The project will be developed on a build-own-operate (BOO) basis under a 20 years’ concession agreement.
The Bangladesh Power Development Board (BPDB) had earlier announced the consortium as the lowest bidder with a competitive tariff of $0.0748/kWh — the lowest tariff ever reported in Bangladesh states the company.
According to the company, the consortium will build the power project in Rangunia, Chattogram, on the land provided by the power board and plans to commission the project by the second half of the year 2021.
Renewable energy in the form of biomass is the main source of primary energy in the country, comprising about 35-60% of total primary energy use. As reported previously by Mercom, Bangladesh has a target to install 2.47 GW of renewable energy projects by 2021. A significant amount of this capacity will be developed through solar and wind projects.
Recently, it was reported that the International Finance Corporation, the financial arm of the World Bank, collaborated with the Sustainable and Renewable Energy Development Authority (SREDA) of Bangladesh to develop a 35 MW solar project. This partnership will see the development of the solar power plant in the Kushtia district of the country. The pilot project, which is to be developed on a public-private partnership (PPP) model, will be developed through competitive bidding and will showcase the project as a viable model of a solar power project in Bangladesh involving the private sector.
In December 209, the Electricity Generation Company of Bangladesh Limited (EGCB), an enterprise of Bangladesh Power Development Board, floated a tender for 50 MW (AC) of solar power projects at Sonagazi located in the country’s Feni district. According to the tender document, Bangladesh has received financing from the World Bank towards the cost of the Scaling-up Renewable Energy Project. It intends to apply part of the fund for the 50 MW solar project at Sonagazi.
Image credit: Greenskies
Anjana is a news editor at Mercom India. Before joining Mercom, she held roles of senior editor, district correspondent, and sub-editor for The Times of India, Biospectrum and The Sunday Guardian. Before that, she worked at the Deccan Herald and the Asianlite as chief sub-editor and news editor. She has also contributed to The Quint, Hindustan Times, The New Indian Express, Reader’s Digest (UK edition), IndiaSe (Singapore-based magazine) and Asiaville. Anjana holds a Master’s degree in Geography from North Bengal University, and a diploma in mass communication and journalism from Guru Ghasidas University, Bhopal.