ADB funds 100-MW solar project in Bangladesh
- ADB secures financing for 100-MW solar project in Bangladesh, with support from ILX Fund I and Japan International Cooperation Agency. Dynamic Sun Energy leads the charge towards renewable energy.
The Asian Development Bank (ADB) has arranged financing for a 100-MW grid-connected solar power project in Pabna, Bangladesh. The project is being supported by a total financing package of USD 121.55 million, with ADB providing a loan of USD 46.75 million. Amsterdam-based ILX Fund I is contributing a syndicated B-loan of USD 28.05 million, while Japan International Cooperation Agency is providing a syndicated parallel loan of USD 46.75 million.
The borrower for the project is Dynamic Sun Energy Private Limited, a unit of Paramount Textile Plc. Paramount Textile invested in Dynamic Sun Energy in 2022 to be a part of the solar project. This initiative is expected to contribute to the development of renewable energy in Bangladesh and help in reducing the country's dependence on fossil fuels.
What is the financing package for the 100-MW solar power project in Pabna, Bangladesh?
- The financing package for the 100-MW solar power project in Pabna, Bangladesh includes a total of USD 121.55 million.
- The Asian Development Bank (ADB) is providing a loan of USD 46.75 million for the project.
- Amsterdam-based ILX Fund I is contributing a syndicated B-loan of USD 28.05 million.
- Japan International Cooperation Agency is providing a syndicated parallel loan of USD 46.75 million.
- The borrower for the project is Dynamic Sun Energy Private Limited, a unit of Paramount Textile Plc.
- Paramount Textile Plc invested in Dynamic Sun Energy in 2022 to be a part of the solar project.
- The financing package is aimed at supporting the development of renewable energy in Bangladesh and reducing the country's dependence on fossil fuels.
