Sirajganj 4 Combined Cycle Power Plant

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The project involves the development and operation of a 414 MW combined cycle power plant in Sirajganj district of Rajshahi, north-western Bangladesh. Sembcorp North-West Power Company Ltd, the joint venture of Sembcorp Utilities of Singapore and Bangladesh's state owned North-West Power Generation Company Ltd, will lead the project. The project will be procured as a PPP on a build, own and operate basis and it is scheduled to be completed in 21 months. SembCorp Industries (71%) and state-owned North West Power Generation Company (29%) are the project sponsors. Bangladesh Power Development Board will purchase electricity from the plant at tariff rate of of $0.0399 per kWh for gas-fired power and $0.1696 per kWh for oil-fired power for 22.5 year. Debt financing for the facility was provided by IFC, Clifford Capital and UK development finance institution CDC Group, each contributing $103 million to the project financing. MIGA has also provided a political risk guarantee to Sembcorp for its equity investment. Sponsors' equity amounts to $103 million. The debt-to-equity ratio is 75:25. Financial close occurred on 22 August, 2017. https://ijglobal.com/data/transaction/21343/sirajganj-4-dual-fuel-power-plant-414mw-ppp http://www.engineeringnews.co.za/print-version/sirajganj-4-combined-cycle-power-plant-project-bangladesh-2016-01-22 http://www.nwpgcl.org.bd/en/pages/news-and-events/sembcorp https://disclosures.ifc.org/#/projectDetail/SII/36050