04 August 2017


US $1bn Bangladesh power project to be developed by Summit, GE and Excelerate

Summit Power International, General Electric (GE) and Excelerate Energy are set to jointly develop a US$1bn (£765m) gas-fired power plant and offshore LNG import terminal in Menghaghat, Bangladesh.

Summit has signed a memorandum of understanding with GE, which will see the later provide US$50m of financing for the Menghaghat II gas-fired combined cycle power plant.

GE will also supply the gas turbine technology for the Menghaghat plant as well as equipment for any other power project developed by Summit over the next 36 months.

Summit also signed a 15-year FSRU charter deal with Excelerate Energy to provide feed gas for the project.

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