ADB signs loan package to back 35 MW Spectra Solar Power Plant in Paturia
Asian Development Bank (ADB) has signed an agreement with Spectra Solar Park Limited (SSPL), a special purpose vehicle owned by Spectra Engineers Limited (SEL) and Shunfeng Investments Limited (SIL), to finance the 35 MW solar project in Bangladesh.
The Spectra Solar Power Plant is in Paturia, Manikgonj District, located some 85 kilometers (52.8 miles) of Bangladesh’s capital Dhaka.
ADB's assistance will comprise a senior loan of up to US$15 million; and the administration of a loan of up to US$5 million from the ADB-administered Canadian Climate Fund for the Private Sector in Asia II (CFPS II). ADB is co-financing with Germany’s DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH.
SSPL is the borrower for the loan and will build, own, and operate the project. SEL owns 80% of SSPL and SIL owns the remaining 20%.
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