German Co. Ib vogt tie-up wins 50-MW solar project in BD

October 3 – 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.
Source: Renewables Now, author – Veselina Petrova