Infrastructure Development Company Limited (IDCOL), a government owned development financial institution involved in private sector energy and infrastructure financing in Bangladesh, has recently signed a mandate with Energon Renewables (BD) Limited, an approaching concern of Orion, to raise syndicated term loan facility for establishment of a 100 MW (AC) solar park at Bora Durgapur, Mongla, Bagerhat.
The plant will be established on BOO basis under a 20-year Power Purchase Agreement with Bangladesh Power Development Board (BPDB). It is expected to achieve commercial operation by August 2020.
IDCOL, the largest energy and infrastructure financier of the country, has already financed power projects supplying more than 2000 MW to the national grid. IDCOL looks forward to investing additional USD 1 billion by 2021 for development of priority infrastructure projects in Bangladesh.