BRAC Bank, Idcol finance $67 million solar project

BRAC Bank PLC and Infrastructure Development Company Limited (Idcol) have jointly financed a 64.55 megawatt (MW) solar power plant in Pabna, operated by Bangladesh China Renewable Energy Company Limited (BCRECL).

The two institutions completed a $67 million term loan facility, with BRAC Bank contributing S$22 million and Idcol $45 million, according to a press release issued today.

The plant, among the largest in the country, has already begun supplying electricity to the national grid, marking a significant step in Bangladesh's transition toward sustainable growth.

BCRECL is a joint venture between North-West Power Generation Company Limited and China National Machinery Import and Export Corporation.

BRAC Bank CEO Tarek Refat Ullah Khan said the project demonstrates the strength of public-private partnerships in sustainable infrastructure.

Idcol CEO Alamgir Morshed called the solar park a milestone in reducing carbon emissions.

An event was held at the InterContinental Dhaka, attended by Bangladesh Bank Governor Ahsan H Mansur; Gayle Martin, operations manager for the South Asia Unit of the World Bank; German Ambassador Rüdiger Lotz, and senior representatives of the participating institutions.