Marubeni : MoU Signed with EGCB for the Joint Development of the Feni Solar PV Power Plant Project in the People’s Republic of Bangladesh
May 20, 2021 at 10:03 pm EDT
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May. 21. 2021
Marubeni Corporation
On May 20th, Marubeni Corporation (hereinafter, 'Marubeni') signed a Memorandum of Understanding (hereinafter, 'MoU') with Electricity Generation Company of Bangladesh Limited (hereinafter, 'EGCB'), an electricity and utility company owned by the Bangladesh Development Board (hereinafter, 'BPDB'). The MoU is regarding the joint development of the 100MW Solar PV Power Plant Project in Chittagong, Feni, southeast of People's Republic of Bangladesh (hereinafter, the'Project').
In line with its strong economic growth, the generation capacity of Bangladesh is continuously increasing and the government aims to expand its renewable energy capacity to 10% of the country's total generation capacity. The MoU was also approved by the Bangladesh Ministry of Power, Energy and Mineral Resources, an organization operating above EGCB and BPDB.
Marubeni has a track record of installing approximately 1,300MW of gas-fired power plants and hydropower plants in Bangladesh. If this Project is realized, it will become one of the largest scale solar power plants in the country, and the first Independent Power Producer project for Marubeni in the country.
Marubeni owns stakes in power projects across 19 countries (including Japan) for a total net capacity of about 12GW. Also, as part of the company's activities for enhancing sustainability, Marubeni issued the Notification Regarding Business Policies Pertaining to Sustainability in Relation to Coal-Fired Power Generation Business and Renewable Energy Generation Business in September 2018, and set the Marubeni Long-Term Vision on Climate Change in March 2021 for the purpose of contributing to solving global climate change. Marubeni will continue to expand its business activities in the renewable energy power sector and reduce coal-fired power generation business throughout the world.]
Electricity Generation Company of Bangladesh Ltd. (EGCB)
Established
:
February 2004
Location
:
Dhaka, People's Republic of Bangladesh
Business
:
Generation in Bangladesh
Bangladesh Power Development Board (BPDB)
Established
:
May 1972
Location
:
Dhaka, People's Republic of Bangladesh
Business
:
Generation and Distribution in Bangladesh
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Marubeni Corporation published this content on 21 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2021 02:02:00 UTC.
Marubeni Corporation is a diversified group organized primarily around 12 business segments:
- sale of agricultural products and related services (47% of net sales): sale of agricultural inputs (crop protection products, fertilizers, seeds, etc.), precision farming services, formulation of crop protection products, export of cereals and oilseeds, etc.;
- sale of food products (17.6%);
- production and distribution of oil, gas, alternative energy and electricity (10.4%);
- production of chemicals and petrochemicals (6.4%);
- production of metals and mineral resources (4.9%);
- sale and financing of industrial and construction machinery and equipment (4.6%). The group also develops car sales and tire distribution activities;
- sales of consumer electronics (4.3%). In addition, the group develops real estate development and management activities;
- sale of forest products (2.3%): wood chips and biomass fuel, pulp and waste paper, paper, paperboard, hygiene products, building & construction materials and wood products;
- sale of apparel, accessories, textile and lifestyle products (1.1%);
- management and operation of aircraft and ships (1%);
- development of energy production units and industrial installations (0.3%);
- finance and leasing (0.1%): auto finance, aircraft leasing, aircraft engine leasing, leasing and renting of refrigerated trailers, commercial vehicles and commercial freight railcars, etc.
Net sales are distributed geographically as follows: Japan (37.2%), the United States (42.5%)
MARUBENI CORPORATION 
