IDCOL is the largest local financier in the power sector of Bangladesh and has financed BDT 1.5 billion for installation of more than 1500 MW of power plants. Following are the major projects financed/approved by IDCOL:
305~335 MW Dual Fuel (HFO/Gas) Power Plant of Summit Meghnaghat Power Company Limited
Project: 305~335 MW Dual Fuel (HFO/Gas) Power Plant
Borrower: Summit Meghnaghat Power Company Limited (SMPCL)
Location: Meghnaghat, Narayangonj
Sponsor: Summit Industrial and Mercantile Corporation Ltd.
COD: August 2014 (Expected) for combined cycle
IDCOL Loan: USD 30 million
Project Description: Under a 22-year Power Purchase Agreement signed with Bangladesh Power Development Board (BPDB), SMPCL will build, own and operate a 305~335 MW dual fuel (Gas / HSD) combined cycle power plant to generate and supply electricity to BPDB. The EPC contractor for the project is Consortium of First Northeast Electric Power Company Ltd. (NEPC) and China National Electric Engineering Co. Ltd. (CNEEC), while GE Energy, France is the major equipment supplier. IDCOL along with DEG, FMO, other Development Financial Institutions and SCB, London have approved USD 190 million debt facility for the project.
108 MW HFO Fired Power Plant of Energypac Confidence Power Ventures Chittagong Limited (ECPVCL)
Project: 108 MW HFO Fired Power Plant
Borrower: Energypac Confidence Power Ventures Chittagong Limited (ECPVCL)
Location: Patia, Chittagong
Sponsor: Confidence Cement Limited, Energypac Power Generation Limited and Rurelec PLC
COD: October 2014 (Expected)
IDCOL Loan: USD 30 million
Project Description: Under a 15-year Power Purchase Agreement (PPA) signed with Bangladesh Power Development Board (BPDB), ECPVCL will build, own and operate a 108 MW HFO based power plant to generate and supply electricity to BPDB. The EPC contractor of the project is Energypac Power Generation Limited (EPGL). Rolls-Royce, Norway has supplied 16 engines and Cummins Generator Technologies, Germany has supplied the generators for the project. IDCOL and IDLC Finance Ltd. have raised a total of USD 63 million debt facility for the project.
105 MW HFO Fired Power Plant of Quantum Power Systems Limited (QPSL)
Project: 105 MW HFO Fired Power Plant
Borrower: Quantum Power Systems Limited (QPSL)
Location: Noapara and Bheramara
Sponsor: Otobi Ltd., Shantou Sez Gas Turbine Power Plant Co. Ltd.,East Base Investment Ltd. andSupreme Marketing Co. Ltd.,
COD: 26 August 2011
IDCOL Loan: BDT 1000 million
Project Description: The project involved a 105MW HFO based power plant under 5-year Power Purchase Agreement (PPA) signed with Bangladesh Power Development Board (BPDB) to build, own and operate the plant to generate and supply electricity to BPDB as a Rental Power Producer (RPP). The EPC contractor of the project was Tellhow SCI-Tech Co. Ltd., China. The EPC contractor supplied 8 units of Nigata and 5 units of NKK engines.
Sponsor: AES Incorporation Inc. (Originally) / Pendekar Energy (L) Limited (Current)
COD: 26 November 2002
IDCOL Loan: USD 80 million
Project Description: The project involved a 450 MW gas turbine based combined cycle power plant under a 22-year Power Purchase Agreement (PPA) signed with Bangladesh Power Development Board (BPDB) on BOO basis. As the EPC contractors, Hyundai Heavy Industries Company Limited was responsible for supply of equipment and Hyundai Engineering and Construction Company Ltd. was responsible for installation, erection and commissioning for the power plant. IDCOL, along with ADB, provided a total debt of USD 220 million for the project.
34.5 MW Natural Gas based Captive Power Plant
Project: 34.5 MW Natural Gas based Captive Power Plant
Borrower: Malancha Holdings Limited
Location: Dhaka Export Processing Zone
Sponsor: United Group
COD: 26 December 2008
IDCOL Loan: BDT 200 million
Project Description: The project involved development and operation of a captive power plant by Malancha Holdings Limited (MHL) with generation capacity of 34.5 MW at Dhaka Export Processing Zone (DEPZ). The project supplied uninterrupted power to industries located in the EPZ area under a 30-year power supply agreement with Bangladesh Export Processing Zones Authority (BEPZA). BEPZA guaranteed to purchase the total electrical output of MHL up to the level of total requirements of DEPZ (old and extension). MHL was entitled to sell any surplus capacity to other private and/or government entities outside the EPZ area.
Project Description: BEDL was awarded a 51 MW gas based power plant at Sylhet for a period of 15 years on Build-Own-Operate (BOO) basis through a competitive bidding process. The generated electricity of the project was sold to Bangladesh Power Development Board (BPDB) being the Off-taker. The Project was successfully commissioned on 10 October 2009 and started commercial operation from 24 October 2009. BEDL is an ISO 9001:2008 certified company and the first power plant sponsored by a group of NRB investors. The Project receives gas supply from Jalalabad Gas Transmission and Distribution System Limited.
Sponsor: Sinha Group - one of the largest manufacturers and exporters of readymade garments of the country
COD: 12 July 2009
IDCOL Loan: BDT 200 million
Project Description: VERL was awarded a 34.5 MW gas based power plant at Bhola on Build-Own-Operate (BOO) basis for a term of 3 years. The generated electricity by the project was sold to Bangladesh Power Development Board (BPDB). VERL signed the Power Purchase Agreement with BPDB on 16 January 2008. The project didnt have any direct gas supply contract with any gas supply utility. BPDB was the sole guarantor for the supply of gas to VERL where gas was supplied through Shahbajpur gas field, owned by BAPEX.
Four Gas based Small Power Plants with a combined capacity of 110 MW
Project: Four Gas based Small Power Plants with a combined capacity o
Borrower: Summit Uttaranchol Power Company Limited (SUPCL) and Summit Purbanchol Power Company Limited (SPPCL)
Sponsor: Summit Industries and Mercantile Corporation (Pvt.) Limited (SIMCL) and Summit Power Limited (SPL).
COD: 15 January 2008
IDCOL Loan: BDT 600 million under the syndication facility of
Project Description: SUPCL and SPPCL built four Small Power Plants (SPPs) with a combined capacity of 110 MW on Build-Own-Operate (BOO) basis for a period of 15 years. Three of these plants had a capacity of 33 MW each and was located at Jangalia in Comilla, Rupgonj in Narayangonj and Maona in Gazipur. Another one with a capacity of 11 MW was located at Ullapara, Sirajgonj. The project agreements were signed on 11 October 2007. SPPCL operates the power plants at Jangalia and Rupgonj and SUPCL operates the power plants located at Maona and Ullapara. The power plant at Jangalia supplies electricity to Bangladesh Power Development Board (BPDB) and the rests supply to Rural Electrification Board (REB).
11.60 MW captive power plant
Project: 11.60 MW captive power plant
Borrower: Shah Cement Power Limited (SCPL)
Location: West Muktarpur, Munshigonj
Sponsor: Shah Cement Industries Limited (A Concern of AbulKhair Group)
COD: 20 August 2005
IDCOL Loan: BDT 120 million under the term loan syndication fa
Project Description: SCPL, a concern of Abul Khair Group, developed the 11.6 MW power plant for captive consumption of its sister concern, Shah Cement Industries Limited (SCIL) under a 15-years Power Purchase Agreement (PPA). The PPA, signed between SCIL and SCPL, was take-or-pay in nature and SCIL was responsible for making minimum capacity payment at all times. Two Caterpillar Gas Engine Generator sets, with mechanical power output of 6030 kW per engine, were installed in the project. Titas Gas Transmission and Distribution Company Limited was the gas supplier of the Project.
33.75 MW Summit Power Limited Expansion Project
Project: 33.75 MW Summit Power Limited Expansion Project
Borrower: Summit Power Limited (SPL)
Location: Ashulia, Savar
Sponsor: Summit Group
COD: 30 November 2006
IDCOL Loan: BDT 153 million under a syndication facility BDT 1
Project Description: The proposed project envisaged increasing the power generation capacity of the existing Gas based Savar plant of SPL to 33.75 MW from the then existing 11 MW. SPL, developed this power plant facility on Build-Own-Operate (BOO) basis, which supplies electricity to Rural Electrification Board (REB), the Off-taker of the project, under a 15 year Power Purchase Agreement. A PPA Supplemental Agreement-2 for Guaranteed Net Plant Capacity of 25 MW 10% was signed between REB and SPL on 20 March 2006. The plant is situated on an area of 2.05 acres and SPL signed a Land Lease with REB in this regard. TITAS is supplying the required amount of gas to this project under a separate contract with REB.
52.2 MW Dual Fuel Power Plant of Lakdhanavi Bangla Power Limited (LBPL)
Project: 52.2 MW Dual Fuel Power Plant
Borrower: Lakdhanavi Bangla Power Limited (LBPL)
Location: Jangalia, Comilla
Sponsor: Lakdhanavi Limited
COD: January 2015 (Expected)
IDCOL Loan: USD 15 million
Project Description: Under a 15-year Power Purchase Agreement signed with Bangladesh Power Development Board (BPDB), LBPL will design, build, own and operate a 52.2 MW Dual Fuel (HFO/Gas) power plant and supply electricity to BPDB. The EPC contractor of the project, Lakdhanavi Ltd., will install 6 engines and generators from Wartsila, Finland and Cummins, USA, respectively. An amount of USD 35 million has been raised from IDCOL and four Sri Lankan banks under a syndicated financing arranged by NDBIB, a Sri Lankan Investment Bank.
108 MW Gas Fired Power Plant of Regent Energy and Power Limited (REPL)
Project: 108 MW Gas Fired Power Plant
Borrower: Regent Energy and Power Limited (REPL)
Location: Ghorashal, Narsingdi
Sponsor: Regent Power Ltd. and Regent Spinning Mills Ltd.
COD: August 2014 (Expected)
IDCOL Loan: USD 30 million
Project Description: Under a 15-year Power Purchase Agreement signed with Bangladesh Power Development Board (BPDB), REPL will build, own and operate a 108 MW gas fired power plant to generate and supply electricity to BPDB. The supplier of 34 units of GenSet is GE Jenbacher GmbH & Co. OG, Austria. Other major contractors are Siemens (India), TM Engineering and Orient Energy Systems Ltd. IDCOL along with IFC and Bangladesh Infrastructure Finance Fund Limited have approved a total of USD 54 million debt facility for the project.
