A 100-megawatt solar power plant will be constructed in Madarganj, Jamalpur district, as part of a joint venture between China’s CREC International Renewable Energy Company and Bangladesh’s state-owned B-R Powergen Limited (BRPL). The $170 million project is slated for completion by December 2025.

The joint venture (JV) agreement was signed on Thursday at Biduyt Bhaban in Dhaka.

Under the terms of the agreement, CREC International will hold a 70% stake, while BRPL, a subsidiary of the Bangladesh Power Development Board and the Bangladesh Rural Electrification Board (REB), will control the remaining 30%.

Md Habibur Rahman, Senior Secretary of the Power Division under the Ministry of Power, Energy, and Mineral Resources (MPEMR), attended the signing ceremony as the chief guest.

Rahman expressed optimism that Bangladesh will be able to generate around 1,200 megawatts (MW) of electricity from renewable sources by 2030, aligning with global shifts towards green energy to mitigate climate change.

“The government aims to produce 40% of the country’s electricity from clean energy by 2040,” Rahman stated, urging the sponsor company to adhere to the project timeline.

The project also includes a comprehensive rehabilitation plan for 241 families, with provisions for constructing a primary school, health center, mosque, market, pond, and graveyard.

In a separate event, the Bangladesh University of Engineering and Technology (BUET) launched the Infrastructure Development Company Limited (IDCOL)-financed Rooftop Solar Project (BRSP) on its campus. The official ceremony for the project’s commercial operation date (COD) was held at BUET’s auditorium.

The 3.27-megawatt-peak (MWp) BRSP, a collaborative initiative between BUET and GPPS Consortium Ltd., is expected to deliver significant cost savings.

The project, funded by IDCOL, is anticipated to reduce BUET’s electricity expenses by approximately Tk 600 million over the next 30 years.

The event, chaired by BUET Vice-Chancellor Prof. Dr. Satya Prashad Majumder, featured prominent guests, including IDCOL’s Executive Director and CEO Alamgir Morshed, Deputy CEO and CFO S.M. Monirul Islam, Managing Director of PEGEL (a major shareholder of GPPS Consortium Ltd) Asma Jahan Hoque, and BUET Pro-VC Dr. Abdul Zabbar Khan.

IDCOL’s leadership praised the BRSP as a significant advancement for renewable energy within Bangladesh’s educational sector. They emphasized the project’s alignment with the government’s commitment to clean energy and reducing dependence on fossil fuels.

Professor Majumder expressed gratitude to IDCOL for their financial support, which was instrumental in realizing this ambitious project. He also commended the GPPS Consortium for their successful project execution despite facing various challenges.