German PV project developer IB Vogt has obtained a power purchase agreement for a 50 MW PV facility in Bangladesh.
Located in the Mirsharai sub-district of Chittagong district, the plant will be owned and operated by the special-purpose vehicle Sonagazi Solar Power Ltd and will be built in 15 months, according to the company.
The Bangladesh Power Development Board (BPDB) will buy electricity from the power plant at a price of $0.1094/kWh for a period of 20 years.
Power division secretary Habibur Rahman said a letter of intent for the project was signed in December 2019, when the plant was initially planned to be constructed in Sonagazi, in the Feni district. However, due to complications over land acquisition, the plant had to be shifted to the new location, he said.
“Non-availability of non-agricultural land, the rate of solar irradiance, and the price of renewable electricity are among the barriers to the expansion of renewable energy in Bangladesh,” said junior power minister Nasurl Hamid.
He said 47 solar power projects totaling 3.74 GW are currently under development and construction in the country. Moreover, some 79 projects are under review with a generation capacity of 9.318 GW. “Some 8 GW to 10 GW electricity from renewable sources will be added to the grid by 2023,” the minister said.
Bangladesh presently has the capacity to generate 1.375 GW of electricity from renewable sources, of which 1.080 GW comes from solar.
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