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Local power generation players’ overseas operations productive

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Operations in Bangladesh and Uganda are distinguished in the composition of income streams of local players, which accounts for a sizable portion in respect of foreign income. Pakistan and Ukraine also generate a noteworthy contribution while Nepal will also expect to join the pack in the coming years.

Based on the key selection criteria of total installed capacity, level of foreign income generation and the disclosed pipeline project capacities, LVL Energy Fund (LVEF) and Windforce PLC (WIND) appear to be lucrative among the sector. LVEF possesses pipeline projects in local as well as overseas markets which are expected to be commissioned during the FY22E period. The major project is the upcoming hydro project in Nepal with an installed capacity of 10MW, anticipated to be commissioned by 4QFY22.

It has also ventured into the solar power segment via successfully commissioning its first solar project with a capacity of 1MW in 1QFY22 in the Matugama while having additional 5MW projects in the pipeline with 2MW in Pallekele, Kandy and 3MW in Mano, Kurunegala which are expected to be commissioned by 3QFY22.

The company has currently positioned itself in Bangladesh and Nepal with further planned intentions to reach out to other potentially sound markets such as Africa and Southeast Asia. WIND’s two new projects 30MW solar plant in Senegal and 15 MW wind plant in Mannar are in the process while the Mannar plant is expected to contribute to the revenue from FY23E onwards although the project in Senegal is still in the preliminary stage.

WIND is also in the process of implementing further two new projects; namely solar universe which is a 10MW project that will be located in Batticaloa and is expected to add to the grid by February. 2022. The second project is an 11.5MW waste to energy project with an investment of Rs 12.5 billion. Vidullanka PLC (VLL) constructs, operates 10 mini hydropower projects and has steadily grown, and its current capacity stands at 36.2 MW with a total energy supply. It also commenced two foreign power projects in Uganda in 2017.

Bangladesh is one of Asia’s emerging economies with a growing need for power and energy. The existing power generation capacity of 21,000 MW is projected to reach 30,000 MW by 2030 and 57,000 MW by 2041. Africa has more than enough un-utilised renewable energy resources with the potential to generate more than 1,000 times larger than its projected demand for electricity in 2040.

Asia as a region has a target of integrating 23% renewable energy by 2025.

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