Mr. Vipul Tuli
Chief Executive Officer, South Asia, Sembcorp
Power & Energy
November 29, 2021 | 11:30am - 12:45pm | GMT+6
BRIEF ON EDUCATION: He is an alumnus of IIM, Calcutta, and IIT, Delhi.
BRIEF ON PROFESSION: Vipul Tuli heads Sembcorp's South Asia business and oversees Sembcorp's investments and key stakeholder relationships in India and Bangladesh as CEO, South Asia. He is a director on the board of Sembcorp North-West Power Company Ltd., a 414 MW CCGT (Gas/HSD) Power Plant at Sirajganj. He has been associated with the Sembcorp group since 2015 in various capacities, including the role of Chief Executive Officer & Country Head, India, as Managing Director of Sembcorp's thermal businesses in India, and as the Head of Group Strategy at Sembcorp Industries.
In addition, Mr. Tuli also chairs the Power Committee at Federation of Indian Chambers of Commerce & Industry (FICCI).
Prior to joining Sembcorp, Mr. Tuli was a Senior Partner with McKinsey & Company and helped build and lead the Asian energy practice. Mr. Tuli's experience spans power generation, fuel management, upstream oil and gas, refining, marketing and distribution, petrochemicals, and specialty chemicals. He has also advised government institutions across Asia on issues of energy policy, organisation, industry structure and regulation
BRIEF CONTRIBUTION OF THE ORGANIZATION:
- ECONOMY OF BANGLADESH
Different studies both in developed and developing countries found strong positive correlation between electricity consumption and GDP of the country. Sembcorp North-West Power Company Ltd. is the most efficient among the private sector power producer of the country generating electricity at the lower incremental cost and supporting country's economy. It is supplying electricity at a price which is half of the average electricity cost of BPDB. In FY 2020-21 (July-June), Company generated about 3000 GWh electricity even during the subdued economic activity due to pandemic. In terms of installed capacity, Sembcorp North-West Power Company Ltd. represents about 1.9% of the total generation capacity of the country. However, in terms of electricity generation and supply, Company supplied about 3.7% of the total electricity generation of the country in FY2020-21 (July-June). Company has also deposited Tk1,500 million as tax and VAT to Govt. exchequer since starting construction in late 2016. As the Company is now operating, about Tk.520 million of tax and VAT has been deposited only in 2021.
Being one of most reliable and economical power generators, Sembcorp has been playing a positive catalyst's role in Power and energy sector of Bangladesh.
- LOCAL AND/OR FOREIGN PRIVATE INVESTMENT OF BANGLADESH
Investment in Sembcorp North-West Power Company Ltd. is a pioneer investment by a Singapore Company in Bangladesh and its success has encouraged other Singapore companies to consider further investment in the country. At present, 29% of the shareholding is owned by Government of Bangladesh through investment by a government owned company, North-West Power Generation Company Ltd.
Transparent project vehicle execution, inclusive and collaborative approach in O&M phase with local partner M/s Northwest and efficient operational experience sets Sembcorp North-west Power as a showcase project for Foreign Direct Investment in Bangladesh's Power Generation sector. This project is financed by multilateral financial institutions like IFC, CDC, JICA and Clifford Capital. This was JICA's first investment in a private sector project.
- GENERATING EMPLOYMENT IN BANGLADESH
More than 2000 employment was generated during construction of the project. During operation, currently more than 125 people are directly employed by the Company and its support service providers. In addition, hundreds of people are indirect employment is generated by the Company.
Sembcorp Northwest Power Company Limited (SNWPCL) has successfully constructed a world class 414MW gas based combined cycle power plant with contribution from more than 2000 talented pool of local workmen and engineers. SNWPCL's plant is operated as a most efficient plant by its O&M team comprising of more than 125 able workmen and engineers of local origin. The contribution of competent local manpower has been an immense value addition both in construction as well as in operational stage.
- TRANSFERING/DEVELOPING TECHNOLOGY, KNOWLEDGE AND SKILL IN BANGLADESH
The project was constructed using most advanced technology of the industry making this the most efficient power plant of the country. Local employees were involved during construction of the project, which provided them the opportunity to develop their knowledge and experience in implementing such high-tech industry in Bangladesh. Company arranged extensive training for the local employees. Currently, the operation is entirely run by local Bangladeshi employees and their knowledge and skills are getting continuously upgraded with training by world class external and in-house Sembcorp experts of the industry.
Sembcorp is known for its proven practices of safe and reliable technology in power generation and utility business. The rising performance graph of SNWPCL is a testimony of quick ongoing absorption of Sembcorp's prudent business practices into SNWPCL's team. With increasing inputs from Sembcorp's Global Academy learning, SNWPCL aspires to be a model plant in the Bangladesh power market.
Message on Bangladesh International Investment Summit 2021:
'Steady rise of electricity demand in Bangladesh' growing economy, availability of rich generation resources in India and common commitment towards clean energy transition have created compelling opportunities for international electricity trade between India and Bangladesh in the South Asian market. Sembcorp, having considerable presence in both country's power market, is sincere to compete in the electricity business prevailing in both markets individually as well as in the cross-border trade between both countries.
Sembcorp has a generation capacity of more than 5.3 GW (USD $4.5 bn) in South Asia spread across Bangladesh and India.
Sembcorp has ambitious plan to tap power market opportunities in Bangladesh in line with its vision of "Brown to Green", to provide reliable and sustainable power'.