A South Korean company Gravity Power Plant has recently shown its interest to build a number of power plants having a capacity to generate about 5000MW of electricity in Bangladesh.
The company will bear 100 percent project implementation funding, said officials concerned.
They will produce the electricity using gravitational force. “The generation of electricity though gravity will be the cleanest and greenest electricity with a constant quality”, said Anthony Lee, CEO of the Gravity Electric Korea in his project proposal.
“We can build the first 500MW power plant within 16 months after singing the power purchase agreement and the consecutive 500MW power plants will be set up within every six months,” he said.
The gravity electricity generation plant will be installed on 30 acres of land, he said.
According to Gravity, they will use the least acres of land as a 1000MW nuclear power plant requires approximately 830 acres of land while a solar power requires 34 to 57 times more land than nuclear and wind require 200 to 276 times more.
Gravity power plant is a power plant that produces clean, renewable energy using gravitational force and usually does not require any external energy sources.
To make the project a reality, the company has recently urged the government for the necessary land, tax free benefit to import construction parts and payment guarantee and power purchase agreement.