Demand for electricity in Bangladesh is projected to reach 50,000 megawatts (MW) by 2041. The Government of Bangladesh has plans to increase power generation beyond expected demand to help propel growth in the export-oriented economy and meet the needs of a growing middle class by raising $127 billion in total investments in the power generation sector by 2041. Electricity generation capacity has increased significantly over the last decade, despite poor transmission and distribution infrastructure, inadequate thermal efficiency in a large number of aged power plants, and a mismatch between the types of energy needed by existing plants and the fuel mix available. Private power production units make up approximately half of total installed capacity
Electrical generation capacity has increased from about 5 gigawatts in 2009 to 25 gigawatts in 2021, and access to energy has expanded to nearly 95 percent of the population. Still, the reliability and quality of electricity remain major issues. Improving the supply and reliability of electricity and energy in general, while maintaining affordability, is essential to supporting the continued growth of industry and commerce in Bangladesh.
The fuel mix used in Bangladesh’s power plants heavily favors natural gas. As domestic natural gas fields are depleted, the Government of Bangladesh plans to increase the use of imported liquified natural gas (LNG). Prior to 2020, the Ministry of Power, Energy, and Mineral Resources Plans planned to shift Bangladesh’s fuel mix toward coal – including by generating as much as 50 percent of total electricity using coal-based power plants by 2030. However, in 2021 the Bangladeshi government scrapped plans to build 10 coal-fired power plants, citing unsatisfactory progress of the projects. In addition, the government is framing a new Power System Master Plan (PSMP) where the use of coal will likely get a lesser priority in the face of pressure from environmental groups and development funding partners such as donor nations and development banks. The government is also considering importing more electricity from neighboring countries and expanding the use of renewable resources, including solar and wind power.
Korea have a large industry for energy plants. Partner companies and business firms looking for expansion or const optimization can explore the available opportunities that keep presenting with time. We can work jointly as part our initiative to support and enhance the cooperation on multiple areas of energy plant.
We welcome firms to send enquiries and explore with us on various options.
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