ACWA Power inks deal for 3,600MW of gas-based plants in Bangladesh

It will also build a regasification terminal worth $500m.

ACWA Power signed a memorandum of understanding with the Bangladesh Power Development Board (BPDB) for a LNG-based power plant and terminal in Bangladesh. As part of the deal, it will develop gas-fired independent power plants with a total capacity of 3,600MW representing a total investment amount of $2.5b, according to an announcement.

The project will consist of the intended power plants as well as a regasification terminal on-ground with an expected additional investment of approximately $500m. The plant will potentially be located in Maheshkhali, or an alternate 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. ACWA Power will also work with Saudi Aramco for the project.

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