Gas Supply Agreement (GSA) on the day.
“We are hopeful to pay $13.22 million performance security deposit (PSD) late of this month on signing 367MW Sirajganj power project deal,” Project Director Nazmul Ahsan told daily sun on Tuesday. He said the project would be one of the best gas-fired efficient one in the country with efficiency level of 57 percent.
The Indian company delayed to sign the deal due to it’s financial crisis during the outgoing Congress government period, he said, adding, the company recently got approval of $800 million that has geared up it’s overseas projects.
The company had to shut five of its power projects during last couple of years having capacity to generate 2000MW of electricity due to fund crunch, he said.
The company has already installed plants with capacity of generating 4000MW electricity while it is implementing projects for producing another 6000MW of electricity.
On March 28, 2013, Lanco signed an initial with Bangladesh for power and gas purchase agreement for the proposed 367MW Sirajganj dual-fuel power plant. The simple cycle of the plant was scheduled to start commercial operation within 24 months after signing the deal while the combined-cycle one in 30 months.
The sharing of the power project would be 29 percent by North West Zone Power Distribution Company. The cabinet purchase committee on August, 2012 approved the Indian sponsor’s offer to implement the 300-450MW Sirajganj dual-fuel power plant project as an independent power producer (IPP).