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BMI View: Gas will remain the dominant source of energy for electricity generation in Bangladesh for
much of the foreseeable future. However, if Bangladesh is to stop the acute gas shortages from crimping
economic growth, the country will have to cut its over-reliance on gas-fired capacity and diversify the
energy mix. The government outlined plans to ensure coal accounts for 50% of the energy mix by 2030, but
we remain unconvinced such plans will come to fruition as local opposition to the exploitation of
Bangladesh's huge coal reserves has so far stymied the development of a domestic industry.
Latest Updates And Structural Trends
? BMI forecasts power generation in Bangladesh at 67.2TWh in 2016, before rising to 70.1TWh in 2017,
an annual growth rate of 4.3%. We estimate this figure will rise to 121.7TWh in 2025, the end of our
forecast period, an average annual growth rate of 7.4%.
? The government's efforts to attract foreign investors into the country appear to have been gaining traction
over the past year. In June 2015, India-based Reliance Power secured a USD1.56bn contract from
Bangladesh Power Development Board (BPDB) to set up a 3GW combined-cycle power project in
Bangladesh. In September 2014, the BPDB signed a Memorandum of Understanding (MoU) with
Malaysian state-owned companies Tenaga Nasional and Powertek, to assess the joint development of a
1,320MW coal-fired plant in Maheshkali.