The cost of the proposed 220-megawatt solar photovoltaic (PV) power plant in Sonagazi, Feni, is set to be reduced by Tk 2.46 billion before final approval, following recommendations from a recent meeting of the Project Evaluation Committee (PEC) of the Planning Commission, officials said.
The Power Division has revised the project proposal, lowering the estimated cost to Tk 18.88 billion from the earlier projection of Tk 21.34 billion, mainly after reassessing global market prices of PV modules and inverters.
The project, to be implemented by the Electricity Generation Company of Bangladesh (EGCB), will receive Tk 16.24 billion in loan support from the Islamic Development Bank (IsDB).
Of the total cost, the government will provide Tk 1.48 billion, while Tk 1.17 billion will come from EGCB's own funds, according to the proposal.
"We have received the new proposal with a lower cost from the Power Division and will assess it to accelerate the approval process," said a senior official of the Industry and Energy Division of the Planning Commission.
