British International Investment

Summit Meghnaghat

South AsiaInfrastructure

Singapore-based Summit Power International (SPI) is a leading infrastructure developer and operator in South Asia. SPI comprises a group of businesses which focus on developing, owning and operating power generating assets.

Having established Bangladesh’s first independent power plant in 1997, SPI is the country’s largest independent power producer, with 15 power plants and total generating capacity exceeding 1,201 megawatts (MW).

This investment was made when British International Investment was named CDC Group.

Our investment

Description of the investment.

In 2014, CDC committed $17.5 million to a $120 million long-term finance facility for the Summit Meghnaghat Power Company. The company will construct and operate a 335MW dual fuel combined cycle power plant near Dhaka.

The facility was wholly-funded by DFIs, including the lead lender, Germany’s DEG, and the Netherlands’ FMO. It will be the largest project financed by international investors in Bangladesh.

Expected impact

Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.

Bangladesh suffers from a severe power shortage. Just 60 per cent of all Bangladeshis have access to the grid, and the country remains one of the most difficult places for businesses to access electricity. Currently, the greater Dhaka area experiences multiple power cuts per day and rural areas are subject to vast load shedding.

Energy is one of the main drivers for economic growth, and reliable power is essential to achieve the projected annual GDP growth of over 6 per cent.

The lack of long-term finance has previously held back private sector development of power plants. Our funding for the Summit Meghnaghat Power Company will support the government’s target to provide electricity to all Bangladeshi households by 2021.

During the plant’s construction phase, Bangladeshi companies will provide up to 300 local workers, and up to 100 local workers during the operational phase. There will also be indirect business and employment benefits from the project.

Environmental and social information

  • Environmental and social summary

    A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.

  • Environmental and social risk

    A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.

Environmental and social summary

Summit Meghnaghat has satisfactorily complied with the agreed ESAP and continued compliance on a ongoing basis during its operational phase. BII along with other co-investors reviews E&S performance periodically and has found it satisfactory.

Reporting and Complaints Mechanism

The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to [email protected] or by mail. See more details on our Reporting and Complaints Mechanism here.

For any other general enquiries contact us at [email protected]

  • Key facts

    Last updated

    When the last quarterly update of the website database occurred.

    March 2024
    Project number

    An identifier number shared by investments in the same project.


    The current status of the investment (green flag for active and red flag for exited).


    The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.

    South Asia

    We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.


    We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.

    For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.

    For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.

    For direct equity investments, this is the date at which British International Investment exited the investment.

    For debt investments, this is the date at which the final debt repayment was made.

    For funds, this is the date at which the fund was terminated.

    For underlying fund investments, this is the date at which the fund manager exited the investment.

    The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.

    For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.

    The currency in which the investment was made.

    Investment type :
    Start date :
    April 2014
    Amount :
    Currency of investment :

    The company or investment fund’s place of incorporation.


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