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.