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.
U.K. developer Lightsource BP – in which oil and gas giant BP has a significant minority stake – and its Singapore fund partner EverSource Capital are reportedly ready to take up all the $100 million slice of Ayana Renewable Power which is being put up for sale.
Through the procurement, the Bangladesh Power Development Board is seeking developers for the construction of grid-connected solar power plants on a build, own, operate basis.
The joint venture with agro business Anand Group would see the project installed at the northern fringe of the nation’s grid network and would represent a sizable leap forward in a country where the largest PV scheme has a 20 MW capacity.
With electric three-wheelers operating in the nation’s rural areas, it is hoped registering them will help encourage wider adoption.
With the nation’s net metering regime up and running for industrial generators, the government is trying to drum up interest and wants another 600 customers signed up by June, with the help of a soft loans program.
Backing from the Asian Development Bank will help a 50 MW project get off the ground – and onto the water – in Chittagong, and a developer has been lined up to install solar on a stretch of the Padma river.
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