Olympic Industries has announced plans to install rooftop solar power plants at three of its factories to support manufacturing with clean energy amid global fuel supply disruptions triggered by the escalating Iran-Israel war.
The branded biscuit manufacturer has signed an agreement with Solaric Ltd for engineering, procurement and construction (EPC) of a solar power system with an installed capacity of more than 1,000 kilowatt-peak (kWp) at its Madanpur, Kutubpur and Lolati factories.
The project cost is estimated at Tk 41.51 million, which will come from the company's own funds.
The board's decision to adopt solar power aims to reduce dependence on conventional grid electricity, cut carbon emissions and contribute to a cleaner energy mix, said company secretary Mintu Kumar Das.
The project cost includes letter of credit prices for imported equipment along with local EPC expenses, he said.
