Southern Solar Power, a subsidiary of bankrupt firm SunEdison, has signed a power purchase agreement (PPA) with state-run Bangladesh Power Development Board (BPDB) for a 200MW grid-connected solar park in southern Bangladesh, according to a filing on the Dhaka Stock Exchange.
Following from an earlier memorandum of understanding, Midland Power, an association of local energy firm Shajibazar Power (SPCL), will act as local partner by subscribing 20% equity.
The filing contained no other detail, but a local report form Dhaka-based Financial Express said that the PPA would last for 20 years, with a tariff set at US$0.17/kWh, on a “no electricity, no payment basis”.
Southern Solar Power is to build the project at Teknaf in Cox's Bazar District, the southernmost tip of Bangladesh, over the next 18 months.
Indian conglomerate Adani recently told PV Tech that it was considering setting up large-scale solar PV projects in Bangladesh.