Bangladesh’s Power Development Board (BPDB) has announced a tender for 50-60 MW of grid-connected solar PV projects at Rangunia, Chattogram. The projects will be developed on build, own operate (BOO) basis for a period of 20 years.
The project developer will be selected through competitive bidding process. The selected project developer will be required to arrange the financing of the project.
The bidders will have to submit $5,000 (₹3,56,074)/MW as bid security which will later be returned to those bidders who do not meet the required criteria.
The last date for the submission of bids is March 14, 2019.
Each bidder can submit only one bid either as a company or a member of a bidder consortium.
In July 2018, BPDB had tendered 200 MW of solar PV projects to be developed across select locations in the country. Last year, BPDB also entered a 20-year PPA with Teesta Solar Limited, a sister concern of BEXIMCO Group, to procure 200 MW of solar electricity.
Bangladesh has become an attractive investment destination for solar projects in the Indian subcontinent.
In October 2018, IIX global, a Singapore based organization, announced an investment of $1.66 million under Series A round from the IIX Growth Fund, into off-grid solar energy firm SOLshare in Bangladesh.
Bangladesh plans to add 2,500 MW of electricity generation capacity to the grid every year, starting 2018. The Bangladesh government also plans to generate 10 percent of power from renewable sources by 2021.
As a step forward in the same direction, the Asian Development Bank (ADB) announced that it will give $20 million loan to Bangladesh under its Power System Efficiency Improvement Project for the furtherance of off-grid solar solutions in the country.
Moreover, World Bank also recently approved $55 million in financing to expand the use of renewable energy in rural areas of Bangladesh that grid electricity cannot easily reach. The funds will be used to finance the Second Rural Electrification and Renewable Energy Development (RERED II) Project.
Image credit: Flickr
Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer