Bangladesh announced two major energy deals on Wednesday, with a total $5.8 billion investment, according to Reuters.
Nearly 30 percent of Bangladesh’s population does not have access to electricity. The country relies on its gas resources for 70 percent of its energy production but as demand has risen its supply has struggled to keep up and the country is now becoming an LNG importer.
One of the joint ventures is a partnership between U.S. General Electric, Japan’s Mitsubishi Corp. and local privately owned Summit. They will set up and invest $3 billion in a 2,400-megawatt thermal power plant and related oil and LNG terminals.
And the other venture is with General Electric and state-run Bangladesh Power Development Board to produce a 3.6-gigawatt LNG to gas based combined cycle power plant and associated LNG import terminal and related infrastructure.