On December 1, local time, the Executive Committee of the National EconomicCouncil (ECNEC), Bangladesh's highest policymaking body, officially approved theconstruction of a 220,000 kW PV power plant in Sonagazi, southeastern Bangladesh.With a total budget of about USD 154.4 million, once completed, it will become thelargest PV power generation facility in the country to date. In terms of financing, the Islamic Development Bank (IsDB) will provide a loan of USD 143.28 million, representing nearly 90% of the total budget. The remaining funds will be jointly raised by theGovernment of Bangladesh and the project developer, Electricity Generation Companyof Bangladesh (EGCB). This robust financial backing provides a solid foundation for advancing the project. The power plant is planned to occupy approximately 634 acres (about2.57 square kilometers) of land,situated next to EGCB's 75,000 kW PV power plant thatbegan operation in March 2024. This strategic location creates a scale effect, facilitatingcentralized operation and maintenance management. As of now, Bangladesh's installedrenewable energy capacity stands at 1.69 GW, with PV power generation accounting for1.297 GW. According to the country's "Renewable Energy Policy 2025," the government aims for renewable energy to supply 20% of national electricity demand by 2030,with a further increase to 30% targeted by 2040.
Source: Oilprice
