Paramount Textile invests in 100 MW solar plant in Bangladesh

Paramount Textile Ltd (PTL) has decided to invest in a solar power plant by acquiring a 49% stake in Dynamic Sun Energy Private Ltd, in the Pabna district in northwestern Bangladesh.

Shapoorji Pallonji Infrastructure Capital Company Pvt Ltd (SP Infra), the primary stakeholder in Dynamic Sun Energy Pvt Ltd, and PTL will collaborate to establish a 100 MW grid-connected solar power facility in the area. The anticipated cost of the solar power plant is approximately US$150 million. PTL's decision is part of its strategy to diversify its portfolio, recognizing the promising business prospects. 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.