Bangladesh’s largest conglomerate Beximco Group has formed an alliance with the Chinese company TBEA Xinjiang Sunoasis Co Ltd for setting up a 200 MW (AC) solar power plant in Gaibandha. The companies have signed a joint venture named Teesta Solar Limited (TSL). Around 80 per cent share of the venture will be held by Beximco Group, while the remaining 20 per cent will be owned by the Chinese company.
TSL recently signed a power purchase agreement with Power Development Board (PDB). According to the agreement, PDB will purchase the electricity generated at TSL’s solar power plant for the next 20 years. The agreement has also fixed the tariff for electricity at 15 US cents/kWh. For the new solar power project, TSL has also finalized another implementation agreement with Power Grid Company of Bangladesh (PGCB) Limited, as well as with the Ministry of Power, Energy and Mineral Resources.
On the behalf of PDB, the company’s Secretary Mina Masud Uzzman signed the PPA, while TSL Managing Director M Rafiqul signed the agreement for the Beximco group-owned venture. Joint Secretary of Power Division, Sheikh Faezul Amin and the Company Secretary of PGCB, M Ashraf Hossain signed the implementation agreement on their respective sides’ behalf.
A grand event was organized at Bidyut Bhaban in Bangladesh’ capital Dhaka, to mark the finalization of the agreement, where the State Minister for Power, Energy and Mineral Resources Nasrul Hamid was present as chief guest. Other eminent personalities present at the event included the Beximco Group Chairman ASF Rahman, Beximco Group Vice Chairman Salman F Rahman, PDB Chairman Kahled Mahmood, and Dr Ahmed Kaikus, Secretary of the Power Division.
During his address to the gathering, Dr Kaikus claimed that solar power, along with other sources of renewable energy, hold the key to the future. He said, “We have targeted to generate at least 10% power from renewable sources by the year 2020, majority of which will come from solar panels.”
TSL Managing Director M Rafiqul told the Dhaka Tribune that the Gaibandha solar plant will lead to great socio-economic changes in Sundarganj upazila by uplifting the existing communication infrastructure of the area, since more roads will be built to enhance connectivity with the project site. “Moreover, a project of this size will create hundreds of employments,” Rafiqul said.