The Asian Development Bank (ADB) has signed a $17.7 million financing package with Spectra Solar Park Limited (SSPL) to invest in a 35-megawatt utility-scale solar photovoltaic plant in Bangladesh.
The solar park is one of the first private sector solar plants in Bangladesh to be financed by multilateral institutions, and will support the country’s efforts to attain long-term energy security and meet climate goals by stepping up its use of clean energy.
“This project strongly demonstrates that the solar energy sector in Bangladesh is an attractive destination for private sector engagement. This is a landmark project that will also incorporate very specific and meaningful design features to empower women and ensure a gender-inclusive workplace,” said Director of Infrastructure Finance, South Asia, Central Asia, and West Asia at ADB’s Private Sector Operations Department Shantanu Chakraborty.”
Once operational, the plant is expected to provide over 50 gigawatt-hours of clean electricity annually to the national grid and avoid 33,200 metric tons of carbon dioxide emissions. The project aligns with the Government of Bangladesh’s aim to reduce the country’s dependence on fossil fuels through renewable energy under Bangladesh Vision 2021.
Original source: ADB
Published on 10 June 2020
