220MW wind power project to be built in Cox`s Bazar

To meet the country's electricity demand, a wind power plant with a production capacity of 220 MW is scheduled to set-up at Chakria in Cox's Bazar.

Hong Kong-based company JT New Energy Company Limited will build it.

The sponsoring organization will bear the entire cost of setting up the power plant in the private sector on Build-Own-Operate (BOO) basis and on No Electricity, No Payment conditions.

The government will purchase electricity from the proposed power project for a period of 20 years.

Sources said regarding the purchase of electricity, opinions of the Power Grid Company of Bangladesh Limited (PGCB) regarding the evacuation of electricity generated from the proposed project and Bangladesh Electricity Development Board, has been taken. The sponsoring company will procure the necessary land at its own cost for the project and will bear the maintenance cost.

Initially, the sponsor company proposed a tariff rate of $1315.00 per kilowatt hour (BDT 14.3992). Later, through negotiations, the electricity tariff rate was fixed at $1225.00 per kilowatt hour.

The sponsoring company will get 36 months for commercial production of electricity, according to the deal.

Power division sources said an agreement has already been signed to construct 60 MW and 55 MW wind power plants in Cox's Bazar and Mongla.

To ensure universal electricity service and energy security, the government is giving special importance to the development and expansion of renewable energy.