BRAC Bank PLC and Infrastructure Development Company Limited jointly financed a landmark renewable energy initiative, a 64.55 MW solar power plant operated by Bangladesh China Renewable Energy Company Limited.
A ceremony was held on Thursday at InterContinental Dhaka to celebrate the financial closure of the $67 million syndicated term loan facility for the project, said a press release.聽聽
BRAC Bank PLC and IDCOL contributed $22 million and $45 million, respectively, in debt financing, underscoring their commitment to driving Bangladesh鈥檚 clean energy transition.
The large-scale solar plant, located in Pabna, has already commenced supplying clean electricity to the national grid, helping the country make a stride toward transition to renewable energy for sustainable growth.
Bangladesh China Renewable Energy Company Limited is a joint venture between North-West Power Generation Company Limited of the Government of Bangladesh and China National Machinery Import and Export Corporation. BCRECL operates a number of solar power plants in Bangladesh.
Ahsan H Mansur, governor of Bangladesh Bank, attended the ceremony as chief guest.
Gayle Martin, operations manager, Bangladesh and Bhutan, The World Bank, R眉diger Lotz, German ambassador to Bangladesh, attended the ceremony as special guests.
The event was chaired by Md Shahriar Kader Siddiky, secretary of the economic relations division and chairman, IDCOL.
Alamgir Morshed, executive director and CEO, IDCOL, Tareq Refat Ullah Khan, managing director and CEO, BRAC Bank, and Qi Yue, managing director, BCRECL, among others, attended the event.
Speaking at the event, Tareq Refat Ullah Khan said, 鈥楾ogether with IDCOL, we have mobilised long-term financing for a project that delivers clean energy to the national grid, reduces carbon emissions, and supports Bangladesh鈥檚 renewable energy transformation. The commissioning of this solar plant stands as a testament to effective public-private collaboration in driving large-scale sustainable infrastructure. As a values-based institution, BRAC Bank remains committed to accelerating the clean energy transition in Bangladesh.鈥�
Alamgir Morshed said, 鈥楢t IDCOL, we are committed to driving Bangladesh鈥檚 clean energy transition through innovative financing. This 64.55 MW solar park, financed jointly with BRAC Bank PLC, is a key milestone in boosting the renewable energy sector and cutting carbon emissions. We thank BCRECL for leading the way toward a greener future.鈥�