Pertamina New & Renewable Energy (Pertamina NRE), a subsidiary of Indonesian state-owned oil and gas company Pertamina, has signed a memorandum of understanding (MoU) to build a 500MW solar PV plant in Bangladesh.
Signed with state-owned energy company Coal Power Generation Company Bangladesh Limited (CPGCBL), the project is expected to be built in the Maheshkhali area, in the southeast of Bangladesh.
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The location of the project coincides with the highest levels of irradiation in the country and the best solar PV power potential, as shown in the graph below.
The MoU also includes the construction of supporting facilities and for the possible development of further cooperation between the companies. A timeline for the construction and commercial operation of the project was not disclosed by either company.
“I am confident that this strategic partnership will be the foundation for cooperation that will not only enhance our operational capabilities, but also drive growth, innovation, shared success, and support Bangladesh’s national energy security,” said Nelwin Aldriansyah, CFO of Pertamina NRE.
With the construction of the 500MW solar PV project, Bangladesh would nearly double its installed solar capacity. By the end of 2023, the country had installed less than 800MW of solar PV capacity, according to data from energy think tank Ember.
Most of the country’s electricity generation comes from fossil fuels, with only less than 1% from solar PV.
