As part of the agreement, ACWA Power will target the development of 3,600MW gas fired independent power plants representing a total investment amount of about $2.5 billion, that will help meet the country’s growing power demand.
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The plant is likely to be located in Maheshkhali, upon completion of the feasibility study.
“Aramco will indeed supply the LNG. The source of LNG is Aramco. In addition, they will build the LNG terminal to store the LNG,” said Salman Fazlur Rahman, investment adviser to Bangladeshi Prime Minister Sheikh Hasina.
“ACWA will build the power station to convert LNG to power.”
The deal signed is ACWA Power’s largest gas-to-power development and its initial foray into the Bangladesh power market.
Bangladesh’s power sector is one of the fastest growing in South Asia, with a current installed capacity of around 24,000MW from just 3,200MW in 2009.
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