Hero Future Energies, an Indian company specialising in wind and solar power generation, wants to build a 50MW solar power plant in the Khulna district of southwestern Bangladesh.
The Delhi-based company expressed its interest to the Bangladesh Power Development Board (BPDB), seeking to build the plant under non-solicitude or non-publicly-procured method, said sources at the power sector.
Sources also said the Hero Future Energies' proposed tariff is so far the lowest ever for grid-connected solar power projects in Bangladesh. The company, part of the Hero Motors Company group, proposed a tariff of $0.1025/kWh, said insiders.
Md Mahbubur Rahman, chief engineer of private generation (IPP) at the BPDB, told the Business Standard that the proposal is now under processes, adding that it was submitted a few months back.
As per the Power System Master Plan-2016 (revised 2018), the government targeted to have 10% of its generation mix to come from renewables within this year.
Out of 648.6MW of renewable power, the country has only 38MW grid-connected solar power and 225MW hydro power. The rest comes from Solar Home Systems (SHS).
The Power Division has already awarded 36 solar projects with a combined capacity of 2,110MW to different public and private companies. Among these, only four plants with a capacity of 38MW have come into operation till now.
However, the tariff rate of these projects hover around $0.12-0.13 per kWh.