Power is the prime mover for the economic development of a country. For sustainable growth of GDP, Bangladesh needs sustainable, reliable and cost-effective power generation for feeding its emerging economy. The Government has launched immediate, short, mid and long term programs in order to generate 24,000 MW by 2021, 40,000 MW by 2030 and 60,000 MW by 2041 through introduction of fuel mix, public- private partnership for mobilizing finance, demand side management and energy efficiency. North-West Power Generation Company Limited (NWPGCL) along with other generation entities has been entrusted to achieve this target of the Government.
Since NWPGCL is not alone still not financially sound to install a coal-based mega project, the solution was to establish a strategic alliance of joint venture. For this purpose, NWPGCL signed a Joint Venture Agreement (JVA) with CMC on 09.06.2014 at the Great Hall of the People, Beijing, China in presence of the Hon’ble Prime Minister of the People’s Republic of Bangladesh Her Excellency Sheikh Hasina and her counterpart the Hon’ble Prime Minister of the People’s Republic of China His Excellency Li Keqiang in order to implement Payra 1320 MW Thermal Power Plant Project through establishment of a Joint Venture Company (JVC). In this perspective, Bangladesh-China Power Company (Pvt.) Limited (BCPCL) was incorporated with the Joint Stock Companies and Firms (RJSC), Bangladesh on 01.10.2014 under the provision of the Companies Act, 1994. The ratio of ownership of this Company between NWPGCL, Bangladesh and CMC, China is 50:50.
Future energy mix for power generation in Bangladesh leads the path towards coal and LNG. Bangladesh has no other choice but to develop coal-based power plants to meet-up the ever increasing demand of electricity. Sustainable power generation (affordable and available for long-term) requires steady, reliable supply of primary energy. There is no additional gas in the country, and oil is too expensive with volatile price fluctuation. This leaves us with coal-based power generation. More than 50% of the total generation of electricity will come from coal in near future. The present Government’s plan to develop 20,000 MW coal-based power plants by 2030 is a pragmatic decision in terms of fuel choice.
Coal will remain as main source of energy for several decades. This is because coal is the most important commercial source of energy. In this context, the Company intends to have schematic plan for installing eco-friendly ultra supercritical coal fired power plants for the cost-effective nature of coal. Moreover, the Company intends to implement renewable energy based power plants without cost of energy.
BCPCL is implementing Payra 1320 MW Thermal Power Plant Project (1st Phase) and going to implement Payra 1320 MW Thermal Power Plant Project (2nd Phase) at Dhankhali, Kalapara of Patuakhali by using eco-friendly clean coal technology i.e. ultra supercritical technology on turn-key basis. Moreover, the Company intends to implement renewable energy based power plants without cost of energy.
We believe that investors will gain a better understanding of our Company, if they understand how we respond and perform. We intend to generate competitive, eco-friendly, reliable and flexible power. We shall have the industry’s most comprehensive portfolio of thermal technologies and hold the leading position in power generation services. In the very outset of development, we will continue to create value for clients and to join hands in creating a splendid future.