Bangladesh Operationalises 30 MW Solar Power Project in Pabna

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

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

Intraco Solar Power Ltd. (ISPL) has developed the stated project. ISPL is a subsidiary of Paramount Textile that delves into the textile production service. The firm had actually started purchasing 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 duration of two decades. ISPL had actually spent $55 million over an acreage of 110 acres for the development of the solar power plant employing more than 78,000 panels.

According to reports, Paramount Textile will be making earnings of about $9 million annually from the solar power facility. The textile player has strategies to make more financial investments in the renewable energy industry.

Paramount Textile had revealed in April its strategies to purchase a 49 percent stake in Dynamic Sun Energy Private and also boost the development of a 100 MW solar power project that will depend on the Pabna area in north-west. It will certainly be a grid-connected solar power facility that will be constructed 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 also.

Bangladesh's Renewable Energy Goals

Bangladesh targets at generating 40% of its power from renewable energy resources by 2040. Currently, it creates 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 percent will certainly come from rooftop installments.

According to Global Climate Scope, taking into consideration the substantial visibility of water bodies in Bangladesh, concerning 15 GW of floating solar installations could be understood.