(Hong Kong, 20 January 2016) Boer Power Holdings Limited (“Boer Power” or the “Group”, Stock Code: 1685.HK), a leading solutions provider for intelligent electrical distribution systems and energy efficiency management in China, is pleased to announceBoer Power entered into a supply agreement with China National Technical Import and Export Corporation (“CNTIC”) forsupplying low voltage switchgears to CNTIC’s 300 – 450 MW gas based combined cycle power plant project (the “Project”) in Bangladesh.
Bangladesh has the highest population density in the world with lowest per capita energy consumption. Onlyapproximately 50% of the population have access to electricity. The Bangladesh government is sparing no effort to improvetheir capabilities of power generation, transmission and distribution with the goal of enhancing the installed electric generation capacity to 17,765MW by 2020.
The Project, located atGhorashal,about 40 kilometres northwest of Dhaka, the capital city of Bangladesh, was set up by Bangladesh Power Development Board. Through using both a gas and a steam turbine to produce electricity, the combined cycle power plant is expected to realize high-efficiency power generation with total guaranteed 300 - 450 MW capacity.
Mr. Qian Yixiang, Chairman and CEO of Boer Power, said,“There is a largt gap between consumption and generation of electricity in Bangladesh.Boer Power provides low voltage switchgears to CNTIC’s new poject. We believe this collaboration will laya solid foundation for rapid expansion of our business in the electricity market in Bangladesh.Furthermore, we believe this collaboration will bring Boer plenty of beneficial opportunities in the expansion of overseas business marketson the back of CNTIC’s abundant resources ininternational engineering construction projects.Regarding to high efficiencies and low emissions ofcombined cycle technology, more and more combined cycle power plantsare expected to be launched in the future. The collaboration enable us to accumulate more experience which are favourable for Boer Power to participate in the construction of more international gas based combined cycle power plant projects.”