- A consortium of Germany’s ib vogt and Bangladesh’s AG Agro Industries Ltd will develop a 50 MW solar project in Bangladesh
- The two companies will work on the grid-tied project to be located at Baroiarhat in Mirsharaiupazila in Chittagong
- BPDB will purchase power generated by the solar project at a tariff of BDT 8.75 per kWh for a period of 20 years
German solar power project developer ib vogt GmbH has secured rights to develop a 50 MW grid-tied solar power plant in Bangladesh in a consortium with local AG Agro Industries Ltd. The consortium won a 20-year contract with the Bangladesh Power Development Board (BPDB) to supply at a tariff of BDT 8.75 ($0.10) per kWh, reported the Dhaka Tribune.
Both the winners will develop the project in Mirsharaiupazila, Chittagong on a build-own-operate (BOO) basis on the condition of ‘no electricity, no payment’. It was approved in a meeting of the Cabinet Committee on Public Purchase with the country’s Finance Minister AHM Mustafa Kamal.
Bangladesh aims to have 10% of its total electricity coming from renewables by 2020 and 6 GW of renewables capacity by 2041. According to the World Bank that shelled out a $185 million loan in March 2019 to help add 310 MW of renewable energy in the country, the share of renewable energy in the national grid supply is only 1.5% (see World Bank’s $185mn For Bangladesh RE).