Infrastructure Development Company Limited (Idcol) has officially resumed its financing support for Solar Irrigation Pumps (SIPs) with a renewed strategy and structure, marking a significant step toward decarbonizing Bangladesh’s agricultural sector.
To commemorate this milestone, Idcol hosted a signing ceremony on Tuesday at its Multipurpose Conference Hall in Dhaka.
The event celebrated Idcol’s partnership with WAVE Foundation, which has received approval of Tk34.9 crore in financing, supported by KfW, Germany, for the implementing 56 SIPs, including 39 grid-integrated sites across Chuadanga, Jhenaidah, and Kushtia.
This initiative aligns with the government’s mandate to reduce dependency on fossil fuels and promote sustainable agricultural practices.
Alamgir Morshed, executive director & CEO of Idcol, delivered welcome remarks, highlighting Idcol’s long-term commitment to deploying 10,000 SIPs by 2030.
The ceremony was graced by the presence of Michael Sumser-Hellstern, director of the KfW office in Bangladesh, as a special guest.
Other distinguished guests on stage included Engr. Md. Muzibur Rahman, director of Sreda; Tazmilur Rahman, senior assistant secretary, Renewable Energy Wing, Power Division, Ministry of Power, Energy and Mineral Resources; Md Tazmilur Rahman, deputy director, KfW Office in Bangladesh; and Mohammed Jabed Emran, chief risk officer, Idcol.
Representatives from various NGOs and private sector entities engaged in the solar irrigation industry also attended the event to accelerate the country’s transition toward sustainable and renewable energy solutions.
The program featured a presentation on SIPs, experience sharing by WAVE Foundation, and remarks from guests, followed by the formal signing ceremony.
SM Monirul Islam, deputy CEO & CFO at Idcol, concluded the event with a vote of thanks, reaffirming their dedication to fostering inclusive, climate-resilient development.
With 1,495 SIPs already financed, representing 42% of the market share, Idcol continues to lead the transition toward clean energy in agriculture.
These solar-powered pumps are directly irrigating over 34,445 hectares of land during the paddy season, benefiting more than 70,000 farmers across the country.
By replacing approximately 17,234 diesel-powered pumps, Idcol’s initiative is significantly reducing carbon emissions, lowering irrigation costs for farmers, and contributing to a more sustainable and energy-secure future for Bangladesh’s agriculture.
The organization remains committed to empowering stakeholders and expanding access to renewable energy solutions across Bangladesh.
Idcol remains dedicated to empowering stakeholders and expanding access to renewable energy solutions across the country.
The organization looks forward to further collaborations with development partners, financial institutions, and local implementers to accelerate Bangladesh's green transformation.