Investment in big challenge
Staff Correspondent: The government is going to implement hydro power project jointly with Nepal and India but here investment will be the main challenge.
The government plans to invest $1billion in hydro electricity sector. The power will be imported mainly from Nepal and Bhutan because both the countries have potentiality to generate hydro-electricity.
But still Dhaka doesn’t have funding policy for the mega project. Nowadays, it is considered as a major challenge for the power sector.
According to plan, a hydro-power company will be set up in Bangladesh which will not only generate electricity but also import this kind of pro-environment electricity from the neighboring countries. Thus the government needs huge investment for the project which yet to be un-talked.
It is likely to be named the Hydro Power Generation Company Limited which will import electricity from the hydro-power plants of Nepal and Bhutan.
State Minister for Power and Energy Nasrul Hamid told the Daily Industry on Sunday “We are going to invest US$1billion to import environment friendly hydro-power from Nepal and Bhutan. Already tri-nation discussion has been started. Though it is a big challenge to collect find but all we will discuss the matter in next meeting”.
A recent study conducted by a US consultancy firm said that two rivers in the Chittagong Hill Tracts could potentially generate 79MW. The Power Cell, under the Power Division, supervised the study conducted by Streams Tech, Inc (STI). The study said that 58.33MW power can be generated from the Sangu River and 20.83MW from the Matamuhuri River.
The 230MW Karnafuli Hydroelectric Power Station, built in 1962, is currently the only major source of hydro-power in Bangladesh.
The hydro power company will be the pioneer in the sector which will both generate and import, a Power Cell official said, “We have made a decision on principle to set the company up”.
He said that the division had already directed the Power Development Board (PDB) to prepare articles of association and relevant memorandum of association required to form the company.