Feb 26 – Summit Power International is preparing to list on the Singapore Stock Exchange (SGX) by April as it seeks to raise funds to invest in assets across Asia. Summit Power is likely to be the first Bangladeshi firm to get listed at SGX. It has appointed Citigroup, DBS and UBS as global coordinators.
Plans for another FRSU with 17 mtpa regas capacity and an onshore LNG terminal show the government of Bangladesh “is clearly in support to boost its LNG supply,” Wood Mackenzie comments. Already, private capital is being attracted to this sector with Summit Power, Reliance Power and Petronet looking to invest in these terminals.
June 29 – The Bangladesh-based Summit Group plans to invest over $1 billion and generate around 1,310 MW by 2020. The biggest plant project is set to add 600 MW and will help dent India's anticipated rise in electricity demand of 7% per year.
"We must access and develop regional hydroelectricity potentials and nuclear energy. But fossil fuel will remain our main energy source for many years to come," Summit finance director Ayesha Aziz Khan told reporters.
Apr 22 - Bangladeshi energy company Summit Power has started installation of a 230 MW gas turbine at the Bibiyana gas-fired combined cycle power plant as part of phase two construction.
The turbine was manufactured by GE in the U.S. prior to shipment to the plant site near Mongla port in south-western Bangladesh.
Seattle-based Summit Power Group and German technology company Linde have teamed up to develop commercial-scale natural gas-fired power plants that will capture up to 90% of carbon emissions.
Bangladesh's independent power producer Summit Power Ltd. has signed several deals with General Electric (GE) and China National Electric Engineering Co. (CNEEC) to build a 335 MW dual-fuel power plant near the capital Dhaka. The plant will run on natural gas as well as on oil, the operator Summit Power said.