Current Status: Operation
Source: EVPL
Thakurgaon 115 MW Furnace Oil Power Plant, also known as Energypac Thakurgaon Power Plant, is a reciprocating engine-based power plant situated in Gouripur under Thakurgaon Sadar Upazila in Thakurgaon District of Bangladesh (Location: 25.9739, 88.5139). It is operated by Energypac Power Venture Thakurgaon Limited (EPVTL), a Joint Venture Company (JVC) of Energypac Power Venture Limited (EPVL) and EMA Power Investment Limited (EPIL), as a private Independent Power Producer (IPP) for 15 years. The sponsor declared its Commercial Operation Date (COD) on 1 March 2022, and, as per schedule, the power plant will retire on 28 February 2037.
Capacity
The installed (gross) and derated (net) capacity of the power plant is 115 MW and 108 MW respectively.
Context
The Thakurgaon 115MW independent power plant (IPP), operated by Energypac Power Venture Thakurgaon (EPV Thakurgaon), emerges against a backdrop of challenges and strategic decisions. The power plant, a subsidiary of Energypac Power Generation, faced a two-year delay in its commercial operation, attributed to the global disruptions caused by the COVID-19 pandemic and other adversities. The plant utilizes heavy fuel oil (HFO). EPV Thakurgaon signed a fifteen-year agreement with the Bangladesh Power Development Board (BPDB) for the sale of electricity. The parent company, Energypac Power Generation Limited, has decided to divest its entire shareholding in EPV Thakurgaon, signaling a strategic shift in its corporate structure and business focus. (TBS, 2022). Energypac Power Venture Thakurgaon Limited (EPVTL), the entity behind the Thakurgaon 115MW independent power plant, boasts a consortium of notable sponsors facilitating its operations and development.
Sponsor
The primary sponsor is Energypac Power Venture Limited (EPVL), holding a controlling 51% stake in EPVTL. EPVL, in turn, is majority-owned by Energypac Power Generation Limited (EPGL) with a 90% shareholding. Additionally, EPVTL has attracted international investment, with EMA Power Investment Limited from the United Arab Emirates and DL Energy Company Limited (formerly Daelim Energy) from South Korea holding significant stakes of undisclosed percentages. DL Energy Company Limited invested 16 million, representing a 49% ownership share. The diverse range of sponsors, including international entities like EMA Power Investment Limited and Daelim (DL) Energy Company Limited, along with financial institutions such as Islamic Development Bank (IDB) Infrastructure Fund II and ASMA Capital, underscores the global collaboration and financial backing contributing to the success and sustainability of the Thakurgaon power plant.
Contractors
Energypac Power Generation Limited (EPGL) was appointed as the Engineering, Procurement and Construction (EPC) contractor of the power plant. German company MAN Energy Solutions bagged the order to supply six MAN 18V48/60TS engines (Bruke 2022).
Power Generation
According to the PPA, the scheduled Commercial Operation Date (COD) of the power plant was 15 November 2019. But the date was delayed to 1 March 2022. According to EPGL, the construction process was delayed due to heavy floods, dengue fever during the second half of 2019, and the severe impact of COVID-19 in subsequent periods starting from early 2020 (EPGL 2021).
Environment
According to Section 12 of the Bangladesh Environment Protection Act 1995, Environmental Impact Assessment (EIA) is obligatory for any industry (MOLJPA, 1995). The polluting industries, such as power plants, have to go through an Initial Environmental Examination (IEE) and EIA as directed in the Environmental Conservation Rules 2017 (MOEFCC, 1997). But, to date, no IEE or EIA report has been found of the power plant. According to the Environmental Conservation Rule 1997 the project falls in the “Red category” indicating it is a potentially harmful project to the environment.
References
Burke, Jack 2022. "MAN engines powering Bangladeshi plants". The Diesel & Gas Turbine Worldwide (DGTW): 7 June 2022
DL Energy 2020. “Thakurgaon HFO Power (Bangladesh)”. DL Energy Company Limited: September 2020
EPVL 2022. “Energypac Power Venture Thakurgaon Limited (EPVTL)”. Energypac Power Venture Limited (EPVL): Undated (accessed on 15 June 2022).
TBS 2022. “Energypac’s 115 MW plant starts operation”. The Business Standard (TBS): 3 July 2022.
MOEFCC (1997). “The Environmental Conservation Rules”. Ministry of Environment, Forest and Climate Change (MOEFCC): 27 August 1997.
MOLJPA (1995). “Bangladesh Environment Conservation Act 1995”. Legislative and Parliamentary Affairs Division, Ministry of Law, Justice and Parliamentary Affairs (MOLJPA): 16 February 1995.
MOEFCC (2023). “The Environmental Conservation Rules”. Ministry of Environment, Forest and Climate Change (MOEFCC): 5 March 2023.
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