Economic Reporter :
As part the government’s move to increase the ratio of renewable energy in the country, Bangladesh Power Development Board (BPDB) on Thursday signed a contract with privately owned Teesta Solar Limited, a sister concern of BEXIMCO Group, for procuring 200 megawatt (MW) solar electricity.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid witnessed the contract signing ceremony as the chief guest and said that the government with a view to fulfilling its target of raising the ratio of renewable energy to 10 percent of the total power generation by 2021 has already undertaken various initiatives.
“Currently, the world is moving for clean energy, so we have to follow it,” he said this at the contract signing function at Bidyut Bhaban in the city.
Nasrul said the United Kingdom and Sweden along with some other countries have already transformed their motor vehicles into electric charge vehicles instead of oil dependency. He said the government has fixed the goal of providing electricity to all by 2021 at a reasonable and affordable price.
The state minister said some 2,500 MW electricity would be added to the national grid from next year, while currently the power generation capacity reached to 15,821 MW.
BPDB secretary Mina Masud Uzzaman and Managing Director of Teesta Solar Limited M Rafiqul Islam signed the Power Purchase Agreement, while Sheikh Faezul Amin, joint secretary of power division and M Ashraf Hossain, company secretary of Power Grid Company of Bangladesh (PGCB) signed the Implementation Agreement on behalf of their respective sides.
According to the contract, Teesta Solar Limited would construct a 200-MW Sundarganj Solar Power Plant at Latshal, Sundorgonj in Gaibandha within 18 months. The company would also supply electricity to the national grid at a rate of $ 0.15 kilowatt per hour for 20 years under the ‘no electricity no payment method.’
The company has employed world class technical consultants to ensure the smooth development of the project. Built on an area of approximately 1,000 acres, the plant will use state-of-the-art technology, the contract details said.
It said in the present era of adverse climate change, there is a growing concern against the use of fossil fuel in power generation. In this regard, renewable sources like solar energy hold the key to the future. Keeping this in mind, the government has targeted to produce at least 10 percent of its power from renewable sources by 2021, majority of which will come from solar.
In line of this, BEXIMCO Group has come forward to install the largest grid-tied solar PV power plant through special Purpose Vehicle (SPV) Company Teesta Solar Limited.
Among others, power division secretary Dr Ahmed Kaikaus and BPDB chairman Khaled mahmood were also addressed the contract signing ceremony.
As part the government’s move to increase the ratio of renewable energy in the country, Bangladesh Power Development Board (BPDB) on Thursday signed a contract with privately owned Teesta Solar Limited, a sister concern of BEXIMCO Group, for procuring 200 megawatt (MW) solar electricity.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid witnessed the contract signing ceremony as the chief guest and said that the government with a view to fulfilling its target of raising the ratio of renewable energy to 10 percent of the total power generation by 2021 has already undertaken various initiatives.
“Currently, the world is moving for clean energy, so we have to follow it,” he said this at the contract signing function at Bidyut Bhaban in the city.
Nasrul said the United Kingdom and Sweden along with some other countries have already transformed their motor vehicles into electric charge vehicles instead of oil dependency. He said the government has fixed the goal of providing electricity to all by 2021 at a reasonable and affordable price.
The state minister said some 2,500 MW electricity would be added to the national grid from next year, while currently the power generation capacity reached to 15,821 MW.
BPDB secretary Mina Masud Uzzaman and Managing Director of Teesta Solar Limited M Rafiqul Islam signed the Power Purchase Agreement, while Sheikh Faezul Amin, joint secretary of power division and M Ashraf Hossain, company secretary of Power Grid Company of Bangladesh (PGCB) signed the Implementation Agreement on behalf of their respective sides.
According to the contract, Teesta Solar Limited would construct a 200-MW Sundarganj Solar Power Plant at Latshal, Sundorgonj in Gaibandha within 18 months. The company would also supply electricity to the national grid at a rate of $ 0.15 kilowatt per hour for 20 years under the ‘no electricity no payment method.’
The company has employed world class technical consultants to ensure the smooth development of the project. Built on an area of approximately 1,000 acres, the plant will use state-of-the-art technology, the contract details said.
It said in the present era of adverse climate change, there is a growing concern against the use of fossil fuel in power generation. In this regard, renewable sources like solar energy hold the key to the future. Keeping this in mind, the government has targeted to produce at least 10 percent of its power from renewable sources by 2021, majority of which will come from solar.
In line of this, BEXIMCO Group has come forward to install the largest grid-tied solar PV power plant through special Purpose Vehicle (SPV) Company Teesta Solar Limited.
Among others, power division secretary Dr Ahmed Kaikaus and BPDB chairman Khaled mahmood were also addressed the contract signing ceremony.
