Financing announced for 100 MW Solar PV project in Bangladesh
The Asian Development Bank (ADB) has signed a US$121.55 million financing package with Dynamic Sun Energy Private Limited to build and operate a 100 MW grid-connected solar photovoltaic power plant in Pabna, Bangladesh.
ADB arranged, structured, and syndicated the debt package as the sole mandated lead arranger and bookrunner. The financing package comprises a US$46.75 million loan from ADB, a syndicated B-loan of US$28.05 million from ILX Fund I, and a syndicated parallel loan of US$46.75 million from the Japan International Cooperation Agency.
Dynamic Sun Energy has entered into a 20-year Power Purchase Agreement (PPA) with the Bangladesh Power Development Board (BPDB) to provide electricity to the national grid. Under this agreement, the BPDB will procure electricity from the plant at a rate of US$0.1195/kilowatt-hour.
The project will generate approximately 193.5 GWh of electricity annually and avoid 93,654 tons of carbon dioxide emissions annually. The solar farm is also expected to play a key role in Bangladesh's goal of achieving net zero greenhouse gas emissions by 2070.
Country news
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March 06, 2019
World Bank to invest US$185 million in renewable energy development in Bangladesh
The World Bank has announced that it has approved a US$185 million investment to add up to 310 MW renewable energy generation capacity in Bangladesh and mobilize private sector participation to meet the growing demand for electricity in the country.
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May 08, 2018
Joint venture agreement signed for 1,320 MW coal-fired power project in Bangladesh
Bangladesh Power Development Board (BPDB) and China Huadian Hong Kong Company Ltd (CHDHK) have signed a joint venture agreement to construct a 1,320 MW coal-fired power plant in Maheshkhali, Cox's Bazar, a district in the south-east of Bangladesh. The estimated cost of the project is US$2 billion.
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March 27, 2018
Contract framework agreement signed for 2000 MW coal-fired power plant in Bangladesh
GCM Resources, a London-based resource exploration and development company, has announced that it has agreed a Contract Framework Agreement with China Gezhouba Group International Engineering Co. (CGGC) which awards CGGC the exclusive right for the engineering, procurement, construction, and commissioning of a proposed 2,000MW mine-mouth thermal power plant which is part of GCM's Phulbari Coal and Power Project in north-west Bangladesh.
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March 20, 2018
MoU signed for US$3 billion LNG-power project in Bangladesh
Summit Power International has announced that its subsidiary Summit Corporation Limited has signed a Memorandum of Understanding (MoU) with Mitsubishi Corporation and its subsidiary Diamond Gas International to develop a LNG-to-Power project in Matarbari, Moheskhali, Bangladesh, which is expected to cost up to US$3 billion.
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March 08, 2018
MoU signed for 2.4 GW nuclear project in Bangladesh
Rosatom, a Russian state corporation that specialises in nuclear energy, has signed a Memorandum of Understanding (MoU) with the Department of Atomic Energy of the government of India and the Ministry of Science and Technology of the government of Bangladesh regarding the development of the Rooppur nuclear power plant, to be located in the Pabna district of Bangladesh.
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