Sembcorp to Supply 250 MW Power to Bangladesh for 15 Years

The wholly owned subsidiary of Sembcorp Energy India (SEIL), SGPL won competitive tender which was conducted in India by the Bangladesh Power Development Board (BPDB).

 As a substantial addition to its portfolio, Sembcorp Industries has secured a tender to supply 250 MW of power to Bangladesh for 15 years.

The wholly owned subsidiary of Sembcorp Energy India (SEIL), SGPL won competitive tender which was conducted in India by the Bangladesh Power Development Board (BPDB).

The leading energy providing group has won the tender for its Sembcorp Gayatri Power (SGPL) power plant which would commence the power supply operation to Bangladesh after completion of procedural requirements and relevant government approvals.

Managing Director, SEIL, Vipul Tuli said, “We are pleased to have emerged as the successful bidder in this tender, and look forward to commence supply of power under a tariff that is competitive for Bangladesh and sustainable for our company. Our participation and success in this bid fits into SEIL’s strategy of providing cost-competitive and reliable power, while prudently contracting our balance open capacity at viable tariffs.”

Sembcorp has been assisting Bangladesh in meeting its pressing need for power. Aside from SEIL’s participation in this tender through SGPL, the Sembcorp Industries is also part of a consortium which is constructing the Sirajganj Unit 4 power project in Bangladesh.

 Moreover, the Sirajganj power plant, which will have a contracted capacity of 426 megawatts, is targeted to begin open-cycle operations later this year and achieve full commercial operations in 2019.

However, the tender is not expected to impact the company’s earnings per share and net assets per share.