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ACWA Power inks MoU for 3,600 MW gas plant in Bangladesh
ACWA Power has signed a memorandum of understanding (MoU) with the Bangladesh Power Development Board (BPDB) for a LNG-based power plant and terminal in Bangladesh. As part of the agreement, ACWA Power will target the development of a 3,600 MW gas fired independent power plant (IPP) representing a total investment of some $2.5bn.
The project will also include a regasification terminal at an expected additional cost of $500mn. The plant will may be located in Maheshkhali, or an alternative location, upon completion of the feasibility study.
The signing marks ACWA Power’s largest gas-to-power development and its initial foray into the Bangladesh power market.