Energy crises, when unresolved, can hinder the development of a country. Comprehending the same, BEXIMCO Group, the largest conglomerate in Bangladesh, formed the biggest solution to such crises by constructing the Teesta Solar Plant. In Sundarganj, Gaibandha, Bangladesh, this plant has been functional for the power generation capacity of 200 Megawatt. It is a significant measure to limit energy shortage in the country. Beyond this, the plant is the largest in the country, hinting at BEXIMCO Group’s ability to endow surplus benefits. Teesta Solar Limited, as the conglomerate in Bangladesh opines, will be a step towards a sustainable future. Additionally, it will bring along self-reliance for completing the energy requirements of the citizens.
Construction of the Largest Solar Power Plant in Bangladesh
In around 2017, BEXIMCO Group began the construction of the biggest solar power plant in Sundarganj. Known as Teesta Solar Limited, this plant is notably big. In the upazila situated in Gaibandha, it is spread over an area of 650 acres. Reaching the completion of the project in 2022, the largest conglomerates in Bangladesh conglomerate began power generation trials in the region.
Generating and Transmitting Power in Bangladesh
From 6 December 2022 onward, the Teesta Solar Limited has been generating power. This process began on a trial basis. Gradually, BEXIMCO engaged in the transmission of power through this project. Following the trials, the largest conglomerate in Bangladesh has been providing power to the national grid.
BEXIMCO Group gave rise to Teesta Solar Limited in Gaibandha to generate 200 MW of power. With the establishment of the same, it paved the way for its new objective, that of resolving power crises in the country.
Aiming to Fulfill Energy Requirements in Bangladesh’s Northern Region
BEXIMCO’s largest solar power plant project in Sundarganj, Bangladesh, was launched to complete energy requirements. This project specifically aims at fulfilling this objective in the Northern region of the country.
A Single Solution to Multiple Requirements
The northern region has been undergoing a power crisis. To resolve it, the country has been dependent on the import of certain fuels to generate energy. As an important solution for the crisis, as well as this dependency on fuel imports, this plant has been established.
- This massive solar power plant in Gaibandha will cut the major need for outsourcing these fuels.
- Fewer forex reserves will be required due to a decline in these imports.
- Looking at the potential of this plant, BPDB has signed an agreement with Teesta Solar Limited.
- The PPA or Power Purchase Agreement will enable the Bangladesh Power Development Board (BPDB) to buy power.
- Observing the benefits of the project, this agreement will continue for 20 years.
BEXIMCO’s Investments in Teesta Solar Power Plant
The Teesta Solar Limited is a project equivalent to millions. The largest Bangladeshi conglomerate, BEXIMCO Group has invested around $400 million in this project. Green Sukuk bonds have been utilized for this huge investment. Along with this, to contribute to the plant, sharia-compliant bonds have been used.
In its journey of decades, BEXIMCO Group has made significant investments in projects that are favorable for Bangladesh and the world. Looking at its major consideration for the Teesta Solar Limited, its advantages for the nation can be assumed.
Contributing to the Renewable Energy Sector
The conglomerate in Bangladesh highly believes in the potential of the renewable energy industry. In the view of the Chairman of BEXIMCO Power Limited, Shayan F Rahman, this sector will play a crucial role in the future. For this reason, it is only viable to make investments in the Teesta Solar Power Plant project.
Shayan F Rahman further says that to resolve energy crises, BEXIMCO Group aims to set up additional solar power plants. Their setup will fall in synchronization with the plans of the country’s government. Gradually, in terms of energy accessibility, the future of Bangladesh will become secure.
In Summation
Enhancing the renewable energy sector, BEXIMCO gave rise to the Teesta Solar Limited project. The largest solar power plant has become the highlight of Bangladesh. It will smoothly fulfill the energy requirements of specific regions to prevent crises. In the years to come, more such projects will add to this sector, making the country energy efficient.