Chattogram:Ocean Aid Services Ltd (OASL) is establishing itself as a connector between international financiers and Bangladesh's key energy projects, focusing on initiatives valued at over $50 million under an EPC+F (engineering, procurement, construction, and finance) framework.
According to United News of Bangladesh, OASL Managing Director AHM Manzoor Alam stated that the company aims to facilitate financing for viable projects by linking them with qualified foreign investors and financing groups, although it will not directly invest in the projects. Alam emphasized the importance of energy security and the transition to clean energy, highlighting the need for long-term capital, technology, and expertise to meet Bangladesh's growing infrastructure needs.
OASL is targeting opportunities in various sectors including power generation, renewable energy, and energy infrastructure. These areas encompass utility-scale solar, gas-fired and hybrid fast-track power plants, transmission lines, substations, grid automation, SCADA systems, smart metering, battery energy storage, and strategic facilities such as fuel storage and LPG terminals. The international financiers OASL collaborates with prefer projects exceeding $50 million, which should have a medium implementation period of two to three years and an import component.
Alam noted that projects won't be considered committed investments until formally confirmed, with specific projects being settled through discussions with relevant government bodies. OASL aims to initiate dialogues with ministries and state entities to identify priority projects, followed by feasibility assessments and structuring of financing agreements.
For EPC+F projects, government support will involve designating a sponsoring ministry, confirming project priority, validating documentation, and coordinating with agencies. Where necessary, this support will extend to sovereign loan arrangements through the Ministry of Finance. Local participation is crucial to the proposed model, with OASL potentially collaborating with ministries, utilities, state-owned entities, Bangladeshi companies, EPC contractors, and suppliers.
International partners will contribute technology, engineering expertise, equipment, project management, and finance, while OASL will manage local coordination and stakeholder engagement. These projects have the potential to create jobs, introduce modern technology, support local industry, and boost economic activity. The benefits will vary based on each project's size, structure, and performance. Alam also highlighted the need for additional electricity to meet demand by 2030 and the opportunity for renewable energy growth and grid improvements in Bangladesh. OASL is committed to operating within the country's established regulatory and procurement frameworks.