Current Status: Announced
Representational Image (Source: Parasol Energy)
Panchagarh 50 MW Solar Power Plant, is an announced solar power plant situated in Shekhgachi in Tetulia Upazila, Panchagarh District of Rangpur Division, Bangladesh (Location: 26.130728, 88.708443). It is proposed by the Consortium of Padma Solar Limited of Avantus Singapore Holdings Private Limited (former 8 Minute Energy), as a private Independent Power Producer (IPP) for 20 years. Bangladesh Power Development Board (BPDB) issued a Letter of Intent (LOI) on 20 August 2017. As per schedule, the power plant is to start commercial operation on 30 June 2025 and as per agreement, the power plant is to retire on 29 June 2045.
Capacity
The installed capacity of this power plant is to be 50 MW.
Context
The Panchagarh 50 MW Solar Power Plant is a proposed solar facility located in Shekhgachi, Tetulia Upazila, within the Panchagarh District of the Rangpur Division, Bangladesh (SREDA, 2024).
A report published in 2017 said that the government is expected to authorize the establishment of a solar photovoltaic power plant with a 50 MW capacity in Tetulia, Panchagarh, operating under an unsolicited agreement, at a tariff rate of BDT 11.02 (equivalent to 0.13 US cents) per unit and the tariff negotiation was done with the 8-minute energy Singapore Holdings Ltd. on 16 April 2017 (DS, 2017).
Bangladesh Power Development Board (BPDB) issued a Letter of Intent (LOI) on 20 August 2017 as a preliminary commitment to commission the power plant (BPDB, 2022), and still in January 2024 the vetting is in the process (BPDB, 2024).
According to LOI, the expected Commercial Operation Date (COD) of the power plant is scheduled as 31 December 2022 but the respective Power Purchase Agreement is yet to be signed (BPDB, 2022) and still in 2024 it is set to start on 30 June 2025 (BPDB, 2024).
Finance
The company based in Singapore has committed to providing a proposal security of USD 5,000, along with a performance security deposit amounting to USD 18,000 (DS, 2017).
References
BPDB (2022). ‘Power Sector Progress Report’. Bangladesh Power Development Board (BPDB): 15 June 2022.
BPDB (2024). ‘Power Sector Progress Report’. Bangladesh Power Development Board (BPDB): 11 January 2024.
DS (2017). “50MW solar plant in Tetulia on cards”. The Daily Sun (TDS): 21 April 2017.
SREDA (2024). “SREDA | National Database of Renewable Energy”. Sustainable And Renewable Energy Development Authority (SREDA): Accessed on 20 January 2024.
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