A joint venture of Fujian Yongfu Power Engineering Co Ltd of China, Air Waves Pvt Limited and Moni Traders Limited will set up a 70MW solar power plant in Bandarban from which the BPDB will buy per unit of power at $9.99 – equivalent to Tk10.96 – for a period of 20 years.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid has urged the International Solar Alliance (ISA) to come up with an effective programme to help member countries promote solar energy. "The ISA should be a center of innovative technology to support the expansion of solar power," he said.
A consortium of Japanese Sumitomo Corporation and Parker Bangladesh is setting up a 200MW solar power plant – composed of a 50MW floating and a 150MW ground-mounted units – in the Barapukuria coal mine area in the north-western Dinajpur district.
"Renewables, especially solar projects, have some specific challenges. It needs huge land and it's difficult to implement in a country like Bangladesh where there is land scarcity," said Nasrul Hamid. But these changes could be addressed through technological advancement, he added.
"We have signed memorandums of understanding with large Indian companies. This will be the cheapest form of electricity for Bangladesh, cheaper than even natural gas-based power," group Chairman Aziz Khan told Reuters.
Despite the significant increase in national grid capacity – which now exceeds 25,000MW, far surpassing the demand of approximately 15,000MW – industries are increasingly finding alternative energy sources like solar power more attractive.