Hero Future Energies prepares first Indian financial investment in Bangladesh grid scale solar

• The New Delhi-based designer is intending a 50 MW plant after the 100 MW facility originally proposed was prevented by the power emptying equipment offered at the Khulna website.

Hero Future Energies has actually suggested a 50 MW solar power plant in the Khulna district of southwestern Bangladesh which would involve the lowest solar energy tariff supplied to a non-publicly-procured grid scale solar project in the nation.

The project, if concurred by Bangladesh's cupboard committee on government purchases, would certainly additionally note the first Indian financial investment in utility scale solar in its northeastern neighbor.

The New Delhi-based solar designer, part of the Hero Motors Company group, negotiated a tariff of $0.1025/ kWh (Rs7.5473), according to government officials.

A Bangladesh Power Development Board official claimed the recommended project would certainly cost around $50 million (Rs368 crore).

Hero Future Energies initially imagined a 100 MW project at the website however needed to cut in half the scale because of the ability of power emptying facilities offered.

Tariffs

The most affordable solar tariff granted in Bangladesh to date was the $0.065/ kWh agreed for the $13.25 million, government-owned, 7.4 MW facility built in Rangamati area by Chinese business ZTE Corporation, which came online a year ago. That plant was financed by the Asian Development Bank.

The Hero Future Energies site mentions the firm wants to expand its solar and wind project portfolio to 5 GW by 2022. "The company aspires concerning taking advantage of the incredible chances that hinge on both domestic and abroad markets along with brand-new modern technologies, particularly storage, hybrid projects etc," specifies the site.

Of the 34 solar projects accepted by the Bangladeshi federal government, 26 have actually originated from the private sector. 4 plants have actually come online as part of the nation's 649 MW of clean power generation facilities, 11 are at the construction phase and also 19 are under development.

The government is going for 10% of its generation mix to come from renewables by next year. Of the projects already installed, 330 MW originates from off-grid solar house systems as well as 318.77 MW from grid-connected facilities.