EMA Power Investment, a joint venture fund between DL Energy and IDB Fund II, develops a 115MW HFO-fired power project in Thakurgaon, Bangladesh (the “Project”). The Project was initially developed by a local company, Energypac Power Venture Ltd. (“EPVL”). More specifically, its construction started in October 2018 and was planned to be in its commercial operation in 2020.

DL Energy will invest US$ 16 million in total and raise the remaining amount through ECA and MLA lenders.

The Project will generate 604GWh of electricity annually for the next 15 years under PPA.