Summit Group recently announced the appointment of Md Reaz Uddin as Managing Director and Chief Executive Officer of both Summit Meghnaghat I Power Company Limited and Summit Meghnaghat II Power Company Limited, consolidating leadership of the conglomerate’s most technologically advanced power generation facilities under a single executive.
The appointment positions Reaz Uddin to oversee 920 megawatts of combined capacity across two facilities that represent generations of power technology in Bangladesh. Summit Meghnaghat I operates as a 337-megawatt combined cycle plant and has been operational since June 2015, while Meghnaghat II achieved commercial operations in April 2024 as a 583-megawatt facility featuring General Electric’s first HA-class gas turbine deployed in the country.
Reaz Uddin brings 32 years of power generation experience to the consolidated role, having previously served as CEO of Summit Meghnaghat II Power Company and Chief Operating Officer of both Meghnaghat I and Summit Bibiyana Power Company. His career spans the development, financing, construction, and operation of power plants totaling over 2,000 megawatts, contributing to foreign project financing exceeding $1.1 billion into Bangladesh.
Technical Leadership During Critical Deployment
The appointment follows Meghnaghat II’s successful commissioning with GE’s 9HA.01 gas turbine technology, which achieves 63.7% net combined-cycle efficiency in the 50-Hz segment This efficiency level establishes new performance benchmarks for Bangladesh’s power generation sector, where traditional plants typically operate at considerably lower efficiency rates.
“The combined cycle power plant is going to be one of the most efficient power stations in the world, which will ensure the best and efficient use of natural gas,” said Summit Group founder Muhammad Aziz Khan while visiting the plant construction site in Meghnaghat, Narayanganj.
The technical complexity of deploying this advanced turbine technology in Bangladesh required extensive coordination with international partners. Summit Meghnaghat I is a joint venture between Taiyo Life Insurance (Japan), and Summit, while Summit Meghnaghat II is a joint venture between GE (USA) and Summit. These projects sit within Summit’s wider portfolio, supported by its international partners, including JERA.
Reaz Uddin’s engineering background from Bangladesh University of Engineering and Technology, combined with his MBA from Victoria University in Australia, should position him to manage the technical challenges inherent in introducing cutting-edge gas turbine technology to Bangladesh’s power grid. His experience with multinational organizations, including AES Corporation, CDC Globeleq, and Powertek Berhad has also provided exposure to international standards for power plant development and operations.
Operational Standards
Both facilities operate within Bangladesh’s power market environment, where the Bangladesh Power Development Board maintains power purchase agreements that provide revenue stability while imposing operational requirements.
Summit Power International maintains its position as Bangladesh’s largest independent power producer, operating 14 power plants with more than 2,000 megawatts of total capacity.
The Meghnaghat facilities benefit from their location on the northern banks of the Meghna River near Dhaka, providing access to existing transmission infrastructure and fuel supply networks. Both plants operate as dual-fuel facilities capable of using natural gas as primary fuel and high-speed diesel as backup, providing operational flexibility for varying fuel availability.
Gas-based plants like the Meghnaghat facilities can produce electricity at costs of Tk3-Tk3.5 per unit, considerably below costs for diesel-based generation which typically exceed 37 taka per unit.
International Partnership Framework
The joint venture structure of both facilities demonstrates Summit Group’s approach to leveraging international partnerships for advanced technology deployment. These partnerships extend beyond financial investment to include maintenance agreements and operational support. GE provides a 22-year maintenance and repair services agreement for Meghnaghat II, ensuring sustained performance throughout the plant’s operational life.
Standard Chartered Bank, lending under Switzerland’s export credit agency SERV’s cover, and the International Finance Corporation jointly provided $350 million of financing for Meghnaghat II’s development. This international financing structure was enabled by Summit Group’s Singapore-based corporate framework that enables access to competitive project financing unavailable through domestic Bangladeshi markets alone.
Community Engagement and Social Responsibility
Beyond his professional achievements in power generation, Reaz Uddin maintains active community engagement. During the COVID-19 pandemic and devastating floods in Feni, Noakhali, and Lakshmipur in 2024, he led personal initiatives to mobilize resources and distribute essential supplies among affected communities.
This community focus aligns with Summit Group’s broader corporate social responsibility framework, which includes educational initiatives and infrastructure development in areas surrounding power plant operations. Muhammed Aziz Khan has emphasized education as “the biggest enabler of equality in the world,” reflecting the company’s commitment to social development alongside power generation.
