Teesta Solar, a unit of Bangladesh-based holding company Bangladesh Export Import Co. (Beximco), has obtained a 20-year PPA from the local power utility Bangladesh Power Development Board (BPDB) for a 200 MW solar project it aims to build in Latshal, Sundorgonj, in Bangladesh’s Gaibandha district. According to the international consultancy company Mercom, it is the first utility-scale solar project for which a PPA has been signed in the country.
Teesta Solar is expected to build the plant within 18 months. The facility will sell power to BPDB at a price of $0.15 per kWh under the “no electricity no payment method,” according to Mercom.
In late August, Intraco Solar Power also secured a 20-year PPA for a 30 MW solar project to be developed in Pakistan. The facility will deliver power at a price of $0.16 per kWh.
Bangladesh is planning to cover 10% of its power demand with renewables by 2021.