Summit Power(15 PJTs, Bangladesh)

EMA Power Investment (a joint venture between Daelim Energy and Islamic Development Bank Infrastructure Fund II), IFC (a member of the World Bank Group), and IFC Emerging Asia Fund (an Investment fund managed by IFC Asset Management Company) have invested $175.5 million to finance potential power projects led by the local Independent Power Producer, Summit Corporation Ltd., in Bangladesh. This investment will enable Summit Corporation Ltd. to install green-field electricity-generation plants, including a 570 MW LNG Combined-Cycle Power Plant and a 150 MW heavy fuel oil-based power plant, to alleviate Bangladesh’s critical energy gap. This project is the first project that DE fully exited in 2019 and achieved high profitability.

Bangladesh Summit Power

Project Outline

Project Outline
Company Name Summit Corporation Ltd.
Location Bangladesh
Fuel Type Gas, HFO, Dual Fuel (Gas/HSD)
Capacity 1,393MW (Gas : 556MW, HFO : 532MW, Dual Fuel : 305MW)
Key Milestones Convertible Loan Disbursement : August, 2016
Investment Exit : October, 2019
Co-Investors IFC / IFC Emerging Asia Fund / EMA Power investment*

(*) EMA Power Investment is a joint venture between Daelim Energy and Islamic Development Bank Infrastructure Fund II