Bangladesh Operationalises 30-MW Solar Power Project in Pabna

Bangladesh Operationalises 30 MW Solar Power Project in Pabna

By Saur News Bureau/ Updated On Fri, Sep 2nd, 2022

Highlights :

Bangladesh Power Development Board (BPDB) has made the revelation in a filing before Dhaka Stock Exchange.
ISPL had invested $55 million over a land area of 110 acres for the development of the solar power plant employing more than 78,000 panels.

Bangladesh Operationalises 30 MW Solar Power Project in Pabna

Giving a reasonable push to the renewable energy development in the country, the Bangladesh Power Development Board (BPDB) has revealed in a filing before Dhaka Stock Exchange that a solar power project with a capacity of 30 MW is operationalised in the northern region of Bangladesh.

Intraco Solar Power Ltd. (ISPL) has developed the said project. ISPL is a subsidiary of Paramount Textile that delves into the textile production business. The company had started investing in renewable energy.

The green energy generated from the solar power plant will be purchased by BPDB at a rate of $0.16/kWh. The deal is for a period of 20 years. ISPL had invested $55 million over a land area of 110 acres for the development of the solar power plant employing more than 78,000 panels.

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According to reports, Paramount Textile will be earning revenues of about $9 million every year from the solar power facility. The textile player has plans to make more investments in the renewable energy sector.

Paramount Textile had revealed in April its plans to purchase a 49 per cent stake in Dynamic Sun Energy Private and enhance the development of a 100 MW solar power project that will lie in the Pabna district in north-west. It will be a grid-connected solar power facility that will be built with a cost of over $153 million. India’s Shapoorji Pallonji Infrastructure Capital Co. is the largest shareholder in Dynamic Sun. BPDB will purchase the electricity from this plant as well.

Bangladesh’s Renewable Energy Goals

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Bangladesh aims at producing 40% of its energy from renewable energy sources by 2040. At present, it generates about 910 MW of its power from renewable sources. The government recently issued the National Solar Energy Roadmap (SREDA) draft that targets about 40 GW of solar power in which 40 per cent will come from rooftop installations.

According to Global Climate Scope, considering the huge presence of water bodies in Bangladesh, about 15 GW of floating solar installations could be realised.