Saudi Arabia’s ACWA Power has signed a non-binding memorandum of understanding (MoU) with the state-owned Bangladesh Power Development Board (BPDB) to set up a 1000MW solar power plant in Bangladesh.

Welcoming the initiative, State Minister for Power, Energy and Mineral Resources Nasrul Hamid said that the investment and technological assistance from Saudi Arabia’s ACWA will help Bangladesh achieve its clean energy by 2041 goal.

He said Bangladesh has been promoting renewable energy in various ways.   

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“The government has been working in a coordinated manner to promote renewable energy. State-owned Sustainable and Renewable Energy Development Authority (SREDA) is providing necessary technological support and consultations,” he said at the contract signing ceremony held at Biduyt Bhaban in Dhaka on Monday (November 28, 2022). 

BPDB Board Secretary Mohammad Selim Reza and ACWA Power Business Development Department’s Executive Director Ayad Al Amri signed the MoU on behalf of their respective sides.

As per the non-binding MoU, Saudi ACWA Power will provide technological and financial support while BPDB will extend its administrative support for the 1000MW solar power project.

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With BPDB chairman Md Mahbubur Rahman in the chair, the MoU signing event between BPDB and Saudi Arabia’s ACWA Power was also addressed by power secretary Habuibur Rahman and Saudi Arabia’s ambassador to Bangladesh Essa Bin Yousef Al Duhailan.