A significant step towards renewable energy development in Bangladesh, the signing of a $121.55 million financing package between the Asian Development Bank (ADB) and Dynamic Sun Energy Private Limited marks the construction and operation of a 100 MW grid-connected solar photovoltaic plant in Pabna. Notably, this represents the first investment in a private solar power plant by a multinational company in the country.
ADB played a crucial role in structuring and syndicating this loan package, which comprises a $46.75 million loan from ADB itself, a syndicated B loan of $28.05 million from ILX Fund, and a $46.75 million loan from the Japan International Cooperation Agency. The solar power plant’s anticipated annual generation of 193.5 gigawatt-hours of electricity will contribute significantly to Bangladesh’s energy needs while also helping to curb carbon dioxide pollution by preventing 93,654 tons of emissions annually.