According to a filing on the Dhaka Stock Exchange last week, Chinese PV manufacturer Longi Solar has signed a deal with Bangladesh's Beximco Group to supply its HI-MO 5 series PV modules to the 200 MW Teesta Solar Limited project, set to be installed in the Rangpur district.
A consortium comprising India-based Rays Power Infra Private Limited and Zetwerk Manufacturing Businesses Private Limited has additionally been tasked with the engineering, procurement, construction, commissioning, and operation and maintenance activities, while Switzerland-based ABB Ltd has been awarded the switchyard and substation contract which includes control solutions, and Bangladesh’s Confidence Infrastructure Limited will be responsible for the construction of the 35.35 km transmission line to the nearest grid substation in the Rangpur district.
Beximco Group says it is also working on another, 30 MW solar project, named Korotoa Solar Limited, which will be built in the Panchagarh district.
Both plants are expected to be commissioned by mid-2022.
To finance the two projects, the company has raised nearly US$400 million by issuing green Sukuk bonds after the country’s central bank recently gave the nation's commercial lenders permission to invest funds into recently introduced green bonds.
Chinese partners TBEA Xinjiang Sunoasis Co. Limited and Jiangsu Zhongtian Technology Co. Limited will also reportedly invest in the projects.
To date, Bangladesh has installed 775.84 MW of renewable electricity plants, of which solar accounted for around 300 MW at the end of 2020, according to IRENA, and a number more are under construction. The government has prepared a roadmap to generate 40% of the country’s total electricity by 2050 from renewables.
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