As part of Bangladesh's renewable energy push, a joint venture between China's CREC International Renewable Energy Company and Bangladesh's B-R Powergen Limited (BRPL) will establish a 100MW solar power plant on 350 acres of land in Madarganj upazila of Jamalpur.
The Joint Venture Agreement (JVA) was signed at The Bangladesh Power Development Board office in the capital recently, according to power ministry sources.
According to sources, BRPL, a company jointly owned by the Power Development Board and the Bangladesh Rural Electrification Board (REB), will possess a 30% stake in the plant and the Chinese company will hold the remaining 70%.
The solar power plant is slated to produce 100MW of electricity under a 20-year agreement.
Officials from the Power Division said the Chinese firm is keen to set up this plant. It will not only invest but also offer loans for the construction of the plant.
Despite holding a 70% stake in the project, the Chinese company will assume full responsibility for all loans, whether domestic or foreign.
This arrangement ensures that Bangladesh will not be required to provide any sovereign guarantees while also maintaining proportional investments, they said.
