Ib vogt tie-up wins 50-MW solar project in Bangladesh

A tie-up of German solar developer Ib vogt GmbH and AG Agro Industries Ltd has won a competitive tender process for the construction of a 50-MW grid-connected solar park in Bangladesh, it was announced on Wednesday.

The duo will set up the plant in Chattogram, southeastern Bangladesh, on a build-own-operate basis. It secured the project after taking part in a tender launched by state-owned Bangladesh Power Development Board (BPDB), which will purchase the generated electricity for a 20-year period.

The Bangladeshi government’s Cabinet Committee on Public Purchase approved the contract for the project in a meeting on Wednesday. Under its terms, BPDB will buy the output of the photovoltaic (PV) park at USD 0.1094 (EUR 0.999) per kWh.

The government of Bangladesh has set a target for the country to produce 10% of its power from renewable energy sources by 2021. At present, the nation is highly dependent on natural gas for power generation.

(USD 1.0 = EUR 0.914)

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