Unique Meghnaghat LNG Power Plant: Building on Fabricated Causes and Draining Bangladesh's Economy

14 December 2022
-----------------------

Published by
Bangladesh Working Group on External Debt (BWGED), CLEAN (Coastal Livelihood and Environmental Action Network), NGO Forum on ADB and Recourse

See the full report here

Summary

The Unique Meghnaghat 584 Megawatt (MW) liquefied natural gas (LNG)-based power plant is being developed by Unique Meghnaghat Power Limited (UMPL), a Special Purpose Vehicle (SPV) of Unique Hotel and Resorts Limited (UHRL), GE Capital Global Energy Investments, Nebras Power Investment Management, and Strategic Finance Limited (SFL). The power plant is situated in Dudhghata, Korbanpur, and Chanderchak villages on the right bank of the Meghna River in Pirojpur Union under Sonargaon Upazila in Narayanganj District of Bangladesh.

After obtaining approval from the Cabinet Committee on 30 May 2018, UMPL signed a Power Purchase Agreement (PPA) with Bangladesh Power Development Board (BPDB) on 24 July 2019 for 22 years of operation from the Commercial Operation Date (COD). Titas Gas Transmission and Distribution Company Limited (TGTDCL) signed another agreement on the same date to supply 96.192 million cubic feet (mmscf) of Domestic Fossil Gas (DFG) or LNG per day.

The initial budget of the project was BDT 4,368 crore (USD 515.7 million), of which BDT 3,276 crore (USD 386.8 million) loan was provided by four state-owned banks led by Agrani Bank Limited. The budget was recalculated as USD 503 million (BDT 4,225.2 crore) in March 2022. The budget was again recalculated as USD 613 million (BDT 6,320 crore) in November 2022. UMPL has not given any explanation for additional expenditure. Standard Chartered Bank (SCB) has been appointed as the Financial Advisor for the project.

In March 2022, UMPL applied for an additional loan of USD 30 million (BDT 285.33 crore) from the Infrastructure Development Company Limited (IDCOL), which is financed by the Asian Infrastructure Investment Bank (AIIB). AIIB included the project in its pipeline in February 2022 for another loan of USD 75 million (BDT 773.25 crore). The amount increased to USD 110 million on 30 November 2022. The project is scheduled to be approved in December 2022 with financing expected to start in the first quarter of 2023.

Key Findings

  • The current capacity of the power sector of Bangladesh is 22,512 MW. On the day so far this year with the highest demand for electricity was 14,782 MW (16 April 2022), which means 7,730 MW, or 34.3% of the capacity was kept idle in 2022. This power plant will thus contribute to increasing the existing massive margin of overcapacity;
  • The current demand for fossil gas in the power sector is 2,197 million cubic feet per day (mmscfd) while Petrobangla is capable of supplying 964.9 mmscfd on average, which is 44% of the demand. Petrobangla is not in a position to supply the additional demand of 96.192 mmscfd of fossil gas for the project. o, the power plant can only be expected to end up as another stranded asset, and the Bangladesh Government will have to pay an additional capacity charge for the project;
  • The current price of DFG for the power sector is BDT 4.45 per cubic meter, while the price of LNG is BDT 27.08 per cubic meter. Meanwhile, the generation cost of electricity from the Unique Meghnaghat Power Plant will be at least BDT 19.10 (USD 0.21) per unit while the latest agreement for solar power was signed at a rate of BDT 6.37 (USD 0.07). In addition, the lack of fuel and the exorbitant fuel rates will create uncertainty about the cost and power supply of this power plant;
  • The power plant could take BDT 905.64 crore (USD 87.84 million) as capacity charge annually and BDT 43,024.92 crore (USD 1.93 billion in the variable exchange rate) in its lifetime. To compare, the Government could build one more Bangabandhu Karnaphuli River Tunnel or another Dhaka Metro Rail with this amount of money;
  • The power plant will consume 6.875 cubic feet (cft) of gas to generate each unit (kWh) of electricity, which is the highest among the largest gas power plants and 61% higher than the Bibiyana-III combined cycle power plant. As a result, the power plant will emit 2-3 million tonnes of CO2e annually and 47-66 million tonnes in its lifetime which will put Bangladesh in serious carbon lock against the Paris Agreement goals;
  • According to the UMPL, the power plant is built on 21.07 acres of land taken from 343 landowners and 7 residents. But the total land taken by the power plant is at least 27.95 acres. It means at least 6.88 acres (32.7%) of land is taken illegally. Out of the land area, at least 3.41 acres are taken from the Meghna river;
  • The local landowners were cheated by the sponsors and lost at least BDT 96.22 crore (USD 11.24 million). They were compelled to leave their land by taking an average rate of BDT 4.58 lakh (USD 5,354.11) per decimal while the power plant bought the land from sponsors at a rate of BDT 9.15 lakh (USD 10,686.76) per decimal;
  • The project would undermine Bangladesh’s national agenda to shift towards 100% renewable energy (RE) by 2050 under the Mujib Climate Prosperity Plan (MCPP), acting as a clear barrier to this achievement given its technical lifespan will overshoot this timeline.

Key Demands

  1. Considering the environmental, social, and economic impact of the project, the AIIB must withdraw Unique Meghnaghat Independent Power Plant (Meghnaghat IPP) urgently from the proposed list of AIIB projects and decline on-lending to IDCOL for this project as part of its already approved loan to the IDCOL Multi-Sector On-Lending Facility;
  2. Focus further energy sector financing for Bangladesh on developing decentralized RE so that the country can achieve 100% RE by 2050, as per its own Mujib Climate Prosperity Plan (MCPP);
  3. Exclude funding for all fossil fuel projects, including gas projects, from AIIB’s Paris alignment methodology;
  4. Reevaluate the actual scenario of overcapacity, availability of fuels, the burden of the capacity charge, emission, and potential of RE in Bangladesh; and
  5. Publicly clarify whether the project is being considered for fast-tracking via provisions of the Accountability Framework of the Bank.

See the full report here

Energy Data Management: Challenges in Bangladesh

12 December 2022

Download the full report here
Find the Press Release here


Accurate data is critically important for instant decision-making, trend projections, and future planning in the energy sector. It is a key element that forecasts capital expenditures, balances demand and supply management, and assesses generation capacity. It also assists with the analysis of transmission & distribution, and pollution control measures and provides the factual basis for effective communication. Historical data on solar irradiation, wind speed, and velocity of water flow is obligatory to assess and predict the potential of renewable energy also. This baseline data is also the key prerequisite for designing upstream, midstream, and downstream services to meet current demands and project future requirements.

Several agencies under the Bangladesh Ministry of Energy, Power and Mineral Resources (MOPEMR) are responsible for accumulating, analyzing, and disseminating energy data. An assessment of available data from these agencies found missing data, errors, and conflicting information. MOPEMR is the key governing agency of the energy sector in Bangladesh. The Energy and Mineral Resource Division (EMRD) is responsible for supplying primary energy data such as coal, fossil gas, and petroleum while the Power Division is responsible for secondary energy such as electricity. Petrobangla deals with the production, transmission, and distribution of domestic energy resources, particularly coal and gas through its subsidiary companies.

There are 1,013 cases found where more electricity is being generated than the capacity to generate the power. In the most extreme cases, the power generation to power capacity mismatch was more than 200%. BPDB (2020-21) stated that 80,423 gWh (million units) of electricity was generated, while grid-connected power plants generated 80,294.75 million units. However, BPDB never mentioned the source of the additional 128.25 million units of electricity.

BPDB Monthly Progress Report of July 2022 showed the total generation capacity of grid-connected power plants was 22,482 MW, while the Daily Generation Report on 30 June 2022 shows the total capacity was 21,396 MW. This is 1,086 MW less than the amount mentioned in the Progress Report. Meanwhile, the Power Division reports that the total installed capacity of the country is 25,700 MW including off-grid and captive power plants. Meaning there are major inconsistencies in data within the entities.

The published renewable energy data highlights several inconsistencies in the amount of actual installed power production capacity. If the installed capacity of off-grid renewable energy is 359.24 MW as the Sustainable and Renewable Energy Development Authority (SREDA) reported, plus another 3,184 MW from captive power plants as reported by ADB Institute and 249.15 MW (BPDB reported as 253 MW) according to BREB Annual Report, the total installed capacity could be 25,188.39 MW to 26,278.24 MW respectively. The inconsistencies in the amount of actual installed power production capacity reported by these agencies indicate that there is no reliable, verified capacity baseline.

Fossil gas contributes to 61% of the primary energy mix in Bangladesh. Hence, the accuracy of data on fossil gas is much more important than any other sub-sectors of energy. Petrobangla is mandated to collect, compile, analyze and publish respective information on the production, import, and distribution of petroleum and mineral resources including Domestic Fossil Gas (DFG) and Liquefied Natural Gas (LNG). However, no data on petroleum is available on the website of Petrobangla. In reality, none of the agencies provide real-time data on coal, Heavy Fuel Oil (HFO), and High-Speed Diesel (HSD).

Petrobangla listed 71 DFG-based power plants with an installed capacity of 12,734 MW. However, this list excludes power plants such as Ashulia 11 MW Power Plant, Chandina 11 MW DFG Power Plant, etc. although, according to the Daily Generation Report of BPDB and PGCB, these power plants are generating electricity regularly.

Ensuring transparency, and integrity in energy sector data collection, compilation, and dissemination, investing in financial implications of erroneous or manipulated data, including the private sector in updating reports is critically important. We further recommend establishing automated software-based data management systems, delaying the formulation of the Integrated Energy and Power Master Plan to ensure effectiveness based on updated energy and economics data.

Download the full report here
Find the Press Release here

Challenges in Energy Data Management in Bangladesh: Media Release

12 December 2022
-----------------------------

Energy Data Mismanagement may increase the Current Electricity Crisis in Bangladesh: Unreliable and inconsistent data signals disaster for the long-term energy plans
Challenges in Energy Data Management in Bangladesh: Unreliable and inconsistent data signals disaster for the long-term energy plans


[12 December 2022, Dhaka] The recently published report on “Energy Data Management Challenges in Bangladesh'' by the Bangladesh Working Group on External Debt (BWGED) highlights the several agencies under the Ministry of Energy, Power and Mineral Resources (MOPEMR) responsible for disseminating misleading energy data. The report assesses available energy data from these agencies to find missing, erroneous, and inconsistent datasets. This conflicting data from different agencies under the same Ministry is misleading information for planners to use reliably to make future energy plans.

MOPEMR is the key governing agency of the energy sector in Bangladesh. The Energy and Mineral Resource Division (EMRD) is responsible for supplying primary energy data such as coal, fossil gas, and petroleum while the Power Division is responsible for secondary energy such as electricity. Petrobangla deals with the production, transmission, and distribution of domestic energy resources, particularly coal and gas through its subsidiary companies.

The report also emphasized that the recent electricity blackouts and grid failures are one of the signs that the foundation of accurate baseline energy information has been off for a long time in Bangladesh. Moreover, there are also severe concerns about credible governments or other entities reviewing and auditing the data for accuracy, transparency, and integrity along with erroneous data management.

The report found 1,013 cases of more electricity being generated than the capacity to generate the power. In the most extreme cases, the power generation to power capacity mismatch was more than 200%. BPDB (2020-21) stated that 80,423 gWh (million units) of electricity was generated, while grid-connected power plants generated 80,294.75 million units. However, BPDB never mentioned the source of the additional 128.25 million units of electricity.

The report shows, government entities often underreport the generation capacity of power plants compared to their actual capacities. The report highlights that the BPDB Monthly Progress Report of July 2022 showed the total generation capacity of grid-connected power plants was 22,482 MW, while the Daily Generation Report on 30 June 2022 shows the total capacity was 21,396 MW. This is 1,086 MW less than the amount mentioned in the Progress Report. Meanwhile, the Power Division reports that the total installed capacity of the country is 25,700 MW including off-grid and captive power plants. Meaning there are major inconsistencies in data within the entities.

The report further analyzes the published renewable energy data to highlight several inconsistencies in the amount of actual installed power production capacity. If the installed capacity of off-grid renewable energy is 359.24 MW as the Sustainable and Renewable Energy Development Authority (SREDA) reported, plus another 3,184 MW from captive power plants as reported by ADB Institute and 249.15 MW (BPDB reported as 253 MW) according to BREB Annual Report, the total installed capacity could be 25,188.39 MW to 26,278.24 MW respectively. The inconsistencies in the amount of actual installed power production capacity reported by these agencies indicate that there is no reliable, verified capacity baseline.

Moreover, the data management system has no mechanisms to calculate the generation from captive, commercial, and off-grid solar and hydroelectric power plants and hence is excluded from the national power generation records. This means that the power system utilization could be much lower than 40%, causing economic harm.

The report highlights that fossil gas contributes to 61% in the primary energy mix in Bangladesh. Hence, the accuracy of data on fossil gas is much more important than any other sub-sectors of energy. Petrobangla is mandated to collect, compile, analyze and publish respective information on the production, import, and distribution of petroleum and mineral resources including Domestic Fossil Gas (DFG) and Liquefied Natural Gas (LNG). However, no data on petroleum is available on the website of Petrobangla. In reality, none of the agencies provide real-time data on coal, Heavy Fuel Oil (HFO), and High-Speed Diesel (HSD).

Moreover, the report notes that Petrobangla listed 71 DFG-based power plants with an installed capacity of 12,734 MW. However, this list excludes power plants such as Ashulia 11 MW Power Plant, Chandina 11 MW DFG Power Plant, etc. although, according to the Daily Generation Report of BPDB and PGCB, these power plants are generating electricity regularly. Moreover, the list is not updated as retired power plants are not deleted from the database which makes it an even more unreliable source for future forecasting, preventing planners from making effective energy plans based on credible data.

The report recommends ensuring transparency, and integrity in energy sector data collection, compilation, and dissemination, investing in financial implications of erroneous or manipulated data, including the private sector in updating reports. The report further recommends establishing automated software-based data management systems, delaying the formulation of the Integrated Energy and Power Master Plan to ensure effectiveness based on updated energy and economics data.

The report is available in the link.

LNG Power Plants in Bangladesh


The Government of Bangladesh (GOB) planned to install 18 LNG based power plants with a capacity of 10,530 MW by 2030 in which 2,685 MW are at under construction stage now, 2,760 MW is approved and currently at pre-construction stage, 1475 MW is at pre-approval or proposed stage and 2410 MW is at the planning stage while 1200 MW has been shelved by the sponsor. 

Under Construction

  1. Meghnaghat 583 MW (Summit) LNG Power Plant. Gross Capacity: 589.75 MW. Sponsored by Summit Meghnaghat II Power Limited (SMIIPL), a JVC of Summit Group (53.9%), General Electric: (30%) and JERA (16.1%). Situated at Meghnaghat Island in Narayanganj District. EPC Contractor: General Electric (GE). Expected COD: March 2023
  2. Meghnaghat 584 MW (Unique) LNG Power Plant. Gross Capacity: 600 MW. Sponsored by Unique Meghnaghat Power Limited (UMPL), a JVC of Unique Group (50.1%), General Electric: (20%), Nebras Power (24%) and Strategic Finance & Investments Limited (5.9%). Situated at Dudhghata under Sonargaon Upazila in Narayanganj District. EPC Contractor: General Electric (GE). Expected COD: July 2023
  3. Meghnaghat 718 MW (Reliance) LNG Power Plant. Gross Capacity: 750 MW. Sponsored by Reliance Bangladesh LNG & Power Limited (RBLP), a JVC of Reliance Power Limited (51%) and JERA (49%). Situated at Meghnaghat Island in Narayanganj District: EPC Contractor: Samsung C&T. Expected COD: March 2023
  4. Rupsha 800 MW (NWPGCL) LNG Power Plant. Gross Capacity: 880 MW. Sponsored by North-West Power Generation Company Limited (NWPGCL), an SOE under BPDB. EPC Contractor: Shanghai Electric (China) & Ansaldo Energia (Italy). Expected COD: October 2023 (1st Unit) and April 2024 (2nd Unit) 

Pre-construction Stage

  1. Anwara 590 MW (United) LNG Power Plant. Gross Capacity: 600 MW. Sponsored by United Chattogram Power Limited, a JVC of United Group (60%), Kyushu Electric Power Company (20%) and Sojitz Corporation (20%). Expected COD: January 2026
  2. Gazaria 660 MW (EPH-WPL) LNG Power Plant. Gross Capacity: 660 MW. Sponsored by: EPH-WPL Consortium Limited, a JVC of Edra Power Holdings Sendirian Berhad (80%) and Winnievision Power Limited (20%). Expected COD: January 2026
  3. Meghnaghat 450 MW (Anlima) LNG Power Plant. Gross Capacity: 500 MW. Sponsored by Anlima Meghnaghat Power Limited, a JVC of Anlima Group (75%) and General Electric (25%). Expected COD: January 2026
  4. Mirsarai 660 MW (Confidence) LNG Power Plant. Gross Capacity: 660 MW. Sponsored by Confidence Chittagong Power Limited, a JVC of Consortium of Confidence Power Holdings Limited (62%), General Electric (20%), Confidence Power Limited (9%) and Electrapack Industries Limited (9%). Expected COD: June 2027
  5. Raozan 400 MW (BPDB) LNG Power Plant. Gross Capacity: 410 MW. Sponsored by Bangladesh Power Development Board (BPDB). EPC Conractor: SEPCOIII Electric Power Construction Company Limited. Expected COD: December 2025

Pre-approval Stage

  1. Haripur 250 MW (BPDB) LNG Power Plant. Gross Capacity: 250 MW. Proposed by Bangladesh Power Development Board (BPDB). Expected COD: June 2026
  2. Ghorashal 225 MW (BPDB) LNG Power Plant. Gross Capacity: 250 MW. Proposed by Bangladesh Power Development Board (BPDB). Expected COD: June 2027
  3. Mymensingh 400 MW (BRPL) LNG Power Plant. Gross Capacity: 420 MW. Proposed by B-R PowerGen Limited, a JVC of BPDB (50%) and Rural Power Company Limited (50%). Expected COD: June 2027
  4. Matarbari 600 MW (CPGCBL-Mitsui) LNG Power Plant. Gross Capacity: 660 MW. Jointly proposed by Coal Power Generation Company Bangladesh Limited (CPGCBL), an SOE under BPDB, and Mitsui & Company, Japan. Expected COD: June 2028

Planning Stage

  1. Gazaria 600 MW (RPCL) LNG Power Plant. Gross Capacity: 660 MW. Proposed by Rural Power Company Limited, an SOE under Bangladesh Rural Electrification Board (BREB). Expected COD: June 2028
  2. Siddhirganj 600 MW (BPDB) LNG Power Plant. Gross Capacity: 660 MW. Proposed by Bangladesh Power Development Board (BPDB). Expected COD: June 2029
  3. Sonagazi 600 MW (EGCBL) LNG Power Plant. Gross Capacity: 660 MW. Proposed by Electricity Generation Company of Bangladesh Limited (EGCBL), an SOE under BPDB. Expected COD: December 2029
  4. Bheramara 610 MW LNG Power Plant. Gross Capacity: 660 MW. Proposed by Bangladesh Power Development Board (BPDB). Expected COD: December 2030

Shelved

  1. Payra 1200 MW (NWPGCL) LNG Power Plant. Gross Capacity: 1200 MW. Proposed by North-West Power Generation Company Limited (NWPGCL), a SOE under BPDB, and Siemens AG, Germany. Expected COD: June 2026

Adani godda power plant: BPDB to pay Tk 1,219.1cr for power not used

8 June 2022 | Asifur Rahman | The Daily Star 
--------------------------------------------------------- 

If it does not add value, it is a waste, said the seminal American industrialist Henry Ford. And the quote best describes the situation the Bangladesh Power Development Board finds itself in with its deal with India's Adani Power. 


Engineered during Indian Prime Minister Narendra Modi's maiden visit to Bangladesh in 2015, Adani Power has set up a 1,600MW thermal power in Jharkhand's Godda to supply most of the power generated to BPDB through a dedicated transmission line. 

That power plant will be going into generation from August but its transmission would not be ready until December at least, meaning the power would be going to waste. 

And yet, BPDB would have to pay $141.1 million, or Tk 1,219.1 crore, in capacity charge for the four months to December, according to the report "Adani Godda Coal Power Plant: An Achilles Heel of the Power Sector of Bangladesh". 

Capacity charge is a penalty paid to the plant owner for failure to buy a certain portion of power readily available. 

As per the agreement signed in 2017, Adani Power would supply 1,496 MW of electricity for 25 years from December 2021. 

Because of the pandemic, the Adani Group subsidiary pushed the start date by six months. The power plant is all set to start commercial operation in August. 

But the Power Grid Company of Bangladesh (PGCB) said more time is needed to get the infrastructure ready to import electricity. It will take at least December this year. 

As per the agreement, Adani Power would install a dedicated 106 kilometres long 400 kV transmission line from Godda to the interconnection point. 

To relay the power from the point, PGCB took up a Tk 225.2 crore project to construct a 28 km transmission line from the Indo-Bangla border to the Rohanpur substation in Bangladesh. 

The substation is yet to be built as the materials have not arrived, Md. Mizanur Rahman Sarkar, project director of the transmission line, told The Daily Star. 

"We will be able to import power from about 800 MW in the early months of the next year," he said. 

BPDB has agreed to pay the Adani Godda power plant Tk 3.26 as the capacity charge per unit. For similar plants in Bangladesh, the capacity charge is Tk 2.83. 

Nasrul Hamid, the state minister for power, energy and mineral resources, is not sure yet whether BPDB would have to pay the capacity charge for the four months that power is not imported from Adani Power, which is founded by Gautam Adani, the world's fifth richest person. 

"But had we built it by ourselves and did not use the power, we would still have to make the capacity payment." 

The government policy of 'no electricity, no payment' is not applicable for such large-scale independent power producers, he told The Daily Star. 

"If we apply it, no one will agree to build a plant. Adani will invest and we have to pay a minimum return to them. If we don't take electricity, they will be in trouble," Hamid added. 

To offtake electricity from the Godda coal power plant, BPDB would be doing away with its usual 'merit order dispatch' method and go with the 'priority-based dispatch'. 

Under the 'merit order dispatch' method, the power plants supplying cheaper electricity are given the first opportunity to generate. 

But under the 'priority-based dispatch' method, the imported power will be transmitted first keeping the domestic power plants idle even if those generate electricity at a cheaper rate. 

So the power from Adani Godda will be 56.2 percent more expensive than other imported power, 36.9 percent more than imported coal power and 4.3 percent more than domestic coal power, according to the study by the Bangladesh Working Group on the External Debt and India-based Growthwatch. 

Bangladesh will have to pay more than Tk 1 lakh crore to the Adani coal power plant as a capacity charge over the 25-year lifetime of the agreement, which is equal to enough to build three Padma bridges, said the study published on Monday. 

In the worst-case scenario, BPDB will have to pay $423.3 million (Tk 3,657.2 crore), in capacity charges annually, and $11.01 billion (Tk 108,360.6 crore) over the plant's 25 years operational lifetime. 

The Padma bridge was built for $3.87 billion, the Dhaka metro rail for $2.59 billion and the Karnaphuli river tunnel for $1.22 billion, the report added. 

In the best-case scenario, the annual capacity charges payable to the Adani Godda power plant would be $331.66 million (Tk 2,865.55 crore), while the lifetime capacity charges would reach $8.62 billion (Tk 84,903.7 crore). 

Adani Power will have its investment returned in a maximum of six years and a minimum of 4.67 years, according to the report. 

"Capacity charge will depend on the availability of the power plant. If the power plant runs with 85 percent plant load factor (PLF), it will be the highest scenario and the power plant may drop its PLF at 53 percent, which is the lowest average in India," said Hasan Mehedi, one of the authors of the report. 

Upcoming Adani plant in Jharkhand to sell power to Bangladesh, will make its economy suffer: Report

7 June 2022 | Zumbish | DownToEarth
------------------------------------------------- 

The report also alleged the Adani Group forcibly acquired the land to build the plant from local farmers, without payment of proper compensation 

Photo: Twitter Handle of Gautam Adani

The Adani Godda ultra-supercritical coal power plant being built in Jharkhand’s Godda district by the Adani Group will sell its power to Bangladesh. But a new Indo-Bangladesh report accessed by Down To Earth has claimed that Bangladesh’s economy will suffer in the process, even as Adani will get richer. 

The report also alleged the Adani Group forcibly acquired the land to build the plant from local farmers, without payment of proper compensation. 

The report was published June 7, 2022 by the Bangladesh Working Group on External Debt (BWGED) — a forum of activists and India-based Growthwatch, a voluntary research and advocacy institution that protects natural resources from being grabbed by powerful groups. 

The report stated that Bangladesh Power Development Board (BPDB) signed an agreement with the Adani Group in November 2017 to offtake 1,496 megawatt power from Godda Coal Power Plant under a cross-border electricity trade arrangement. 

The BPDB agreed to pay 3.26 Bangladeshi taka (Rs 2.72) per kilowatt hour as capacity charge, which is higher than any other power plant in Bangladesh. 

“The Power Development Board will have to pay Tk 3,657.23 crore (approximately Rs 3,053.79 crore) in capacity charges annually and Tk 108,360.60 crore (Rs 90,470.265 crore) over the plant’s 25 years operational lifetime”. 

This, the report states, will thus make more money for Adani without benefitting Bangladesh citizens. 

The capacity charge is more than enough to build three bridges over the Padma river in Bangladesh or nine Karnaphuli river tunnels or four metro railways in Dhaka, the report stated. 

According to the report, the Padma Bridge was built at a cost of Rs 3,00,84,56,73,000 while the construction of metro railways in Dhaka cost Rs 2,01,34,11,61,000 and the Karnaphuli River tunnel cost Rs 94,83,15,15,000. 

Moreover, according to the report, in the best scenario, the annual capacity charges payable to the Adani Godda power plant would stand at Tk 2,865.55 crore (Rs 2,392.16 crore), while the lifetime capacity charges would reach Tk 84,903.72 crore (Rs 70,877.62 crore). 

“Since Bangladesh doesn’t need any more power, the amount spent will only benefit the Adani Group, not the people of Bangladesh,” Hasan Mehedi, member secretary of BWGED and one of the authors of the report, was quoted as saying. 

“So, the people and the Bangladesh economy particularly, will have to suffer for the luxury of a billionaire company who is getting richer every year,” Mehedi added. 

The coal-fired Adani Godda plant being built in Jharkhand may be commissioned in August. However, the transmission line required by Bangladesh in order to import power from the Indo-Bangla border is likely to not be ready by December. 

“BPDB will have to pay Tk 1,219.10 crore (Rs 1,017.70 crore) in capacity charges for the waiting period of four months even though no power will make its way to Bangladesh,” the report said. 

The report noted that the power plant may emit 221.1 million tonnes (MT) of carbon dioxide in its lifetime, with an average emission of 9.35 MT annually. 

“India is the third-largest country in the world which is committed to achieve net zero by 2070, instead of 2050. The position is highly criticised by the global community. This power plant will only help to establish India as a climate denier,” it said. 

The environmental and social cost of the emissions of hazardous air pollutants and carbon dioxide will be Rs 5,569.34 crore per year and Rs 188,708.29 crore over the plant’s lifetime. 

The report went on to recommend that in the light of the statements made during the 26th Conference of Parties to the United Nations Framework Convention on Climate Change in Glasgow, both Delhi and Dhaka should explore ways of annulling the existing bilateral agreement and replacing an agreement in line with the 2015 Paris Agreement and 2021 Glasgow commitments. 

“Both of the governments should cancel the Power Purchase Agreement and create a flexible supply regime for Renewable Energy (RE). Since it involves commercial agreements, a joint committee can be formed to resolve any issues arising out of the change,” it said. 

Kazi Maruful Islam, convener of BWGED and professor of the development studies department in the University of Dhaka, was quoted as saying, “Considering the energy security, Russia-Ukraine war and global economic crisis, there is no other way than cancelling these types of agreements and building a renewable energy based electricity system in Bangladesh.” 

Bangladesh will pay enough to build 3 Padma bridges as capacity payment to Adani

7 June 2022 | Eyamin Sajid | The Business Standard 
------------------------------------------------------------------ 

Three Padma Bridges, nine Karnaphuli River Tunnels or four metro rails: that is how many mega infrastructures Bangladesh can build with the money it is paying to the Indian Adani Group as capacity payment under a power purchase agreement (PPA). 


Bangladesh will pay around $11.01 billion for importing 1,496 megawatts (MW) of electricity from Adani Godda 1,600 MW Thermal Power Plant over its 25 years of lifetime revealed a report co-published by the Bangladesh Working Group on External Debt (BWGED) and Indian Growthwatch. 

"The amount for the capacity charge is nine times higher than the budget of Karnaphuli River Tunnel and more than four times than the Dhaka Metro Rail," said Hasan Mehedi, an author of the report and member secretary of the BWGED. 

Since 2010-2011, Bangladesh Power Development Board (BPDB) has paid around $8.54 billion as capacity charges to independent power producers (IIPs) and rental and quick rental power plants owners. 

"This power plant will be a huge burden on the Bangladesh economy. It doesn't make any sense to import coal power from India when Bangladesh is experiencing around 60% overcapacity now," Mehedi said. 

On 2 June, at a citizen discussion held at the National Press Club, State Minister of Power Energy and Mineral Resources Nasrul Hamid, however, claimed that the country does not have overcapacity in electricity. 

He said apart from captive power, the total installed capacity of power is around 21,000MW. But the capacity stands at 16,000 MW to 17,000MW if 10% for derated capacity and 10% for scheduled maintenance is excluded, whereas the current demand is around 14000MW. 

Instead, we see capacity shortage if we consider 20% standby reserve margin. 

The BPDB signed an agreement with Adani Group in November 2017 to offtake 1,496 MW power from its Godda Coal Power Plant under the cross-border electricity trade arrangement. 

As per the agreement, the BPDB agreed to pay $0.038 or Tk3.26 per (kilowatt hour) kWh as capacity charge, higher than any other power plant in Bangladesh. 

As per the report estimates, the cost of electricity from the Godda power plant will be at least tk9.09 per kWh, which is 56% higher than other imported electricity and 196% higher than solar power in India. 

According to the BWGED and Growthwatch's report, the Adani Group may take $423.29 million as capacity charge per year, but the money will not benefit the Bangladeshi people. 

In addition to that, the cost of electricity from the Godda Adani Group will increase by 5.5% per year, while the cost of solar power will be decreasing at a yearly rate of 10%. 

At present, Bangladesh imports 1,160MW electricity from India through cross-border electricity trade agreements. 

The first unit of 1600 MW is scheduled to start commercial operation by this July while the second unit will come online by December this year. 

But the corresponding transmission line from Indo-Bangla border to Bangladeshi national grid has not been prepared yet. 

Sources at the BPDB said that Bangladesh won't be able to receive the electricity until December this year. 

Even if the transmission line were built by December 2022 according to the plan, Bangladesh will have to pay $141.10 million of capacity charges in four months only. 

Md Mizanur Rahman Sarkar, project director at Rahanpur to Monakasha Border 400kV Transmission Line, told The Business Standard, "The physical work of the Bangladesh part of the project is almost completed. But transmission line in the Indian side has yet not been completed." 

Sarkar, however, said that the power evacuation would be started within five to six months. 

For evacuating electricity from the plant, 134 km (30km in Bangladesh side and 104km in Indian side) transmission line construction project was taken by both countries. 

২৫ বছরে ক্যাপাসিটি চার্জ লাগবে এক লাখ আট হাজার কোটি টাকা : আদানির বিদ্যুৎ ক্রয়

8 June 2022 | ইসমাইল আলী | The Share Biz
------------------------------------------------------- 

ভারতের আদানি গ্রুপের গড্ডা কয়লা বিদ্যুৎকেন্দ্র থেকে ২৫ বছর বিদ্যুৎ কিনবে বাংলাদেশ। এ সময়ে শুধু ক্যাপাসিটি চার্জ হিসেবে বাংলাদেশ সরকারকে গুনতে হবে এক লাখ আট হাজার ৩৬১ কোটি টাকা (১১.০১ বিলিয়ন ডলার)। এ অর্থ দিয়ে কমপক্ষে তিনটি পদ্মা সেতু নির্মাণ করা সম্ভব। ‘আদানি গড্ডা কোল পাওয়ার প্ল্যান্ট: অ্যান অ্যাকিলিস হিল অব দ্য পাওয়ার সেক্টর অব বাংলাদেশ’ শীর্ষক প্রতিবেদনে এ তথ্য উঠে এসেছে।

বাংলাদেশের বৈদেশিক দেনা-বিষয়ক কর্মজোট (বিডব্লিউজিইডি) ও ভারতীয় গ্রোথওয়াচ যৌথভাবে প্রতিবেদনটি প্রণয়ন করেছে, যা গতকাল প্রকাশ করা হয়। প্রতিবেদনের অন্যতম লেখক ও বিডব্লিউজিইডি’র সদস্য সচিব হাসান মেহেদী বলেন, আদানিকে ২৫ বছরে যে ক্যাপাসিটি চার্জ দেয়া হবে তার পরিমাণ কর্ণফুলী টানেলের মোট বাজেটের ৯ গুণ এবং ঢাকা মেট্রোরেল প্রকল্পের চারগুণেরও বেশি। 

প্রতিবেদনে বলা হয়, আদানি গ্রুপ প্রতি বছর কমপক্ষে তিন হাজার ৬৫৭ কোটি টাকা (৪২.৩৩ কোটি ডলার) ক্যাপাসিটি চার্জ হিসেবে নিয়ে যাবে, যা বাংলাদেশের জনগণের উপকার না করে বরং আদানি গ্রুপকে আরও ধনী হওয়ার সুযোগ করে দেবে। 

প্রকল্পটির হালনাগাদকৃত অগ্রগতি প্রতিবেদন অনুসারে, বিদ্যুৎকেন্দ্রটি আগামী আগস্টে আদানির কেন্দ্রটি উৎপাদন শুরু করবে। যদিও সঞ্চালন লাইন না হওয়ায় এখনই কেন্দ্রটি থেকে বাংলাদেশে বিদ্যুৎ সরবরাহ করা সম্ভব হবে না। আগামী ডিসেম্বরে বিদ্যুৎ সঞ্চালন লাইন নির্মাণ সম্পন্ন হলেও আগস্ট থেকে ডিসেম্বর পর্যন্ত চার মাসে এক ইউনিট বিদ্যুৎ না কিনেও এক হাজার ২১৯ কোটি টাকা ক্যাপাসিটি চার্জ দিতে হবে বাংলাদেশকে।

প্রতিবেদনের প্রাক্কলন অনুযায়ী, আদানি পাওয়ারের এ বিদ্যুৎকেন্দ্র থেকে আমদানিকৃত প্রতি ইউনিট বিদ্যুতের দাম পড়বে বর্তমানে কমপক্ষে ৯ টাকা ৯ পয়সা, যা বর্তমানে আমদানিকৃত বিদ্যুতের তুলনায় ৫৬ শতাংশ বেশি এবং ভারতের সৌরবিদ্যুতের উৎপাদন ব্যয়ের তুলনায় ১৯৬ শতাংশ বেশি। 

এ ছাড়া আদানি গ্রুপের গড্ডা কয়লা বিদ্যুৎকেন্দ্র থেকে আমদানিকৃত বিদ্যুতের দাম প্রতি বছর কমপক্ষে ৫ দশমিক ৫০ শতাংশ হারে বাড়বে। এতে ২০৪৭ সালে আদানির প্রতি ইউনিট বিদ্যুতের দাম বেড়ে দাঁড়াবে ৩৬ টাকা ৪১ পয়সা। যদিও দেশে ও প্রতিবেশী দেশ ভারতে উৎপাদিত সৌরবিদ্যুতের দাম প্রতি বছর ১০ শতাংশ হারে কমছে। 

হাসান মেহেদী বলেন, ‘এ বিদ্যুৎকেন্দ্র বাংলাদেশের অর্থনীতির উপর মারাত্মক চাপ তৈরি করবে। বাংলাদেশের অতিসক্ষমতার মাত্রা ৬০ শতাংশ ছাড়িয়ে যাওয়ার পরও ভারত থেকে অতি-খরুচে বিদ্যুৎ আমদানির কোনো যৌক্তিকতা নেই।’ 

প্রতিবেদনটির তথ্য অনুযায়ী, গড্ডা কয়লা-বিদ্যুৎকেন্দ্র থেকে নির্গত ক্ষতিকর কার্বনের পরিবেশগত ও সামাজিক ক্ষতির (স্বাস্থ্যসেবা, কৃষি ও মৎস্য) পরিমাণ বছরে পাঁচ হাজার ৫৬৯ কোটি ভারতীয় রুপি (৭২ দশমিক ৯৬ কোটি ডলার)। এতে ২৫ বছরে ক্ষতির পরিমাণ দাঁড়াবে কমপক্ষে এক লাখ ৮৮ হাজার ৭০৮ কোটি ভারতীয় রুপির (২৪ দশমিক ৭২ বিলিয়ন ডলার) সমান। যদিও আদানি পাওয়ার পরিবেশগত ও সামাজিক ক্ষতির কোনো দায়-দায়িত্ব নিচ্ছে না। 

প্রসঙ্গত, আন্তঃসীমান্ত বিদ্যুৎ-বাণিজ্য চুক্তির আওতায় বাংলাদেশ বিদ্যুৎ উন্নয়ন বোর্ড (বিউবো) ২০১৭ সালের নভেম্বরে আদানি গ্রুপের গড্ডা কয়লা বিদ্যুৎকেন্দ্র থেকে এক হাজার ৪৯৬ মেগাওয়াট বিদ্যুৎ কেনার চুক্তি (পিপিএ) করে। পিপিএ অনুসারে, বিউবো প্রতি ইউনিট বিদ্যুতের বিপরীতে আদানি গ্রুপকে তিন টাকা ২৬ পয়সা (০.০৩৮ ডলার) ক্যাপাসিটি চার্জ দেয়ায় সম্মত হয়, যা বাংলাদেশের অন্য যে কোনো বিদ্যুৎকেন্দ্রের চেয়ে ১৬ শতাংশ বেশি। 

সূত্রমতে, চুক্তির পর আদানি গ্রুপ ঝাড়খন্ডের স্থানীয় অধিবাসীদের ইচ্ছার বিরুদ্ধে যথাযথ ক্ষতিপূরণ না দিয়েই এক হাজার ২৫৫ একর জমি অধিগ্রহণ করে। এছাড়া কোম্পানিটির বিরুদ্ধে সন্ত্রাসী ও আইন-শৃঙ্খলা রক্ষাকারী বাহিনী ব্যবহার করে স্থানীয় অধিবাসীদের উচ্ছেদ ও অত্যাচারের অভিযোগ রয়েছে। এ বিদ্যুৎকেন্দ্র থেকে প্রতি বছর ৯৩ দশমিক ৫০ লাখ টন কার্বন নির্গমন হবে, যা ২৫ বছরের মেয়াদকালে ২২ কোটি ১১ লাখ টনে পৌঁছাতে পারে। ভারত বর্তমানে বায়ুদূষণের দিক দিয়ে পৃথিবীর পঞ্চম ও কার্বন নির্গমনের দিক দিয়ে তৃতীয় স্থানে রয়েছে। এ বিদ্যুৎকেন্দ্র দূষণ ও কার্বন নির্গমনের দিক দিয়ে ভারতের অবস্থানকে আরও দুর্বল করবে। 

এদিকে বাংলাদেশ সরকার এককভাবে এ কেন্দ্রটি থেকে বিদ্যুৎ কেনার চুক্তি বাতিল করতে পারবে না। তাই প্যারিস চুক্তি ও গাসগো প্রতিশ্রুতির আলোকে বর্তমান চুক্তি সংশোধন করে ভারত থেকে নবায়নযোগ্য জ্বালানিভিত্তিক বিদ্যুৎ সরবরাহের জন্যে একটি যৌথ কমিটি গঠনের জন্য উভয় দেশের সরকারের কাছে প্রস্তাব করা হয়েছে প্রতিবেদনটিতে। পাশাপাশি গড্ডা বিদ্যুৎকেন্দ্র বন্ধ করার আগ পর্যন্ত প্রতিবেশী দেশ থেকে বিদ্যুৎ আমদানির ক্ষেত্রে ‘নো ইলেকট্রিসিটি নো পেমেন্ট’ বিধান আরোপ ও বিদ্যুৎ আমদানির ক্ষেত্রে কার্বন নির্গমন ও মানবাধিকারের মানমাত্রা নির্ধারণের সুপারিশ করা হয়। 

প্রতিবেদনের অন্যতম লেখক ও গ্রোথওয়াচের সমন্বয়কারী বিদ্যা দিনকর বলেন, ‘মুজিব জলবায়ু সমৃদ্ধি পরিকল্পনা অনুসারে ভারত বা অন্য প্রতিবেশী দেশ থেকে জীবাশ্ম জ্বালানিভিত্তিক বিদ্যুৎ আমদানি বন্ধ করে শুধু নবায়নযোগ্য জ্বালানি আমদানির জন্য বাংলাদেশ সরকারের কঠোর অবস্থান নেয়া উচিত।’ 

পাশাপাশি টেকসই উন্নয়ন লক্ষ্যমাত্রা (এসডিজি) ও মুজিব জলবায়ু সমৃদ্ধি পরিকল্পনার আওতায় আগামী ২০২৫ সালের মধ্যে কমপক্ষে ২৫ শতাংশ এবং ২০৩০ সালের মধ্যে ৩০ শতাংশ বিদ্যুৎ নবায়নযোগ্য উৎস থেকে সরবরাহের জন্য আদানি গ্রুপকে বাধ্য করার জন্য নির্দেশ দিতে বাংলাদেশ সরকারের প্রতি আহ্বান জানানো হয় প্রতিবেদনটিতে। 

বিডাব্লিউজিইডি’র আহ্বায়ক ও ঢাকা বিশ্ববিদ্যালয়ের উন্নয়ন অধ্যয়ন বিভাগের অধ্যাপক ড. কাজী মারুফুল ইসলাম এ প্রসঙ্গে বলেন, ‘বাংলাদেশের জ্বালানি নিরাপত্তা, রাশিয়া-ইউক্রেন যুদ্ধ ও বৈশ্বিক অর্থনৈতিক সংকট বিবেচনায় নিয়ে এ ধরনের চুক্তি বাতিল করে নবায়নযোগ্য জ্বালানিভিত্তিক বিদ্যুৎব্যবস্থা গড়ে তোলার কোনো বিকল্প নেই।’

Adani capacity charge equals to cost of 3 Padma Bridges, says report

7 June 2022 | Emran Hossain | The NewAge 
--------------------------------------------------------- 
The capacity charge Bangladesh is set to pay the 1600MW Adani Godda power plant over its 25 years lifetime is more than enough to build three Padma bridges or nine Karnaphuli River tunnels or four metro railways in Dhaka, revealed a new report released on Monday. 

The report jointly published by the Bangladesh Working Group on the External Debt and India-based Growthwatch estimated the capacity charge owed by Bangladesh to the Indian builder of the power plant in light of the agreement signed between the parties. 

In the worst case scenario, the Power Development Board will have to pay $ 423.29 million or Tk 3,657.23 crore in capacity charges annually, and $ 11.01 billion or Tk 1,08,360.60 crore over the plant’s 25 years operational lifetime, the report said. 

The Padma Bridge was built at a cost of $ 3.87 billion while the construction of metro railways in Dhaka costs $ 2.59 billion and the Karnaphuli River tunnel $ 1.22 billion, the report added. 

In the best case scenario, the annual capacity charges payable to the Adani Godda power plant would stand at $ 331.66 million or Tk 2,865.55 crore while the lifetime capacity charges would reach $ 8.62 billion or Tk 84,903.72 crore. 

The Adani Power Limited, a subsidiary of the India-based Adani Group, will have its investment returned in maximum six years, which may get reduced to 4.67 years in the worst case scenario, according to the report. 

‘Since Bangladesh doesn’t need any more power, the amount spent will only benefit the Adani Group, not the people of Bangladesh,’ said Hasan Mehedi, one of the authors of the report. 

‘So, the people, and the Bangladesh economy particularly, will have to suffer for the luxury of a billionaire company who is getting richer every year,’ added Mehedi, who is also the member secretary of BWGED. 

The coal-fired Adani Godda plant being built in Jharkhand is likely to be commissioned in August but the transmission line Bangladesh needs to import power from the India-Bangladesh border will not be ready by December. 

The PDB would have to pay $ 141.10 million or Tk 1219.10 crore in capacity charge in the four months till December. 

Bangladesh paid over $ 1.55 billion or Tk 13,155 crore in capacity charge in 2020-21 for keeping about 60 per cent of its current generation capacity idle. 

The PDB agreed to pay the Adani Godda power plant Tk 3.26 as capacity charge for per unit of unused electricity, above the capacity charge of Tk 2.83 paid to other similar power plants in Bangladesh. 

The contract with the Adani Godda power plant also obliged the PDB to import electricity first despite the availability of cheaper electricity locally, the report said. 

The PDB is also obliged to pay the price of fuel and Variable Operation and Maintenance cost for generated electricity for the power plant that is importing coal from more than 8,000km away and then transporting it by rail for another 700km to the plant site. 

The PDB will also pay a wheeling charge of Tk 0.29 per unit for the transmission line built for evacuating electricity from the plant to the India-Bangladesh border with a yearly increase rate of 1 per cent, the report said. 

The per unit electricity cost from the power plant may reach Tk 9.09 in 2022 and Tk 36.41 in 2047, which is 56.2 per cent higher than the imported power, 56.5 per cent higher than the domestic solar power and 196.1 per cent higher than the Indian solar power, the report said. 

The report also estimated the environmental and social costs of the emissions of hazardous air pollutants and carbon dioxide from the power plant to be at $ 729.64 million or 5,569.34 crore Indian rupees per year and $ 24.72 billion or 188,708.29 crore Indian rupees over the power plant’s lifetime. 

The power plant will likely emit 229.8 to 288.3 million tonnes of CO2 in its lifetime, the report said. 

The Adani Power Limited acquired 1,255 acres, of which 81 per cent was agricultural land, from local farmers and indigenous Santal communities, displacing 5,339 households. 

The estimated total cost of the Adani Godda power plant is $ 1.98 billion with $ 578 million equity and $ 1.4 billion loan. 

About 14 per cent of the finance is coming from the Adani Group while other financiers included those from the USA. 

SEPCO3, the subsidiary of the state-owned PowerChina, and the US-based global conglomerate, General Electric, is involved in the construction of the plant. 

अडानी गोड्डा पावर प्लांट : जितने पैसे बांग्लादेश को देने हैं, उतने में पद्मा पर तीन पुल बन जाएंगे

प्रेस विज्ञप्ति : 7 जून 2022, मंगलवार 
-----------------------------------------

Download Full Report | Media Release (Bangla | English)

अडानी समूह का गोड्डा कोयला बिजली संयंत्र अपने 25 वर्षों के जीवनकाल में बांग्लादेश से क्षमता शुल्क के रूप में 11.01 अरब अमेरिकी डॉलर (108,360.60 करोड़ टका) लेगा। हाल ही में जारी एक रिपोर्ट में यह बात सामने आई है। 

बांग्लादेश वर्किंग ग्रुप ऑन एक्सटर्नल डेट (बीडब्ल्यूजीईडी) और ग्रोथवॉच द्वारा सह-प्रकाशित इस रिपोर्ट के अनुसार बांग्लादेश क्षमता शुल्क के तौर पर जितने पैसे चुकाएगा, उससे पद्मा नदी पर तीन पुल का निर्माण कर सकता था। 

रिपोर्ट के लेखक और बीडब्ल्यूजीईडी के सदस्य सचिव हसन मेहदी ने कहा, "क्षमता शुल्क की राशि कर्णफुली नदी सुरंग के बजट से नौ गुना और ढाका मेट्रो रेल से चार गुना अधिक है।" 

रिपोर्ट के अनुसार, अडानी समूह प्रति वर्ष क्षमता शुल्क के रूप में 423.29 मिलियन अमेरिकी डॉलर (3,657 करोड़ टका) ले सकता है। इससे बांग्लादेश के लोगों को लाभ हो या न हो लेकिन अडानी समूह काफी पैसे बना लेगा। 

यह बिजली संयंत्र अगस्त 2022 में चालू होना है। हालांकि, बांग्लादेश तब तक बिजली प्राप्त करने में सक्षम नहीं होगा जब तक कि एक सक्रिय ट्रांसमिशन लाइन स्थापित नहीं किया जाता है। 

दिसंबर 2022 तक ट्रांसमिशन लाइन बनाने की योजना है। बांग्लादेश को केवल चार महीनों में क्षमता शुल्क के तौर पर 141.10 मिलियन अमेरिकी डॉलर (बीडीटी 1,219.10 करोड़) का भुगतान करना होगा। 

रिपोर्ट के अनुमान के अनुसार, गोड्डा बिजली संयंत्र से बिजली की लागत कम से कम 9.09 टका प्रति किलोवॉट होगी, जो भारत में अन्य आयातित बिजली की तुलना में 56% अधिक और सौर ऊर्जा से 196% अधिक है। 

इसके अलावा अडानी समूह के गोड्डा बिजली संयंत्र से बिजली उत्पादन की लागत हर साल 5.5% बढ़ेगी। जबकि सौर ऊर्जा की लागत 10% की वार्षिक दर से घटेगी। 

हसन मेहदी ने कहा, “यह बिजली संयंत्र बांग्लादेश की अर्थव्यवस्था पर बहुत बड़ा बोझ होगा। इसका कोई मतलब नहीं है भारत से कोयला से बनी बिजली आयात करे, वह भी तब जब बांग्लादेश में अब 60% अधिक क्षमता दिख रही है।” 

रिपोर्ट से पता चलता है कि पर्यावरण और सामाजिक लागत (जैसे अस्पताल में भर्ती, कृषि, खतरनाक वायु प्रदूषकों और कार्बन डाइऑक्साइड के उत्सर्जन में मत्स्य पालन) प्रति वर्ष 729.64 मिलियन अमेरिकी डॉलर (5,569.34 करोड़ रुपये) और अपने जीवनकाल में 24.72 बिलियन अमेरिकी डॉलर (188,708.29 करोड़ रुपये) है। 

हालांकि, पर्यावरण और सामाजिक लागत का भुगतान करने के लिए प्रायोजक कंपनी अडानी पावर उत्तरदायी है। 

बांग्लादेश पावर डेवलपमेंट बोर्ड (बीपीडीबी) ने सीमा पार बिजली व्यापार व्यवस्था के तहत गोड्डा कोल पावर प्लांट से 1,496 मेगावॉट बिजली लेने के लिए नवंबर 2017 में अडानी समूह के साथ एक समझौते पर हस्ताक्षर किए थे। बीपीडीबी क्षमता शुल्क के रूप में 0.038 अमेरिकी डॉलर (3.26 बांग्लादेशी टका) प्रति किलोवॉट का भुगतान करने के लिए सहमत हुआ। यह दर बांग्लादेश में किसी भी अन्य बिजली संयंत्र से अधिक है। 

समझौते के बाद अडानी समूह ने झारखंड में स्थानीय किसानों से उनकी इच्छा के विरुद्ध और उचित मुआवजा दिए बिना 1,255 एकड़ जमीन ले ली। कंपनी ने बाहुबलियों और कानून लागू कराने वाली एजेंसियों का उपयोग करके गरीब भूस्वामियों को भी प्रताड़ित किया। 

यह बिजली संयंत्र अपने जीवनकाल में औसतन 221.1 मिलियन टन कार्बन डाइऑक्साइड उत्सर्जित कर सकता है। सालाना उत्सर्जन 9.35 मिलियन टन होने का अनुमान है। दुनिया में भारत पांचवां सबसे प्रदूषित और तीसरा सबसे ज्यादा ग्रीनहाउस गैस उत्सर्जित करने वाला देश है। 

भारत सरकार ने 2050 के बजाय 2070 तक शुद्ध शून्य उत्सर्जन लक्ष्य प्राप्त करने का वचन दिया है। वैश्विक समुदाय द्वारा इसकी अत्यधिक आलोचना की जाती है। यह पावर प्लांट भारत की पहचान जलवायु परिवर्तन से निपटने की दिशा में उचित कदम नहीं उठाने वाले देश की बनाएगा। 

रिपोर्ट बताती है कि वैश्विक और राष्ट्रीय प्रतिबद्धताओं पर विचार करते हुए दोनों सरकारों को मौजूदा समझौते को रद्द करने और पेरिस समझौते और ग्लासगो प्रतिबद्धताओं के अनुरूप अक्षय ऊर्जा की आपूर्ति के लिए इसे बदलने के लिए एक संयुक्त समिति बनानी चाहिए। 

कोयला बिजली संयंत्र को चरणबद्ध तरीके से समाप्त करने से पहले सरकार को गोड्डा कोयला बिजली संयंत्र पर नो इलेक्ट्रिसिटी नो पे पॉलिसी लागू करनी चाहिए और पड़ोसी देशों से बिजली सहित किसी भी वस्तु का आयात करने पर उत्सर्जन मानक और मानवाधिकार मानक अपनाने चाहिए। 

रिपोर्ट के सह-लेखक और ग्रोथवॉच, इंडिया के समन्वयक विद्या दिनकर ने कहा, ''बांग्लादेश सरकार को किसी भी जीवाश्म ईंधन आधारित बिजली का आयात करना बंद कर देना चाहिए और पड़ोसी देशों से केवल अक्षय ऊर्जा आयात करने के लिए सख्त रुख अपनाना चाहिए। यह मुजीब के जलवायु समृद्धि योजना के भी अनुरूप होगा।'' 

रिपोर्ट में कहा गया है कि अडानी समूह को यह निर्देश दिया जाए कि 2025 तक नवीकरणीय ऊर्जा स्रोतों से कम से कम 15% बिजली और 2030 तक 30% बिजली की आपूर्ति करे। यह सतत विकास लक्ष्यों और मुजीब के जलवायु समृद्धि योजना के अनुरूप होगा। 

बीडब्ल्यूजीईडी के संयोजक और ढाका विश्वविद्यालय में विकास अध्ययन विभाग के प्रोफेसर डॉ. काजी मारुफुल इस्लाम ने कहा, "ऊर्जा सुरक्षा, रूस-यूक्रेन युद्ध और वैश्विक आर्थिक संकट को ध्यान में रखते हुए, इस प्रकार के समझौतों को रद्द करने और बांग्लादेश में ही अक्षय ऊर्जा आधारित बिजली उत्पादन की व्यवस्था बनाने के अलावा और कोई रास्ता नहीं है।" 

संपर्क 

हसन मेहदी 
सदस्य सचिव, बांग्लादेश वर्किंग ग्रुप ऑन एक्सटर्नल डेब्ट (बीडब्ल्यूजीईडी) 
ईमेल: bwged.bd@gmail.com 

विद्या दिनकर 
समन्वयक, ग्रोथवॉच 
ईमेल: growthwatch.in@gmail.com

আদানি গড্ডা কয়লা-বিদ্যুৎকেন্দ্র : ক্যাপাসিটি চার্জ দিয়েই নির্মাণ করা যায় তিনটি পদ্মা সেতু

সংবাদ বিজ্ঞপ্তি । ৭ জুন ২০২২ 
------------------------------------ 


আদানি গ্রুপের গড্ডা কয়লা-বিদ্যুৎকেন্দ্র আগামী ২৫ বছর মেয়াদে শুধু ক্যাপাসিটি চার্জ হিশেবে বাংলাদেশ সরকারের কাছ থেকে ১ লাখ ৮ হাজার ৩৬১ কোটি টাকা (১১.০১ বিলিয়ন ডলার) নিবে - সম্প্রতি প্রকাশিত একটি প্রতিবেদনে এ তথ্য জানানো হয়েছে। 

বাংলাদেশি নাগরিক সমাজের জোট বাংলাদেশের বৈদেশিক দেনা বিষয়ক কর্মজোট (বিডাব্লিউজিইডি) ও ভারতীয় গ্রোথওয়াচ কর্তৃক যৌথভাবে প্রকাশিত প্রতিবেদনে আরো জানানো হয় যে, ক্যাপাসিটি চার্জের এ অর্থ দিয়ে কমপক্ষে তিনটি পদ্মা সেতু নির্মাণ করা সম্ভব। 

এ সম্পর্কে প্রতিবেদনের অন্যতম লেখক ও বিডাব্লিউজিইডি’র সদস্য সচিব হাসান মেহেদী বলেন, ”যে ক্যাপাসিটি চার্জ দেয়া হবে তার পরিমাণ কর্ণফুলি টানেলের মোট বাজেটের নয়গুণ এবং ঢাকা মেট্রো রেল প্রকল্পের চারগুণেরও বেশি”। 

প্রতিবেদন অনুসারে আদানি গ্রুপ প্রতি বছর কমপক্ষে ৩ হাজার ৬৫৭ কোটি টাকা (৪২৩.২৯ মিলিয়ন ডলার) ক্যাপাসিটি চার্জ হিশেবে গ্রহণ করবে যা বাংলাদেশের জনগণের উপকার না করে বরং আদানি গ্রুপকে আরো ধনী হবার সুযোগ করে দেবে। 

হালনাগাদকৃত অগ্রগতি প্রতিবেদন অনুসারে, বিদ্যুৎকেন্দ্রটি আগামী আগস্ট মাসে উৎপাদন শুরু করবে যদিও সঞ্চালন লাইন নির্মিত না হওয়ায় বাংলাদেশে বিদ্যুৎ সরবরাহ করা সম্ভব হবে না। 

আগামী ডিসেম্বরের মধ্যে বিদ্যুৎ সঞ্চালন লাইন নির্মাণ সম্পন্ন হলেও আগস্ট থেকে ডিসেম্বর পর্যন্ত চার মাসে এক ইউনিট বিদ্যুৎ না নিয়েই আদানি গ্রুপকে ১ হাজার ২১৯ কোটি টাকা ক্যাপাসিটি চার্জ দিতে হবে। 

প্রতিবেদনের প্রাক্কলন অনুযায়ী, আদানি পাওয়ারের এ বিদ্যুৎকেন্দ্র থেকে আমদানিকৃত প্রতি ইউনিট বিদ্যুতের দাম হবে কমপক্ষে ৯ টাকা ৯ পয়সা যা বিদ্যমান আমদানিকৃত বিদ্যুতের মূল্যের তুলনায় ৫৬ শতাংশ ও ভারতের সৌরবিদ্যুতের তুলনায় ১৯৬ শতাংশ বেশি। 

এছাড়া, আদানি গ্রুপের গড্ডা কয়লা-বিদ্যুৎকেন্দ্র থেকে আমদানিকৃত বিদ্যুতের দাম প্রতি বছর কমপক্ষে ৫.৫ শতাংশ হারে বাড়বে। অন্যদিকে দেশে ও প্রতিবেশী দেশ ভারতে উৎপাদিত সৌরবিদ্যুতের দাম প্রতি বছর ১০ শতাংশ হারে কমে যাচ্ছে। 

হাসান মেহেদী বলেন, ”এ বিদ্যুৎকেন্দ্র বাংলাদেশের অর্থনীতির উপর মারাত্মক চাপ তৈরি করবে। বাংলাদেশের অতি-সক্ষমতার মাত্রা ৬০ শতাংশ ছাড়িয়ে যাবার পর ভারত থেকে অতি-খরুচে বিদ্যুৎ আমদানির কোনো যৌক্তিকতা নেই”। 

প্রতিবেদনটির তথ্য অনুযায়ী, গড্ডা কয়লা-বিদ্যুৎকেন্দ্র থেকে নির্গত ক্ষতিকর বায়ুদুষণ ও কার্বন ডাই অক্সাইডের পরিবেশগত ও সামাজিক ক্ষতির (স্বাস্থ্যসেবা, কৃষি ও মৎস্য) পরিমাণ বছরে ৫ হাজার ৫৬৯ কোটি ভারতীয় রুপি (৭২৯.৬৪ মিলিয়ন ডলার) ও ২৫ বছরের মেয়াদে কমপক্ষে ১ লাখ ৮৮ হাজার ৭০৮ কোটি ভারতীয় রুপির (২৪.৭২ বিলিয়ন ডলার) সমান। 

আদানি পাওয়ার পরিবেশগত ও সামাজিক ক্ষতির কোনো দায়-দায়িত্ব নিচ্ছে না। 

আন্তসীমান্ত বিদ্যুৎ-বাণিজ্য চুক্তির আওতায় বাংলাদেশ বিদ্যুৎ উন্নয়ন বোর্ড (বিউবো) ২০১৭ সালের নভেম্বরে আদানি গ্রুপের গড্ডা কয়লা-বিদ্যুৎকেন্দ্র থেকে ১৪৯৬ মেগাওয়াট বিদ্যুৎ ক্রয়ের চুক্তি (পিপিএ) সম্পাদন করে। এ পিপিএ অনুসারে বিউবো প্রতি ইউনিট বিদ্যুতের বিপরীতে আদানি গ্রুপকে ৩ টাকা ২৬ পয়সা (০.০৩৮ ডলার) ক্যাপাসিটি চার্জ দেয়ায় সম্মত হয় যা বাংলাদেশের অন্য যে কোনো বিদ্যুৎকেন্দ্রের চেয়ে ১৬ শতাংশ বেশি। 

চুক্তি সম্পাদনের পর, আদানি গ্রুপ ঝাড়খণ্ডের স্থানীয় অধিবাসীদের ইচ্ছার বিরুদ্ধে যথাযথ ক্ষতিপূরণ না দিয়েই ১ হাজার ২৫৫ একর জমি অধিগ্রহণ করে। এছাড়া কোম্পানিটির বিরুদ্ধে সন্ত্রাসী ও আইন-শৃংখলা রক্ষাকারী বাহিনী ব্যবহার করে স্থানীয় অধিবাসীদের উচ্ছেদ ও অত্যাচারের অভিযোগ রয়েছে। 

এ বিদ্যুৎকেন্দ্র থেকে প্রতি বছর ৯৩.৫ লাখ টন কার্বন নির্গমন হবে যা ২৫ বছরের মেয়াদকালে ২২ কোটি ১১ লাখ টনে পৌঁছে যেতে পারে। ভারত বর্তমানে বায়ুদুষণের দিক দিয়ে পৃথিবীর পঞ্চম ও কার্বন নির্গমনের দিক দিয়ে তৃতীয় স্থানে রয়েছে। এ বিদ্যুৎকেন্দ্র দুষণ ও নির্গমনের দিক দিয়ে ভারতের অবস্থানকে আরো দুর্বল করবে। 

গত ডিসেম্বরে অনুষ্ঠিত গ্লাসগো সম্মেলনে ভারত ২০৫০-এর বদলে ২০৭০ সালে গড়শূন্য নির্গমনের ঘোষণা দিলে সারা পৃথিবী থেকে এ অবস্থানের সমালোচনা করা হয়। আদানি পাওয়ারের গড্ডা কয়লা-বিদ্যুৎকেন্দ্র ভারতকে ‘জলবায়ু বিরোধী’ হিশেবে প্রতিষ্ঠিত করতে পারে। 

যেহেতু বাংলাদেশ সরকার এককভাবে এ চুক্তি বাতিল করতে পারে না সেহেতু প্যারিস চুক্তি ও গ্লাসগো প্রতিশ্রুতির আলোকে বর্তমান চুক্তি সংশোধন করে ভারত থেকে নবায়নযোগ্য জ্বালানিভিত্তিক বিদ্যুৎ সরবরাহের জন্যে প্রতিবেদনটিতে একটি যৌথ কমিটি গঠন করার জন্য উভয় সরকারের কাছে প্রস্তাব করা হয়। 

গড্ডা বিদ্যুৎকেন্দ্র বন্ধ করার পূর্ব পর্যন্ত প্রতিবেশী দেশ থেকে বিদ্যুৎ আমদানির ক্ষেত্রে ‘নো ইলেকট্রিসিটি নো পেমেন্ট’ বিধান আরোপ এবং যে কোনো পণ্য বা পরিষেবা আমদানির ক্ষেত্রে কার্বন নির্গমন ও মানবাধিকারের মানমাত্রা আরোপের সুপারিশ করা হয়। 

প্রতিবেদনের অন্যতম লেখক ও গ্রোথওয়াচের সমন্বয়কারী বিদ্যা দিনকর বলেন, ”মুজিব জলবায়ু সমৃদ্ধি পরিকল্পনা অনুসারে ভারত বা অন্য প্রতিবেশী দেশ থেকে জীবাশ্ম জ্বালানিভিত্তিক বিদ্যুৎ আমদানি বন্ধ করে শুধুমাত্র নবায়নযোগ্য জ্বালানি আমদানির জন্য বাংলাদেশ সরকারের কঠোর অবস্থান নেয়া উচিৎ”। 

টেকসই উন্নয়ন লক্ষ্যমাত্রা (এসডিজি) ও মুজিব জলবায়ু সমৃদ্ধি পরিকল্পনার আওতায় আগামী ২০২৫ সালের মধ্যে কমপক্ষে ২৫ শতাংশ ও ২০৩০ সালের মধ্যে ৩০ শতাংশ বিদ্যুৎ নবায়নযোগ্য উৎস থেকে সরবরাহের জন্য আদানি গ্রুপকে বাধ্য করার জন্য নির্দেশ দিতে বাংলাদেশ সরকারের প্রতি আহ্বান জানানো হয়। 

বিডাব্লিউজিইডি’র আহ্বায়ক ও ঢাকা বিশ্ববিদ্যালয়ের উন্নয়ন অধ্যয়ন বিভাগের অধ্যাপক ড. কাজী মারুফুল ইসলাম বলেন, “বাংলাদেশের জ্বালানি নিরাপত্তা, রাশিয়া-ইউক্রেন যুদ্ধ ও বৈশ্বিক অর্থনৈতিক সঙ্কট বিবেচনায় নিয়ে এ ধরনের চুক্তি বাতিল করে নবায়নযোগ্য জ্বালানিভিত্তিক বিদ্যুৎব্যবস্থা গড়ে তোলার কোনো বিকল্প নেই।”

Adani Godda Coal Power Plant: Capacity charge equals to cost of 3 Padma Bridges

Media Release | 7 June 2022 
------------------------------------ 

Download full Report | Media Release (Bangla | Hindi)

The Godda Coal Power Plant of Adani Group will take USD 11.01 billion (108,360.60 crore taka) as capacity charge from Bangladesh in its 25 years of lifetime, revealed a recently released report. 

According to this report co-published by Bangladesh Working Group on External Debt (BWGED) and Growthwatch, Bangladesh could have built three Padma Bridges with the amount to be spent for capacity charges. 
“The amount for the capacity charge is nine times higher than the budget of Karnaphuli River Tunnel and more than four times than the Dhaka Metro Rail”, said Hasan Mehedi, an author of the report and member secretary of BWGED. 

According to the report, the Adani Group may take USD 423.29 million (3,657 crore taka) as capacity charge per year, which will help them to make more money without benefitting Bangladeshi people. 

The power plant is supposed to go into operation in August 2022, however, Bangladesh won’t be able to receive the electricity until an active transmission line is being built or installed. 

Even if the transmission line were built by December 2022 according to the plan, Bangladesh will have to pay USD 141.10 million (BDT 1,219.10 crore) of capacity charges in four months only. 

According to the estimation of the report, the cost of electricity from the Godda power plant will be at least BDT 9.09 per kWh, which is 56% higher than the other imported electricity and 196% higher than solar power in India. 

In addition to that, the cost of electricity from the Godda Adani Group will increase by 5.5% per year, while the cost of solar power will be decreasing at a yearly rate of 10%. 

“This power plant will be a huge burden on the Bangladesh economy. It doesn’t make any sense to import coal power from India when Bangladesh is experiencing around 60% overcapacity now” Hasan Mehedi said. 

The report reveals that the environmental and social cost (e.g. Hospitalization, Agriculture, Fishing) of the emissions of hazardous air pollutants and carbon dioxide is USD 729.64 million (INR 5,569.34 crore) per year and USD 24.72 billion (INR 188,708.29 crore) over its lifetime. 

However, sponsor company Adani Power is liable to pay the environmental and social cost. 

Bangladesh Power Development Board (BPDB) signed an agreement with Adani Group in November 2017 to offtake 1,496 MW power from Godda Coal Power Plant under cross-border electricity trade arrangement. The BPDB agreed to pay USD 0.038 (BDT 3.26) per kWh as capacity charge which is higher than any other power plant in Bangladesh. 

After the agreement, Adani Group took 1,255 acres of land from the local farmers in Jharkhand against their will and without paying proper compensation. The company also tortured the poor land owners by using musclemen and law enforcing agencies. 

The power plant may emit 221.1 million tons of carbon dioxide in its lifetime with an average emission of 9.35 million tons annually. India is the fifth most polluted and third highest greenhouse gas emitting country in the world. 

The Indian Government has given a commitment to achieve net zero by 2070 instead of 2050. The position is highly criticized by the global community. This power plant will only help to establish India as a climate denier. 

The report suggests that considering the global and national commitments, both of the governments should form a joint committee for annulling the existing agreement and replacing it to supply renewable energy in line with the Paris Agreement and Glasgow commitments. 

Before phasing out the coal power plant the Government should impose No Electricity No Pay policy on Godda coal power plant and adopt an Emission Standard and Human Rights Standard in importing any commodities including electricity from neighboring countries. 

“The Bangladesh government should also stop importing any fossil fuel based electricity and take a strict position to import only renewable energy from neighboring countries in line with the Mujib Climate Prosperity Plan'' said Vidya Dinker, co-author of the report and coordinator of Growthwatch, India.

The report suggests instructing Adani Group to supply at least 15% electricity from renewable energy sources by 2025 and 30% by 2030 in line with the SDGs and Mujib Climate Prosperity Plan. 

“Considering the energy security, Russia-Ukraine war and global economic crisis, there is no other way than cancelling these types of agreements and building a renewable energy based electricity system in Bangladesh”, said Dr. Kazi Maruful Islam, Convener of BWGED and Professor of Development Studies department in the University of Dhaka.

Adani Godda Coal Power Plant: An Achilles Heel of the Power Sector of Bangladesh

7 June 2022 | Tuesday | Bangladesh 
----------------------------------------------
The Adani Godda Ultra-Supercritical Coal Power Plant is located in Godda district of the state of Jharkhand, India. The 1600 MW power plant has been built under a cross border power purchase agreement signed with the Bangladesh Power Development Board (BPDB) to supply 1496 MW of electricity for 25 years from the commercial date of operation (COD).

In cooperation with Growthwatch (India), the Bangladesh Working Group on External Debt (BWGED) published a report on the negative impact of Adani Godda Coal Power Plant on both Bangladesh and India. 

Media Release: Bangla | English | Hindi

Findings 

  1. Adani Power Limited, a subsidiary of the Adani Group, acquired 1,255 acres of land from the local farmers by force and without payment of proper compensation. The company also tortured the poor land owners by using musclemen and law enforcing agencies. 
  2. The power plant may emit 221.1 million tones (minimum 193.6 - maximum 277.7 Mmt) of carbon dioxide in its lifetime with an average emission of 9.35 million ton annually. India is the third largest emitting country in the world which is committed to achieve net zero by 2070, instead of 2050. The position is highly criticized by the global community. This power plant will only help to establish India as a climate denier.
  3. Cost of electricity from Godda coal power plant may reach USD 0.105 (BDT 9.09) per Unit (kWh) in 2022 and BDT 36.41 (USD 0.33) in 2047 which is 56.2% higher than imported power, 56.5% higher than the domestic solar power and 196.1% higher than Indian solar power. 
  4. BPDB will have to pay a maximum BDT 10.124.75 crore (USD 1.17 billion) and minimum BDT 7,933.04 crore (USD 918.18 million) per year to buy electricity from Godda Power Plant which will only add to the growing burden caused by excess power capacity in Bangladesh.
  5. BPDB will have to pay BDT 3,657.23 crore (USD 423.29 million) for the annual capacity charge and BDT 1,08,360.60 crore (USD 11.01 billion) over its lifetime which will only benefit the billionaire Adani Group to make more money. The power plant should be ready to supply electricity by August 2022. But the transmission line to export electricity will be ready only after December 2022. BPDB will have to pay BDT 1,219.10 crore (USD 141.10 million) in capacity charges for the waiting period of 4 months even though no power will make its way to Bangladesh.
  6. The environmental and social cost (e.g. Hospitalization, Agriculture, Fishing) of the emissions of hazardous air pollutants and carbon dioxide is INR 5,569.34 crore (USD 729.64 million) per year and INR 188,708.29 crore (USD 24.72 billion) over its lifetime.

Recommendations

  • In the light of the statements made during COP-27, both the Government of Bangladesh (GOB) and the Government of India (GOI) should explore ways of annulling the existing bilateral agreement and replacing an agreement in line with the Paris Agreement and Glasgow commitments.
  • Both of the Governments should cancel the PPA and create a flexible supply regime for Renewable Energy (RE). Since it involves commercial agreements, a joint committee can be formed to resolve any issues arising out of the change.

As the PPA cannot be cancelled unilaterally, the Government of Bangladesh:
  1. Must impose a No Electricity No Payment (NENP) policy on Adani Power (Jharkhand) Limited consistent with the new PPAs for Rental Power Plants and importing electricity.
  2. Must instruct Adani Power Limited to supply at least 12% electricity from RE sources by 2025 and 30% by 2030 in line with the SDGs and Mujib Climate Prosperity Plan (MCPP).
  3. Should adopt Emission Standards (ES) and Human Rights Standards (HRS) for imported products and services to ensure international standards in importing power from neighboring countries.
  4. Should propose importing only RE based electricity from India keeping in mind that imported electricity will not cross 10% of the total generated power.

As GOB is not in position to cancel the PPA, the Government of India:
  1. Must cancel the Adani Godda Coal Power Plant to protect the indigenous and affected communities from consequences of emission and pollution.
  2. Try APL for human rights violation and forceful acquisition of land and other natural resources.
  3. Compensate the affected indigenous people with the same size and quality of land and other resources they lost to the Godda Coal Power Plant.
  4. Withdraw all false court cases filed against the affected communities and Human Rights defenders.
  5. Impose carbon tax on Adani Godda Coal Power Plant at a rate defined by IPCC and other UN agencies.
  6. Force APL to provide financial resources as environmental and social damage compensation which is not less than the estimation of the independent scientific and economic research findings.