Summit Group to invest $3.0b in clean-energy push

Bangladesh's Summit Group plans to invest $3 billion in solar, wind and hydroelectricity generation projects in south Asia as a part of its clean energy push and efforts to diversify its fossil fuel-based business, its chairman said recently. Summit Power International, the Singapore-based holding company for all power generation assets of Bangladesh's Summit Group in which Japanese utility JERA holds a 22% stake, will build 1,000 megawatts of solar and wind energy projects with battery storage in India, group Chairman Aziz Khan said." We have signed memorandums of understanding with large Indian companies. This will be the cheapest form of electricity for Bangladesh, cheaper than even natural gas-based power," Khan said in an interview at his office.
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