Adhering to their commitment to provide reliable and affordable electricity in Bangladesh, Summit and GE Power announced they will proceed with the co-development of Summit Meghnaghat II, a 583- MW combined cycle gas power plant at Meghnaghat, near Dhaka, Bangladesh. The announcement follows the signing of a 22-year Power Purchase Agreement (PPA) between Summit Meghnaghat II Power Company Limited (SMIIPCL), a subsidiary of Summit Group, and the Bangladesh Power Development Board (BPDB). SMIIPCL also signed several other agreements, with the Government of Bangladesh, Power Grid Company of Bangladesh (PGCB), Bangladesh Petroleum Corporation (BPC) and Titas Gas Transmission and Distribution Company Limited. The power plant is expected to be operational by 2022 and will generate the equivalent electricity needed to supply up to 700,000 homes in Bangladesh. Summit and GE Power signed the equipment and engineering, procurement, and construction (EPC) scope of the project in 2017, while the services agreement was signed in 2018. Together, the two agreements are worth approximately $390 million.
“The phenomenal growth of Bangladesh in the last decade has established Bangladesh as a role model. Summit is proud to have played a role in it.
