The Asian Development Bank (ADB) has signed a $121.55 million financing package with Dynamic Sun Energy Private Limited to build and operate a 100-megawatt (MW) grid-connected solar photovoltaic power plant in Pabna, Bangladesh.  The plant is the country’s first private sector utility-scale solar facility to secure support from global financiers, said the Manilla-based lending agency on Monday (April 29, 2024).  ADB arranged, structured, and syndicated the debt package as the sole mandated lead arranger and bookrunner.  The financing package comprises a $46.75 million loan from ADB, a syndicated B-loan of $28.05 million from ILX Fund I, an Amsterdam-based emerging market private credit fund focused on supporting the Sustainable Development Goals with ADB as lender of record, and a syndicated parallel loan of $46.75 million from the Japan International Cooperation Agency.  Competition policy can unlock increased FDI flows into Bangladesh: ADB Country Director to MCCI “As Asia’s climate bank, ADB welcomes the opportunity to support renewable energy in Bangladesh, where obtaining long-term financing for such projects is a challenge,” said ADB Private Sector Operations Department Director General Suzanne Gaboury. “This partnership exemplifies our lead role in mobilising financing for clean energy facilities and stimulating further investment in sectors where it’s needed the most.” The solar power plant will generate 193.5 gigawatt-hours of electricity annually and avoid 93,654 tons of carbon dioxide emissions annually. “We are delighted to secure financing for one of the largest private sector solar projects in Bangladesh to date, with the support of international lenders led by ADB,” said PT Managing Director Shakhawat Hossain.  “Partnering with an internationally reputable financial institution such as ADB affirms PT’s dedication to sustainability and marks a significant stride in our journey towards sustainable growth.” Banks tailoring offshore services with lucrative benefits aimed at wealthy NRBs DSE is owned by Paramount Textile PLC (PT), one of the largest woven textile manufacturers in Bangladesh, which also operates several power plants.  PT manufactures high-quality yarn-dyed and printed woven fabrics using a wide range of yarns, modern weaving technologies, and print types.  PT was publicly listed on the Dhaka and Chittagong stock exchanges in 2013. 

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.    Read more: Govt positive about Singapore company's 400MW Matarbari solar power plant proposal: Nasrul “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. Read more: British High Commission Dhaka turns to renewable energy through solar panels 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.

The country’s single largest rooftop solar plant was inaugurated on Sunday at the privately owned Korean Export Processing Zone (EPZ) in Anwara upazila of Chattagram. The power plant, installed on the rooftop of the factories in the EPZ will generate 16 MW in the first phase while the total capacity of the plant will be 40 MW. Inaugurating the plant, State Minister for Power, Energy and Mineral Resources Nasrul Hamid said the government has been laying special emphasis on promotion of renewable energy across the country. “We’ve set a target to generate 40 percent of electricity from renewable sources by 2041”, he told the function.      

A 35MW solar power plant in Manikganj has gone into commercial operation supplying electricity to the national grid.  “The plant has been supplying electricity to the national grid since it started its commercial operation in March this year,” said Imran Chowdhury, country head of the Sungrow Power Supply Company Ltd, which worked for the project as engineering, procurement and construction (EPC) contractor.  Spectra Solar Park Ltd, (SSPL), a joint venture of Bangladeshi Spectra Group and Chinese Shunfeng Investments Limited (SIL), developed the project at Shibalaya Upazila in Manikganj with $15 million financial support from the Asian Development Bank (ADB). Read: Solar Home System: IDCOL partners seek govt intervention in loan write-off issue The state-owned Bangladesh Power Development Board (BPDB) will purchase electricity from this independent power producer (IPP) project at a rate of TK 11.12/kWh ($0.13) under a 20-year power purchase agreement (PPA). Official sources said SSPL is a special purpose vehicle (SPV) owned by Bangladesh-based Spectra Engineers Limited (SEL) and the Hong Kong, China-based Shunfeng Investments Limited (SIL).  The SSPL is the borrower for the loan and will build, own, and operate the project. SEL owns 80 percent of SSPL and SIL owns the remaining 20 percent. Read Consider downward revision of power generation plan: CPD to govt According to the sources, the Consortium of Spectra Engineers Limited & Shunfeng Investment Limited owned the 35 MW (AC) grid-connected solar park through an unsolicited offer under the Fast Power and Energy Supply (special) Act. They said this has been the 4th IPP project that came into operation although more than 20 such projects were awarded to private sponsors.  Read:Sreda, BGMEA sign deal for rooftop solar power promotion in RMG sector Earlier, 4 IPP projects -- 50 MW (AC) Solar Park Gauripur, Mymensingh by HETAT-DITROLIC-IFDC Solar Consortium, 8 MW Solar Park in Panchagarh by Parasol Energy Ltd., 20MW (AC) Solar Park Teknaf Upazila, Cox's Bazar by Joules Power Limited (JPL) and 3 MW Grid-connected PV Power Plant at Sharishabari in Jamalpur by Engreen Sharishabari Solar Plant Ltd, owned by IFE-CPC-JEL Consortium -- went into operation. Imran Chowdhury said the Chinese mother company has launched Sungrow Renewable Energy Bangladesh Limited (SREBL) as a new company to work as IPP project developer beyond its current job of EPC contractor to make a significant contribution to National Solar Energy Roadmap Up To 2041.  He said Sungrow now offers different technologies and solutions -- solar-plus energy storage solution (ESS), power plant by lithium-ion battery, floating solar power plant, solar fishery power plant, ground-mounted solar power plant -- for the Bangladesh market. Reead Nasrul urges RMG owners: Go solar for low cost, tax break The study, titled 'National Solar Energy Action Plan 2021-2041', was conducted by the Sustainable and Renewable Energy Development Authority (Sreda) in collaboration with the United Nations Development Programme (UNDP). Meanwhile, the country’s Power System Master PLan (PSMP) has set a target to reach the renewable energy’s share to 10 percent of total power generation capacity (2470 MW) by 2021 -- a major focus was supposed to be on exploiting the potential of solar energy to achieve the goal. But available data shows the country now has the generation capacity of 20,595 MW from conventional sources while power from renewable sources is lagging far behind at 700.61 MW, which is around 3 percent of the total generation capacity. Read: Nasrul urges RMG owners: Go solar for low cost, tax break The Sustainable and Renewable Energy Development Authority (Sreda) show that among different renewable energy sources, PV solar leads the sector with 466.68 MW generation capacity, while it is followed by hydro with 230 MW capacity, 2.9 MW from wind, 0.63 MW from Bio-gas and 0.4 MW from Biomass. Energy experts say that Bangladesh is far behind Pakistan and India, among its South Asian neighbors, in utilising renewable energy resources for electricity generation. The PSMP stipulates for 35 percent power generation from imported LNG (liquefied natural gas), some 35 percent from imported coal, 15 percent from renewable energy, 10 percent from nuclear energy and five percent from petroleum oil by 2041, when the country’s generation will reach 60,000 MW, the officials added. Read Sreda, BGMEA sign deal for rooftop solar power promotion in RMG sector

Dhaka, Sept 26 (UNB) – The government is expecting to receive in October next the report of a feasibility study on the proposed 50MW Floating Solar Power Plant Project in the Kaptai Lake.