Teesta Solar Limited (TSL), a joint venture of Bangladesh’s Beximco Power Company Ltd and China’s TBEA Xinjiang Sunoasis Co Ltd has signed a power purchase agreement (PPA) with Power Development Board (PDB) to develop a 200 MW (AC) solar power plant in Gaibandha.
Under the agreement, the PDB will purchase electricity from TSL’s plant for 20 years at the tariff of 15 US cents per kilowatt hour.
Beximco Power will hold 80 % share of the venture while the rest portion will belong to the Chinese firm.
TSL also inked an implementation agreement (IA) with Ministry of Power, Energy and Mineral Resources, and Power Grid Company of Bangladesh (PGCB) Limited in this regard.
PDB Secretary Mina Masud Uzzaman and TSL Managing Director M Rafiqul Islam signed the PPA on behalf of respective companies.
Sheikh Faezul Amin, joint secretary of Power Division and M Ashraf Hossain, company secretary of PGCB, signed the IA on respective sides’ behalf at Bidyut Bhaban in Dhaka, where State Minister for Power, Energy and Mineral Resources Nasrul Hamid was present as chief guest.
ASF Rahman, Chairman of Beximco Group, and Salman F Rahman, vice-chairman of the conglomerate, also attended the event, where Power Division Secretary Dr Ahmed Kaikaus and PDB Chairman Khaled Mahmood addressed, among others.
Claiming that renewable energy like solar power holds the key to the future, Dr Kaikaus said: “We have targeted to generate at least 10% power from renewable sources by the year 2020, majority of which will come from solar panels.”
Meanwhile, Rafiqul told the Dhaka Tribune that the plant will bring multifarious socio-economic changes in Sundarganj upazila of Gaibandha.
He said there will be a great uplift of total communication infrastructure in the area as roads will be built to help connect with the project site.
“Moreover, a project of this size will create hundreds of employments,” said the TSL managing director.