Unique Meghnaghat Power Limited (“UMPL”) was established on 25 September 2018 as special purpose vehicle (SPV) for the construction and operation of 584 MW gas based combined cycle power plant (“the Project”) at Sonargaon, Narayanganj, Bangladesh on a Build Own Operate (“BOO”) basis for 22 years. The Project achieved Commercial Operation Date (COD) on 20 January 2024. From the COD date, Plant has been operating as per the demand from National Load Dispatch Center (NLDC).
UMPL is a joint venture establishment of Unique Hotel & Resorts Limited, Strategic Finance Limited, GE Capital Global Energy Investments B.V and Nebras Power Investment Management B.V.
UMPL executed Implementation Agreement (IA) with the government of the People’s Republic of Bangladesh and Power Grid Company of Bangladesh; Power Purchase Agreement (PPA) with Bangladesh Power Development Board (BPDB) and Gas Supply Agreement (GSA) with Titas Gas Transmission and Distribution Company Limited (TGTDCL) of Government of Bangladesh for 22 years.
The project has been financed at 75:25 debt equity ratio. The project lenders are Swiss Export Credit Agency (SERV) covered Standard Chartered Bank, Asian Infrastructure Investment Bank (AIIB), German Development Finance Institution KFW-DEG, OPEC Fund for International Development (OFID) and Hong Kong Mortgage Corporation Limited.