Intraco signs deal with Bangladeshi government to build 30MW solar plant

Intraco Solar Power Ltd (ISPL), a unit of Bangladeshi corporate business house Intraco Group, has signed deals with two government agencies in Bangladesh for the construction of a solar power plant that will supply 30 megawatts (MW) of electricity to the national grid from next year.

The deals included one agreement on the purchase of the electricity was signed with Bangladesh Power Development Board (BPDB) and another on constructing the power plant with the Power Division at BidyutBhaban in Dhaka.

The government will procure power on a “no electricity, no payment basis” for up to 20 years at US$0.16 per kilowatt hour (kWh), according to an ISPL statement.

ISPL is constructing the power plant in Gangachhara, which is 17 kilometers away from Rangpur town. The company hopes to start supplying the electricity within 13 months.

Process is underway to select engineering, procurement and construction contractors from companies in countries such as Germany, South Korea, Malaysia, India and China.

Infrastructure Development Company and local banks will bankroll the project. Intraco Group Managing Director Mohammed Riyadh Ali, Secretary to BPDB Mina Masud Uzzaman and Joint Secretary for Development at the Power Division Sheikh Faezul Amin signed the deals.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid, Secretary to the Power Division Ahmad Kaikaus and BPDB Chairman Khaled Mahmood were present during the signing.

Intraco Group has businesses involving power, energy, hotel and tourism, properties, insurance, amusement park, oil tanker and telecommunication.