ADB to provide $120 million financing for Bangladesh solar power generation

• 2 months ago (2024-05-01)
• David Flin

Asia 859 Solar 249

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The Asian Development Bank (ADB) has signed a $121.55 million financing package with Dynamic Sun Energy to build and operate a 100 MW grid-connected solar PV plant in Pabna, Bangladesh.

ADB arranged, structured, and syndicated the debt package as the sole mandated lead arranger.

The financing package comprises a $46.75 million loan from ADB, a syndicated loan of $28.05 million from ILX Fund I , an Amsterdam-based emerging market private credit fund, and a syndicated parallel loan of $46.75 million from the Japan International Cooperation Agency (JICA).

The solar plant will generate 193 GWh annually and avoid 93 654 tons of CO2 emissions annually.

Suzanne Gaboury, Private Sector Operations Department Director General at ADB, said: “As Asia’s climate bank, ADB welcomes the opportunity to support renewable energy in Bangladesh, where obtaining long-term financing for such projects is a challenge. This partnership exemplifies our lead role in mobilising financing for clean energy facilities and stimulating further investment in sectors where it’s needed the most.”