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IDCOL Funds BD’s First Large-Scale Floating Solar Project

Industry: Energy & Power, Financial, NBFI, Solar & Alternative Energy
Company: Infrastructure Development Company Limited (Idcol)
Company Intelligence Tag: Business Insights

The IDCOL has financed Bangladesh’s first large-scale grid-connected floating solar PV project, with a capacity of 784 kWp. The project utilizes artificial water bodies previously used for fish farming and aims to address land scarcity challenges while diversifying the energy mix and promoting decarbonization. Floating solar panels not only generate clean electricity but also reduce water evaporation and increase electricity generation by 6-10% due to lower panel temperatures. The project is located on a 22,000 sq. meter pond and co-generates electricity alongside fish farming, showcasing the Food-Energy nexus. This initiative contributes to sustainable development goals and climate change mitigation. Bangladesh’s riverine landscape presents significant potential for floating solar projects, setting a precedent for similar initiatives and accelerating the country’s transition to renewable energy sources.

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