Infrastructure Development Company Limited (IDCOL) signed a facility agreement with GPH Renewable Energy Ltd to finance their first rooftop solar project.
Under the project, GPH will install 3.90 MWp solar PV systems on the rooftop of GPH Ispat factory located at Chattogram and 2.15 MWp system on the rooftop of Eco Ceramics Industries Ltd factory at Munshiganj, says a press release.
Electricity produced from this project will not only reduce electricity bills of GPH but also reduce the diesel consumption during load shedding. In addition, the project owners can export unutilised electricity generated from the project to the national grid through Net Metering Guideline 2018.
Under this facility agreement, IDCOL will provide concessional loan up to 80 per cent of the project cost.
Alamgir Morshed, Executive Director & CEO, IDCOL, and Md Jahangir Alam, Chairman of GPH Group, signed the agreement on behalf of their respective organisations recently.
Alamgir Morshed, Executive Director & CEO of IDCOL, said "GPH is doing a fantastic job by contributing to the economy of Bangladesh. It's first rooftop solar project will encourage others to focus on green energy sources. To promote rooftop solar projects, IDCOL is not only providing concessionary loan facility but also providing technical assistance to borrowers."
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