Unique Meghnaghat Power Limited, a joint venture of Unique Hotels and Resorts Plc, has been successfully added to the national grid and received backfeed power from Bangladesh grid on June 25. The joint venture company comprises Unique Hotels, Strategic Finance Limited (SFL), Nibras Power Investment Management BV, and GE Capital Global Energy Investment BV. In March this year, the joint venture companies secured a 15-year foreign loan of $463 million for the power project. The loan includes contributions from Standard Chartered Bank ($270 million), Asian Infrastructure Investment Bank ($110 million), Deutsche Investment- und Entwiklunggesellschaft ($45 million), and the OPEC Fund for International Development ($38 million). The 584 MW combined cycle power plant, situated in Sonargaon, Narayanganj, maintains a debt equity ratio of 75:25, with Unit Hotels and Resorts expecting to receive 37.24 percent of the project’s profit.
Unique Meghnaghat Power Connects to National Grid
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