K&M was engaged by the Asian Development Bank (ADB) to serve as the Lead Transaction and Financial Advisors to the Government of Bangladesh and the Bangladesh Power Development Board (BPDB) to implement the country’s first Independent Power Project (IPP). K&M was responsible for the technical, commercial, financial and legal aspects of the 450 MW Meghnaghat Power Project. It was structured and tendered on a Build-Own-Operate-Transfer (BOT) basis. Specific assignments ranged from conducting a feasibility assessment, analyzing the sector institutional and regulatory framework to structuring the deal, developing the security package and project agreements, determining adequate tariff levels, identifying project financing resources, managing the international tendering process and providing negotiation support to the BPDB. K&M also analyzed wholesale operation procedures, regional energy issues related to the development of offshore gas fields, regional pipeline transportation options, and gas transfer pricing. The $300 million Meghnaghat natural gas-fired combined cycle project achieved financial close in 2001. The project was recognized as “Asia Power Project Deal of the Year” in 2001 by Project Finance International.