Page 12 - AsiaElec Week 24

AsiaElec RENEWABLES AsiaElec

ADB supports utility-scale

solar in Bangladesh

BANGLADESH THE Asian Development Bank (ADB) has the Pacific region.
signed a deal with Spectra Solar Park Ltd (SSPL) “BANGLADESH is committed to combating
to invest $17.7mn (BDT1.33bn) in a 35-MW climate change and increasing energy access
utility-scale solar project in Bangladesh.This is from renewable energy sources. The Spectra
one of the first private sector solar projects in the solar power project establishes important prec-
country to be financed by a multilateral insti- edents for the solar energy sector in Bangladesh
tution and is key to establishing the country’s by adopting international best practices,” said
reputation as an attractive destination for global Mohammad Aftabuddin, managing director of
green finance. SSPL.
DEUTSCHE Investitions- und Entwicklungs- SSPL is a newly established special purpose vehi-
gesellschaft mbH (DEG), a subsidiary of the cle owned by Bangladesh-based Spectra Engi-
KfW Group, is co-financing the project with the neers Ltd (SEL) and Hong Kong-based Shunfeng
ADB. Investments Ltd (SIL).
THE project is going to support the coun- BANGLADESH is pushing forward with utili-
try’s efforts to attain long-term energy secu- ty-scale solar to meet rising power demand.
rity and meet climate goals by adopting clean IN January, the government of Bangladesh
technologies. awarded a 55-MW solar power project to a con-
ONCE operational, the project will provide 50 sortium led by Metito Group together with Jinko
GWh of clean power to the national grid and off- Power and Aljomaih Group.
set 33,200 tonnes per year (tpy) of carbon. MEANWHILE, the International Finance Cor-
“THIS project strongly demonstrates that the poration (IFC) is supporting a 35-MW solar pro-
solar energy sector in Bangladesh is an attractive ject together with the Sustainable and Renewable
destination for private sector engagement. This is Energy Development Authority (SREDA) of
a landmark project that will also incorporate spe- Bangladesh.
cific and important design features to empower THE ADB has already announced a $20mn loan
women and ensure a gender-inclusive work- for Bangladesh as part of its Power System Effi-
place,” said Shantanu Chakraborty, director of ciency Improvement Project for the expansion of
infrastructure finance, South Asia, Central Asia off-grid solar solutions in the country.
and West Asia at ADB. HOWEVER, the government is also turning to
THE funding for the project includes a loan from coal in a bid to meet demand. Bangladesh-China
the ADB and a loan from the ADB-managed Power Company Ltd (BCPCL) in January
Canadian Climate Fund for the Private Sector in opened the first 660-MW unit at the 1,320-MW,
Asia II (CFPS II). coal-fired Payra thermal power plant (TPP).
THE CFPS also has provided a technical assis- PAYRA is now the largest TPP is the country,
tance grant to help in the preparation of the with a second 660-MW unit being built, and will
project and to catalyse the loans. The CFPS and use imported coal in a bid to meet the country’s
CFPS II were established by Canada to help the rapidly rising demand for electricity.™
growth of renewable energy projects in Asia and

P12 www. NEWSBASE .com Week 24 17•June•2020