IFC to support solar power plant in Bangladesh
The Interntional Finance Corporation has signed an agreement with the Sustainable and Renewable Energy Development Authority (SREDA) of Bangladesh to support a 35MW-50MW solar power plant in Kushtia district.
The pilot project, which will be developed through competitive bidding under a public-private partnership model, is aimed at demonstrating a viable model for a solar power plant in Bangladesh, drawing in the private sector.
IFC is helping with structuring and tendering of the project to attract a credible private sector developer through a transparent and competitive process. Meanwhile, the European Commission's Directorate General for International Cooperation and Development, Germany's Federal Ministry of Economic Cooperation and Development, and the Sustainable Development Investment Partnership are supporting the funding for consultants.
