The Asian Development Bank (ADB) is providing a loan of Tk 2.916 billion (Tk 120 per dollar) to Bangladesh.
This information was given in a notification sent from the organization’s Dhaka office on Monday (December 2).
It said that ADB will finance Muktagachha Solartech Energy Limited with $24.3 million for solar power generation in Mymensingh. Of this loan, $15.5 million will be provided from ADB and $8.8 million from the ADB-managed Leading Asia Private Infrastructure Fund-2 (LEAP-2).
Under the project, a 20-megawatt grid-connected solar photovoltaic power plant will be constructed and operated. It is one of the first private sector utility-scale solar installations in the country to be supported by international financiers.
The solar power plant will generate 37.9 gigawatt-hours of electricity annually and avoid 18,344 tons of carbon dioxide emissions annually.
Suzanne Gabory, Director General of ADB’s Private Sector Operations, said ADB’s financing aims to advance Bangladesh’s progress and sustainable energy solutions.
She added that this long-term financing will help meet the critical capital needs of renewable projects and increase private sector involvement in renewable energy development in the country.
