Bangladesh Power Development Board (BPDB) signed a $120 million agreement on Thursday with a tri-nation joint venture company USDKGEL to build a 60 megawatt wind power plant at Cox's Bazaar.
As per the agreement, the power plant will be built in 12 months from the date of signing. The USDKGEL - a joint venture among US, Denmark and Bangladeshi companies - will build and operated the plant to supply 60-mw electricity to the national grid. The company will arrange the total project cost. The agreement will remain valid for the next 18 years when the joint venture power producers supply electricity to the BPDB for 12 US cents per kilowatt, according to BSS.