Intraco Solar Power Ltd (ISPL) and Almaden Emirates Fortune Power (AEFP) have agreed to enter into a MOU to cooperate on the current ongoing solar investment projects as well to engage into an investment for 5000 MW (5 GW) solar power plants in Bangladesh for both large scale grid connected and off grid as well as waste to energy.
On the 17th of February, 2019 a Memorandum of Understanding (MoU) has been signed at Saint Regis –Abu Dhabi between Intraco Solar Power Ltd and Almaden Emirates Fortune Power.
Managing Director of Intraco Solar Power Ltd Mr. Mohammed Riyadh Ali, Chairman of Almaden Emirates Fortune Power H.E. Ghanim Al Mazrouei and Executive Director Anwar Hussein signed the MoU for their respective side.
The MOU Signed in the presence of His Excellency Sultan bin Saeed Al Mansouri - The Honorable Minister of the Economy in UAE, His Excellency AK Abdul Momen – The Honorable Foreign Minister –Bangladesh, His Excellency Nasrul Hamid , The Honorable State Minister for Energy, Power and Mineral Resources and His Excellency Saed Mohammed Al-Muhairi – UAE Ambassador to Bangladesh and His Excellency Mohammad Imran ,Bangladesh Ambassador to the UAE
AEFP in Partnership with ISPL intends to invest in the renewable energy projects in Bangladesh. AEFP is dedicated to using technology, engineering and innovation for complete concept to commissioning services of large scale grid-connected and micro/off-grid standalone solar power projects with the intent to focus on projects that increase the rural population's access to affordable, sustainable and reliable electricity supply. This encourages an increase in rural community income and improves rural livelihoods.
AEFP along with ISPL will work on managing development and transaction teams across multiple geographies, development models, and transaction environments. AEFP/ISPL has the ability and partnerships in place to bring development, technology, and financing together as a Total Utility Development & Solutions Integrator viz a viz relationship with financial investment fund partners namely Arab Investment Development Authority (AIDA) and Safa Capital
