Bilal9
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DS: When did GE start its business in Bangladesh? Currently, how many business entities of GE are operational in the country?
Goldmeer: GE started its operations in Bangladesh in 1970. It supplied the country's first steam turbine used in power generation. This was followed by the installation of the first gas turbine in 1976. In 1995, the country's first combined cycle power plant (CCPP) started commercial operation using GE's technology. Today, GE has the largest installed base of gas turbines in the country.
GE Healthcare has a robust equipment base in Bangladesh and is working with major private and public healthcare facilities, helping transform healthcare in the country.
Jeffrey Goldmeer
DS: What are the key business areas? How many people are employed?
Goldmeer: The installed fleet of 40 GE gas turbines is capable of generating 3 gigawatts of gas-fired power in Bangladesh, equivalent to supplying electricity to more than 3.6 million homes. GE Gas Power also has six gas turbines that are under various stages of commissioning.
More than 3,000 people are working with GE Gas Power, directly and indirectly, to perform various functions and at power projects. Most of them are local.
DS: Tell us about GE Gas Power's investment in Bangladesh.
Goldmeer: Over the last decade, GE Gas Power achieved several significant milestones that paved the way for our robust growth trajectory in Bangladesh. GE has been an equity investor in projects like Summit's Meghnaghat 335 MW and the Bibiyana 341 MW combined cycle gas power plants.
We are also invested in the upcoming Summit 583 MW and Unique 584 MW CCPP in Meghnaghat that will be powered by record-setting and most advanced GE 9HA.01 gas turbine technology. GE is proudly associated with the development of the country's first private sector floating storage re-gasification unit with Summit Group as an investor to ensure fuel security in Bangladesh.
DS: Why does GE see Bangladesh as the best investment destination among Asian nations?
Goldmeer: Bangladesh is undergoing a massive economic transformation. The country has a clear focus to become an upper-middle-income country by 2031 that needs the implementation of stringent government policies to attract investment, promote skilling and create a ready market for global customers. Despite the global meltdown, the country clocked a GDP growth of 7.1 per cent in the fiscal year of 2021-2022. This is impressive.
Once access to electricity improves, per capita consumption of power will also increase, acting as a catalyst for the growth of the local and national economy.
DS: How much additional electricity could be generated with the new investment and technology offered by GE?
Goldmeer: The government's strategy of repowering the old power plants is giving a new lease of life to the plants that had been running for more than two decades. GE Gas Power is playing a key role in modernising the gas power plants such as Ghorashal Unit 3 and Unit 4. This will add at least 25 years to the lifetime of the power plants.
GE is also implementing the country's first SWING mode power plant at Shahjibazar with our aero-derivative machine, which can instantaneously and continuously ramp up or ramp down as per grid requirements to ensure grid frequency stability.
GE Gas Power signed an agreement to provide maintenance services and a suite of digital solutions for the upcoming 718 MW CCPP in Meghnaghat. With the commencement of commercial operation of the upcoming power plants, we expect to supply up to 6 GW of reliable power to Bangladesh's grid in the near future.
DS: Bangladesh, like other Asian economies, is exploring ways to make an energy transition. What role can GE Gas Power play to help Bangladesh progress in this journey?
Goldmeer: Climate change is real and it is important for emerging economies like Bangladesh to adopt sustainable ways to generate economic value while keeping pace with infrastructure development. Bangladesh will need $35 billion investment by 2041. The country has also pledged to produce 40 per cent of its electricity using clean energy resources by 2041.
It's encouraging to observe that Bangladesh will be working on a hydrogen policy to find solutions to resolve its power crisis and aims to generate hydrogen-based power by 2035.
DS: What are GE's plans in Bangladesh for the next five years?
Goldmeer: Bangladesh has set robust targets to achieve an installed base of 40 GW by 2030 and 60 GW by 2041. The country is also giving priority to increasing the share of clean energy in its energy mix. GE has been at the forefront to partner with Bangladesh to transform its power sector.
We will continue to play a role in the upcoming gas power projects and also take part in new infrastructure development projects across the energy value chain.
