星期一, 十一月 23, 2020
Home PV News ADB plus Canadian and German funds back 35 MW project in Bangladesh

ADB plus Canadian and German funds back 35 MW project in Bangladesh

The government in Dhaka hopes plans for the Spectra Solar Project, and the international backing for it, will help showcase the attractiveness of solar investment in the country for private sector money.

Source:pv magazine

The Asian Development Bank (ADB) and the governments of Germany and Canada are financing a 35 MW solar plant in Bangladesh.

The multilateral lender announced details of the investment package for the planned, $17.7 million Spectra Solar Power Project yesterday.

The ADB and the Canadian government-financed Canadian Climate Fund for the Private Sector in Asia II cash pot the lender administers will provide loans for the project. The Deutsche Investitions und Entwicklungsgesellschaft (DEG) subsidiary of German state-owned development lender KfW Group will co-finance the solar project, according to the ADB, which issued a statement which did not reveal how much of the financing each party would provide.

The Spectra Solar Project is expected to generate 50 GWh of solar power annually for the grid. The Bangladeshi government – which recently bemoaned a lack of private sector investment in solar as one of the reasons for turning to Chinese funding for the nation’s clean energy infrastructure – will hope the Spectra project and the involvement of the ADB will attract further private sector cash.

“This project strongly demonstrates that the solar energy sector in Bangladesh is an attractive destination for private sector engagement,” said the ADB’s Shantanu Chakraborty, in the press release issued by the lender.

The Green Delta Capital subsidiary of Bangladeshi firm Green Delta Insurance Co acted as lead arranger for the project.

“ADB’s financing, with co-financing by DEG in this project, will help to scale up solar projects and unlock foreign investments for renewable energy in Bangladesh,” said Md Rafiqul Islam, CEO and managing director of Green Delta Capital.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Capital Dynamics subsidiary acquires 316-MW solar project portfolio

Capital Dynamics’ Clean Energy Infrastructure (CEI) business has completed the purchase of three solar PV projects from LS Power. Simultaneously CEI completed the placement...

IMO FireRaptor now UL-listed for rapid shutdown with SMA inverters

IMO announced the FireRaptor’s latest UL PVRSS listing with the SMA Sunny Boy range of solar inverters from 3 kW to 7.7 kW and...

Savion sells 30-MW Virginia solar project to Falck Renewables and Eni US

Savion announced it has reached a definitive agreement to sell the Westmoreland Solar Project in Westmoreland County, Virginia. Falck Renewables North America and Eni...

CALSSA calls for ten legislative actions to drive solar + storage growth in California

The California Solar and Storage Association (CALSSA) released a new report “Shovel Ready for Recovery: A Blueprint for Jobs and Economic Recovery Through Local...