Planning Commission has given approval to the state-run Power Development Board to implement a 100-megawatt solar-based power plant at Sonagazi in Feni, officials said.
The project named ‘100MW Peak Solar Photovoltaic Grid Connected Power Plant Project, Sonagazi, Feni’ would be installed on 350 acres of land with the cost of Tk 1,460 crore, of which, nearly 70 per cent of the project cost would come from the climate change fund.
Out of the total cost, the government will provide Tk 382. 35 crore, PDB itself will finance TK 58 crore and the Asian Development Bank would provide Tk 1,020 crore from the climate change fund, they said.
The PDB would now invite companies to submit proposals for engineering, procurement and construction of the 100MW solar-based power plant which is so far the largest solar-based power generation initiative in the public sector.
The project is scheduled to complete between January 2016 and December 2018. The life span of the plant is expected to be 25 years.
It would cost about Tk 12 to supply each unit of electricity from the power plant.
Two more solar-based large power projects - 60MW plant at Rangunia in Chittagong and 55MW plant at Gangachara in Rangpur - are pending with the Planning Commission for approval, officials said.
The government is now working on four large solar-based private power projects which are expected to be set up with a combined capacity of 272MW power.
The government plans to install big solar power plants with 1,740MW generation capacity by 2021.
The cabinet committee on economic affairs recently gave approval to a proposal of a Singapore-based company to install a 200MW solar plant at Teknaf of Cox’s Bazar.
The government will assist the private entrepreneurs to obtain bank loans at a lower rate than the rate set by Bangladesh Bank.