PROJECT

Projects

Summary of Investment Information

Project Number

30542

Company Name

SUMMIT BIBIYANA II POWER COMPANY LIMITED

Date SPI Disclosed

Jan 26, 2015

Country

Bangladesh

Region

South Asia

Projected Board Date

Apr 8, 2015

Environmental Category

A - Significant

Status

Active

Last Updated Date

Nov 30, 2016

Department

Regional Industry - INF Asia & Pac

Industry

Infrastructure

Previous Events

Approved : Apr 23, 2015
Signed : Apr 30, 2015
Invested : Jul 8, 2015

Sector

Gas - Thermal Power Generation

Additional Project Attributes

Public-Private Partnerships

Project Description

The Project is a greenfield 341MW gas based combined cycle power project located at Bibiyana in the Habiganj district in Bangladesh. The Project will be implemented by Summit Bibiyana II Power Company (“SBPCL” or “the Company”), a special purpose vehicle incorporated in 2010 under the laws of Bangladesh.

In 2010, Bangladesh Power Development Board (“BPDB”), Bangladesh''s main state-owned power utility, awarded the Project on a build, own and operate basis, to a consortium consisting of Summit Industrial and Mercantile Corporation Ltd. (“SIMCL”) and GE Energy LLC (“GE”), which was selected as the winning bidder through an international competitive bidding process. The Project will sell power under a 22 year Power Purchase Agreement (“PPA”) to BPDB.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation