Bangladeshi fabrics maker invests in 100 MW solar plant

• The solar park will certainly sell power to the Bangladesh Power Development Board at a price of $0.1195/ kWh under a 20-year power purchase agreement.

Bangladeshi fabrics manufacturer Paramount Textile Ltd (PTL) has actually determined to invest in a solar power plant by getting a 49% stake in Dynamic Sun Energy Private Ltd, in Pabna area in northwestern Bangladesh.

Indian company Shapoorji Pallonji Infrastructure Capital Company Pvt Ltd (SP Infra), the largest investor of Dynamic Sun Energy Pvt Ltd, and also PTL will certainly create a joint venture to set up a 100 MW grid-tied solar power plant in the region. The approximated project expense of the solar power plant is around $150 million, according to a stock exchange disclosure.

In making the decision to obtain the 49% risk in Dynamic Sun Energy, PTL claimed it was taking into consideration business prospects as a part of its profile diversity. Dynamic Sun Energy has actually authorized a 20-year power purchase agreement with the Bangladesh Power Development Board (BPDB) to provide electricity to the nationwide grid.

The BPDB will buy electricity from the plant at $0.1195/ kWh.

Robiul Islam, company assistant of PTL, claimed that Dynamic Sun Energy had already begun some land development service the website, with fullfledge building work set to begin quickly."We are confident to finish the project by this year," he informed the pv magazine.

PTL, mostly involved in the textile organization, is currently engaged in the power field and also has been creating electricity at a 200 MW furnace oil-based power plant in Sirajganj area, under one more joint venture effort.

The company additionally owns a 29% risk in Intraco Solar Power, which is building a 30 MW solar power plant in the Rangpur district in north Bangladesh. The plant is expected to go online in a month or two.

Bangladesh currently has the capacity to generate 787 MW of renewable energy, of which 553 MW originates from solar. The country is aiming to produce 40% of its overall electricity from renewable resources by 2041.