Bangladesh Signs Agreement with Saudi-Based Alfanar for 100 MW of Solar Power Projects

The solar projects will be developed in Feni district of Bangladesh


The Electricity Generation Company of Bangladesh (ECGB) and Alfanar of Saudi Arabia have signed an agreement for the construction of 100 MW of solar power projects.

The total capacity of 100 MW is divided into two 50 MW solar projects, and they will be developed as a joint venture project at Sonagazi in Feni district of Bangladesh.  The memorandum of understanding (MoU) for the project was signed in October 2018.

Bangladesh has become an attractive investment destination for solar projects in the Indian subcontinent.

Recently, Mercom reported that the World Bank had approved $185 million to facilitate 310 MW of renewable energy generation capacity in Bangladesh to meet the growing demand for electricity in the country. The funding is also expected to encourage private sector participation in developing renewable energy projects in the country.

Last month, Bangladesh’s Power Development Board announced a tender for 50-60 MW of grid-connected solar PV projects at Rangunia, Chattogram. The projects will be developed on a build, own operate basis for 20 years.

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.

In October 2018IIX 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.