BRAC Bank PLC and the Infrastructure Development Company Limited (IDCOL) have jointly financed a 64.55-megawatt solar power plant in Pabna, one of the largest of its kind in Bangladesh.

The $67 million term loan facility was completed with BRAC Bank contributing $22 million and IDCOL $45 million, according to a statement issued on Friday. The plant, operated by Bangladesh China Renewable Energy Company Limited (BCRECL), has already begun supplying power to the national grid, advancing the country’s clean energy ambitions.

BCRECL is a joint venture between North-West Power Generation Company Limited and China National Machinery Import and Export Corporation.

BRAC Bank’s Managing Director and CEO, Tarek Refat Ullah Khan, stated that the project exemplifies the strength of public-private partnerships in promoting sustainable infrastructure. IDCOL CEO Alamgir Morshed described the solar park as a milestone for Bangladesh’s efforts to curb carbon emissions.

The announcement was made at an event at the InterContinental Dhaka, attended by Bangladesh Bank Governor Ahsan H. Mansur, the World Bank’s South Asia operations manager, Gayle Martin, German Ambassador Rüdiger Lotz, and senior officials from the partnering organisations.