A group of companies led by Metito Utilities and Jinko Solar has won a bid to build a 45-55 megawatts (MW) grid-tied PV array at Rangunia in Chittagong district of Bangladesh, according to a report by pv magazine of India.
The consortium's winning bid of $0.0749/kWh (US $10 per kilowatt hour), submitted to the Bangladesh Power Development Board (BPDB) on August 4, is the lowest ever recorded in the country's solar industry.
Previously, the average price for solar electricity was hovering around the $0.10/kWh range.
The BPDB launched the tender to build, own and operate the PV project. The government will buy electricity from the plant for 20 years.
Antonio Cuccarese, head of renewable energy at Metito Utilities, told the magazine that the company wants to commission the project by the second half of next year. He said that this will hinge on the speed of negotiations.
