Metito consortium wins Bangladesh solar contract
A consortium led by the UAE’s Metito has been awarded a contract to develop a 55MW photovoltaic (PV) solar independent power producer (IPP) project in Bangladesh.
Metito, in consortium with China’s Jinko Power and Saudi Arabia’s Al-Jomaih Group, will develop the IPP under a build-own-operate (BOO) contract. The consortium has signed a 20-year power-purchase agreement (PPA) with the Bangladeshi government to deliver power in return for a tariff of $0.0748 a kilowatt hour (kWh), a record solar tariff in the Asian country.
The PV plant will be developed in Ranguina, Chattogram, on land provided by the Bangladesh Power Development Board (BPDB). The project is due to be commissioned in the second half of 2021.
The solar project is the latest investment venture from a Middle Eastern energy firm in Bangladesh. In October last year, Saudi Arabia’s Acwa Power announced it had signed a memorandum of understanding (MoU) with BPDB to develop a LNG-based power plant and terminal in the Asian country.
As part of the agreement, Acwa Power will develop a 3,600MW gas-fired IPP. The project will represent a capital investment of about $2.5bn.
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