Infrastructure Development Company Limited (IDCOL) has financed the first rooftop solar project of Hatil Complex.
The 2.67 MWp project will be implemented on the factory rooftops of Hatil Complex, located at Kashimpur, Gazipur, reads a press release.
The total cost of the project is Tk17.78 crore. Under the facility agreement, IDCOL is providing a concessional loan of Tk14.23 crore to Hatil Complex. The project is expected to be operational by April 2023.
The rooftop solar project is part of the ongoing green initiatives of Hatil Complex to use environment-friendly technologies and become less dependent on grid electricity by using renewable energy sources.
The electricity produced from this project will reduce Hatil Complex’s electricity bills. In addition, the project owner can export unutilised electricity generated from the project to the national grid as per the Net Metering Guideline 2018.
Currently, the unit cost of electricity from rooftop solar is less than Tk7, making the investment financially attractive.
Under its Rooftop Solar Financing Scheme, IDCOL plans to finance 300 MWp of solar PV installations on industry rooftops by 2025.
On this occasion, Executive Director & CEO of IDCOL Alamgir Morshed said: “IDCOL has set a target to finance 300 MWp rooftop solar projects by 2025. Accordingly, IDCOL is not only providing concessionary loan facility but also providing technical assistance to borrowers of rooftop solar projects.”
The signing ceremony was attended by Executive Director & CEO, IDCOL Alamgir Morshed, Deputy CEO & CFO, IDCOL SM Monirul Islam, Head of Renewable Energy Md Enamul Karim Pavel along with other officials of IDCOL.
Managing Director, Hatil Complex Selim H. Rahman, Company Secretary, Hatil Complex Rezaul Karim. and other officials of Hatil Complex were also present during the ceremony.
