Context

The government of Bangladesh (GOB) has set a target of securing 40% electric energy generation capacity using renewable energy sources by 2041. GOB has undertaken various initiatives to promote renewable energy from different sources like solar, wind, biomass, biogas, and hydro to achieve this target. Among those, solar power has been identified as the source with the most potential for sustainable energy generation. InfraCo Asia Development’s role in supporting development in Bangladesh’s renewable energy sector will be to help establish a world-class approach to the execution and implementation of solar power projects.

The Project

InfraCo Asia Development has formed a joint venture company Green Solar Energy Pte Ltd. in Singapore in partnership with Global Greengen Ltd, a UK company, and Greencells GmBH, from Germany, to pursue a ground-mounted solar project in Bangladesh. InfraCo Asia, along with its partners, has identified certain sites, and in the first phase will submit a proposal to the GOB to request a bankable tariff and project agreements (including Implementation Agreement (IA) and Power Purchase Agreement (PPA), through the unsolicited negotiation process.

Total project cost: Estimated $50M based on 2 portfolio projects with a portfolio capacity of 30MWac.

Our Impact

Impact on Planet and Market transformation: The ground-mounted solar installations will produce 100% solar electricity and support Bangladesh to reduce GHG emissions from the energy sector and diversify its energy mix which is overwhelmingly reliant on fossil fuels (98.60%). The project will also contribute to increasing private sector participation in renewable energy financing, which is currently very limited due to challenging regulatory framework, and limited access to capital and land acquisition.

Impact on users: The ground-mounted solar installations will contribute to meeting the country’s growing energy demand by providing more reliable and sustainable electricity.