North-West Power Generation Company (NWPGCL), a power generation company in Bangladesh, has inked a memorandum of understanding (MoU) with German firm Siemens to construct a 3.6GW power plant in Bangladesh’s Patuakhali district.
The Liquefied Natural Gas (LNG)-fired plant will be built on 100 acres of land adjacent to Payra 1.3GW Thermal Power Plant site. The project will entail an investment of $2.8bn, which includes $2.4bn in debt and remaining $400 in equity.
The new facility will feature three units, with each unit capable of generating 1.2GW of electricity. The first unit of the plant is expected to be operational in June 2020, the second unit in December 2020 and the third unit in December 2021.
The project will be carried out in three phases by setting up a joint venture company. In order to ensure the uninterrupted natural gas availability for the plant, an LNG terminal will be built at the project site.