The second part of our hidden champions series head to Bangladesh, where rapid industrialization is driving increased electricity demand. Already a major off grid market, Bangladesh is seeing increasing interest from international investors and is taking the first steps toward realizing its formidable potential for large scale solar installations.
Minister unveils plan to install small-scale systems on all educational buildings as part of aim to generate 10% of power from renewables by next year. The program will be privately funded, according to industry insiders.
Big names in the running for 45-55 MW project in Chittagong as developers scramble to take advantage of an income tax exemption for clean energy investment that is due to expire this year.
The body responsible for the installation of more than 4 million residential PV installations has asked its government masters to provide interest-free financing for its program and Dhaka is considering the proposal.
Plans are back on track for what the authority intends to be the first of many solar installations, after potential bidders complained in January that the proposed contract was not viable.
A 7.4 MW solar plant will start generating electricity next month in Rangamati, in Bangladesh’s Chittagong Division.
The infrastructure company will provide $100 million to develop the plant in the country’s Feni district, which is a draw for solar developers because of designated economic zones being planned there.
Multilateral lender hopes to leverage $212 million more from the private sector as falling solar development costs make renewables more attractive. A solar plant with a 50 MW capacity in Feni will be one of the first to benefit from the new funds.
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