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Dhaka Tribune

One Bank arranges syndicated IPFF II Facility of $17.8m for Technaf Solartech

Technaf Solartech has been operating a 20 MW national grid-tied solar power plant located on the shores of the Naf River in Teknaf

Update : 20 Mar 2022, 08:14 PM

One Bank has recently arranged a syndicated IPFF II Facility of $17.78 million for Technaf Solartech Energy Limited, a concern of Expo Group.

Investment Promotion and Financing Facility II (IPFF II) is a project of the Government of Bangladesh, with the financial support of the World Bank for creating a sustainable platform for low-cost long-term financing in infrastructure and strengthening skills and abilities of the private sector to bridge the substantial infrastructure gap in Bangladesh where Bangladesh Bank (BB) acts as the Project Implementation Unit (PIU).

According to a press release, Bangladesh Infrastructure Finance Fund Limited (BIFFL) and One Bank Limited (OBL) has jointly participated in the subject finance in USD for 13 years through syndication led by OBL. 

Technaf Solartech has been operating a 20 MW national grid-tied solar power plant located on the shores of the Naf River in Teknaf under a Power Purchase Agreement with the Bangladesh Power Development Board for 20 years. 

Over this period, TSEL is expected to achieve carbon emission savings of approximately 400,000 tons. The average annual yield is 38,000 MWh and the power supply will cover up to 80% of the present electricity demand of the entire Teknaf region.


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