By IANS
Dhaka : Saudi-Malaysian consortium Pendekar Energy is to formally take over two power plants in Bangladesh, marking the end to the long dominance of Bermuda-based Globeleq in the country’s power generation sector.
Pendekar is to take over the Meghnaghat and Haripur power plants that account for 35 percent of the country’s power generation.
The acquisition is the largest in the power sector till now.
In addition, Pendekar will also jointly operate the 113 MW NEPC, in which Globeleq was involved, the Dhaka-based Financial Express said Thursday.
While official clearance from the power division is still pending, Pendekar has obtained separate notes of consent from its lenders for the buyout deal, officials said.
An analyst, preferring anonymity, told the newspaper: “We shouldn’t be oblivious that electricity supplied to the national grid by Globeleq was perhaps the cheapest in the world, even cheaper than that of Bangladesh Power Development Board’s own plants. So, the new deal calls for rigorous monitoring by the government.”