B Mirror Report : Paramount Textile PLC, a listed textile company, is set to invest $268 million in renewable energy after securing contracts to build four solar power plants with a combined capacity of 295 megawatts, in partnership with its associate company Paramount Holdings.
According to sources at the Dhaka Stock Exchange (DSE), the company has recently received work orders from the Bangladesh Power Development Board (BPDB). Paramount Textile is required to sign Power Purchase Agreements (PPAs) with BPDB within 28 days, with construction of the projects targeted for completion within two years of signing.
The four solar power plants are expected to generate annual revenue of approximately BDT 5.14 billion over a 20-year period. Financing for the projects will be arranged through a mix of 70 percent bank loans and 30 percent equity.
Of the total installed capacity, Paramount Textile will own 176 megawatts, while the remaining portion will be held by Paramount Holdings. The company believes the investment will help diversify its business and establish it as a significant player in Bangladesh’s renewable energy sector.
Two of the plants will be located in Pabna district and two in Moulvibazar district. The projects include a 70MW and a 150MW plant in Pabna, and 25MW and 50MW plants in Moulvibazar, with electricity tariffs ranging between 7.66 cents and 8.13 cents per kilowatt-hour.
Industry analysts view the move as part of a broader trend of manufacturing companies expanding into clean energy amid rising demand for sustainable power solutions in Bangladesh.
