Public utility Qatar Electricity and Water Company (QEWC) has acquired a 24 percent equity stake in Unique Meghnaghat Power Ltd. in Bangladesh through its subsidiary, Nebras Power Investment Management B.V., Zawya reports.
QEWC did not disclose the value of the transaction. Nebras and General Electric will continue to jointly hold a 76 stake in the project.
Mohammed Nasser Al-Hajri, Chairman of Nebras Power said the acquisition will be a “strategic foundation for Nebras’s entry into the Bangladeshi power sector”.
Unique Meghnaghat is constructing a 584 MW combined cycle power plant at Meghnaghat, near Dhaka. The plant, which will be one of the largest Independent Power Producer (IPP) projects in the country, has a 22-year power offtake agreement with the Bangladesh Power Development Board.
Nebras, a strategic investor in the power and water sectors, is a joint venture in which QEWC holds a 60 percent stake while Qatar Holding has 40 percent.
Qatar’s QEWC acquires 24 per cent in Bangladesh power company
