Bangladesh Power Development Board (BPDB) has signed a Power Purchase Agreement (PPA) with Korotoa Solar Limited (KSL) for setting up a 30MW Solar Power Plant at Tentulia in Panchagarh district.
Korotoa Solar, a joint venture between Beximco Power Company Limited (80%) and Jiangsu Zhongtian Technology Co. Limited (20%), will implement the project on 130 acres of land under an implementation agreement (IA) inked yesterday at the Ministry of Power, Energy and Mineral Resources.BPDB Secretary Saiful Islam Azad and KSL Managing Director M Rafiqul Islam signed the PPA at Bidyut Bhaban in the city.
Joint Secretary of Power Division Sheikh Fayezul Amin, company secretary of Power Grid Company of Bangladesh Limited (PGCB) Jahangir Azad and KSL MD signed the IA on behalf of their respective sides while Chairman of BPDB Engineer Sayeed Ahmed and senior officials of the ministry, BPDB, PGCB and Beximco were present.
According to the 20-year PPA terms, BPDB will buy the electricity to be generated from the plant at 13.9 cent (US $) per unit (KWh).
The joint venture project is expected to be implemented at a cost of around US$ 40 million within eight months from signing of the day’s agreements.