- Norway-based Scatec Solar has signed a memorandum of understanding (MOU) with the Bangladesh Economic Zones Authority to develop a solar power plant
- The company plans to set up an 800 MW solar power park, which is planned to be located on 3,002 acres of land in Chandpur district, Bangladesh
- The project is expected to cost a total of $1 billion
Norwegian solar power project developer Scatec Solar is planning to develop an 800 MW solar power plant in Bangladesh. It has already signed a memorandum of understanding (MOU) with the Bangladesh Economic Zones Authority (BEZA).
Referring to a press statement released by BEZA, local news portal Dhaka Tribune stated that the total investment to set up the project is expected to be $1 billion. The plant will be located on 3,002 acres of land in Chandpur.
Last February, the Norwegian company signed a MOU with local diversified business group AK Khan & Co. Ltd. Both the firms have agreed to co-develop several large-scale solar projects across the Asian nation.
In 2017, Scatec Solar achieved financial closure for 800 MW of new PV plants. Across the Americas, Africa and Asia, the company revealed it had project opportunities of about 2.8 GW on the books. Back then, it revealed that it was venturing into Southeast Asia and had a 50 MW project that was awaiting approval (see Scatec Solar Improved Revenues In 2017).
Bangladesh is aiming to increase the share of renewable energy in its total energy mix to 10% by 2020.