Teesta Solar Limited, a joint venture of Beximco Power Company Ltd, Bangladesh and TBEA Xinjiang Sunoasis Co Ltd, China, on Thursday signed a power purchase agreement (PPA) with Bangladesh Power Development Board (BPDB) to develop a 200 MW (AC) Solar PV Power Plant in Sundarganj, Gaibandha.
BPDB secretary Mina Masud Uzzaman and Managing Director of Teesta Solar Limited M Rafiqul Islam signed the Power Purchase Agreement, while Sheikh Faezul Amin, joint secretary of power division and M Ashraf Hossain, company secretary of Power Grid Company of Bangladesh (PGCB) signed the Implementation Agreement on behalf of their respective sides at the Bidyut Bhaban in Dhaka.
State Minister for Power, Energy and Mineral Resources Nasrul Hamid witnessed the contract signing ceremony as the chief guest and said that the government with a view to fulfilling its target of raising the ratio of renewable energy to 10 percent of the total power generation by 2021 has already undertaken various initiatives.
Nasrul, however, expressed his frustration that although many companies signed deals to set up solar power plants, their plants did not come into operation.
According to the agreement, Teesta Solar Limited would construct a 200-MW Sundarganj Solar Power Plant at Latshal, Sundorgonj in Gaibandha within 18 months.
BPDB will buy electricity from the plant at a tariff rate of US 15 cents for 20 years on `no electricity no payment method.`
The function was also addressed by Power Division Secretary Dr Ahmed Kaikaus, BPDB Chairman Khaled mahmood, Beximco Group Chairman Sohel F Rahman while its Vice-chairman Salman F Rahman was present.