BRAC Bank PLC and Infrastructure Development Company Limited (IDCOL) have jointly financed a landmark renewable energy initiative, a 64.55 MW solar power plant, operated by Bangladesh China Renewable Energy Company Limited (BCRECL).
A ceremony was held on November 6 in Dhaka to celebrate the financial closure of the USD 67 million Syndicated Term Loan Facility for the project.
BRAC Bank PLC and IDCOL contributed USD 22 million and USD 45 million respectively in debt financing, underscoring their commitment to driving Bangladesh’s clean energy transition.
The large-scale solar plant, located in Pabna, has already commenced supplying clean electricity to the national grid, helping the country make a stride toward transition to renewable energy for sustainable growth.
Bangladesh China Renewable Energy Company Limited is a joint venture between North-West Power Generation Company Limited (NWPGCL) and China National Machinery Import & Export Corporation (CMC). BCRECL operates a number of solar power plants in Bangladesh.
