The Asian Development Bank (ADB) has approved a US$75m loan to Summit Bibiyana II Power Company, for its Bibiyana-2 gas-fired CCGT power project in Bangladesh. The project includes the design, engineering, construction, and operation of a 341 MW CCGT to be located on the south bank of Khushiyara River. Construction is expected to be completed by October 2015, and the plant will produce around 2.5 TWh/year of electricity. The project will sell power to the Bangladesh Power Development Board (BPDB), Bangladesh’s state-owned electricity company, under a 22-year power purchase agreement.
The project will contribute to the government's master plan to develop 12 GW of additional power capacity over the next five years to diversify its power mix with renewables, increase the electrification rate and, above all, meet rising demand. Bangladesh is regularly hit by severe power shortages and periodic load shedding affecting industrial and commercial businesses.
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