Rampal set to produce electricity within a week

The reduction in international coal prices has significantly decreased the production costs of coal-based power plants in Bangladesh. The cost of fuel in these power plants saw a massive reduction of 50% in the price of coal in the international market. This reduction has had a direct impact on the affordability of electricity generation, making it more accessible for consumers. Specifically, the average fuel cost per kilowatt of coal-based power generation has decreased to around 7 taka 30 paise. Previously, electricity prices ranged from 16 to 18 taka per kilowatt due to higher fuel costs.

Petrobangla, the state-owned oil, gas, and minerals corporation, is embarking on an ambitious plan to drill a total of 48 wells across different gas fields to add 618 MMCFD to the national grid by 2025. This endeavour is crucial given the current gas shortage being experienced by various sectors, including power and industries.

The issue of unpaid bills for electricity import from India, amounting to Tk 60 thousand crores as of the end of last January, has put significant strain on Bangladesh's finances. The government's efforts to address this challenge, including releasing subsidy funds and issuing special bonds, have been insufficient to cover the outstanding liabilities.

The closure of Bhola's 34.5 MW rental power plant three months ago due to mechanical failure has plunged the district into a prolonged period of darkness and load shedding. The West Zone Power Distribution Company (Ozopadico) has been struggling to meet the electricity demand through the national grid, leading to frequent power outages. This situation has exacerbated the impact of the current heatwave on the people of Bhola, making daily life unbearable.

The resumption of regasification by Summit LNG Terminal Co's floating storage and regasification unit (FSRU) has led to an increase in the country's overall gas supply from gas-fired power plants. After resolving a technical glitch following its overhaul in Singapore, Summit's FSRU has resumed regasification, contributing to improved gas supply in Bangladesh.

The Power Division is actively pursuing the implementation of 125 green energy projects in Bangladesh, aiming to meet 10% of the country's power needs from renewables by 2025. These projects are expected to have a combined generation capacity of 12,047 megawatts, exceeding the country's present demand in winter and accounting for 70% of summer consumption.

Of these projects, seven solar power plants will incorporate energy storage capabilities to provide electricity during evening peak hours. The Power Division has received numerous investment proposals, both domestic and foreign, totalling around 11,000-12,000 megawatts of renewable energy.