Bangladesh Power Development Board Awards IB Vogt & AG Agro Industries Consortium Rights To Develop 50 MW Grid-Tied Solar Project For BDT 8.75/kWh
German Bangladesh Consortium Win 50 MW PV Project
Ib vogt and AG Agro Industries will develop a 50 MW solar power project on a ‘no electricity, no payment’ basis in Bangladesh’s Chittagong region.
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).