This investment was made when British International Investment was named CDC Group.
Our investment
In 2016, CDC made a debt investment of $103 million to finance the construction of the 414 megawatt (MW) project, alongside the IFC and Singapore-based infrastructure project finance firm, Clifford Capital.
The project will be the second largest independent power plant in the country, and represents the largest direct foreign investment into this sector in recent years.
Our investment will enable construction work on the Sirajganj power plant to begin.
Expected impact
The chronic lack of electricity in Bangladesh is a major barrier to the reduction of poverty and the country’s economic growth. In recent years, Bangladesh has had to rely on emergency power plants, which typically utilise either high speed diesel or heavy fuel oil, to deal with power outages.
Once operational, the Sirajganj 4 plant will be able to supply cost-effective and reliable energy to the country.
It will help to alleviate Bangladesh’s electricity shortages, lowering the cost of generation, and helping the country meet its growing demand for power.
This sustainable energy project has the potential to transform millions of lives and will help boost direct and indirect employment in the region.
Environmental and social aspects
CDC is working with the company and other lenders to ensure that international environmental and social standards are implemented during the plant's construction period and in its day-to-day operations.
Key facts
- Status:
- Active
- Region
:
Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.
- South Asia
- Countries:
- Bangladesh
- Sector
:
We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.
- Infrastructure
- Investment type
:
We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).
- Direct Debt
- Start date
:
For direct investments, this is the date British International Investment committed capital to the business or project.
For funds, this is the date that British International Investment committed capital to the fund.
For underlying fund investments, this is the date that the fund invested capital into the business.e
- October 2016
- Amount
:
For direct investments, this is the total amount that British International Investment has committed to the business or project (it may be a combination of equity and debt).
For funds, this is the total amount that British International Investment has committed to the fund.
- $103m
- Domicile
:
This is the investee company’s place of incorporation; or a fund’s jurisdiction.
- Bangladesh
