HDFC Sinpower Ltd Singapore has signed a Power Purchase Agreement with BPDB on Wednesday at Biddyut Bhaban for selling 50 MW Solar Power.
Secretary of Bangladesh Power Development Board (BPDB) Mena Masuduzzaman and Chairman of HDFC SinPower ltd of Ng Han Kok signed the agreement. The 50 MW solar plant will be completed within 18 months of signing. BPDB will purchase power at Dollar Cents 17/kwh under “no electricity no payment” model. Three Singapore based companies will finance the project. The company structure will be HETAT Holdings 65 percent, DITROLIC 20 percent and IFDC 15%.
State Minister for Power Energy and Mineral Recourses Nasrul Hamid, Secretary Power Division Monowar Islam and Chairman BPDB Khaled Mahood were also present on the occasion. Located at Mymensingh Solar Park this will be the largest Solar plant in Bangladesh. PSMP 2010 mandates Bangladesh generating 10% of 24,000 MW generation target by 2024.