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SunEdison Bangladesh

Bangladesh Lines Up 1.6 Gigawatts Solar Power Projects

Bangladesh Lines Up 1.6 Gigawatts Solar Power Projects

written by saurabh

Bangladesh is planning to to set up some large-scale solar power projects, the biggest in its history, as it looks to diversify its energy mix and enhance self-sufficiency in the energy sector.

According to media reports, the Bangladesh Economic Zone Authority (BEZA) is planning to set up a solar zone which would house the country’s largest solar power project. BEZA is in talks with POWERCHINA to set up a solar power park with total capacity of 1 gigawatts. BEZA is expected to develop a fourth of the capacity while POWERCHINA would likely develop the balance.

BEZA is also reportedly planning to give away some land to the Bangladesh Power Division to set up 600 megawatts of solar power park.

Bangladesh has virtually no utility-scale solar power projects and its power sector is heavily skewed towards thermal power technologies. Additionally, the country is also dependent of electricity imports from neighbouring India.

The government has taken some steps to attract foreign investment in the solar power market but no major progress has been reported on those initiatives so far.

A subsidiary of SunEdison signed an agreement with the government of Bangladesh to set up a 200 megawatt solar project. The power purchase agreement for the project was signed by Southern Solar Power. The company will set up the project in partnership with a local firm — Midland Power — which will have a 20% equity stake in the project.

The status of this project remains unknown given the bankruptcy of the SunEdison. There have been no reports about any company replacing SunEdison in the partnership with Midland Power.

In 2015, SkyPower announced plans to build 2 GW of utility-scale solar energy over the next five years in Bangladesh, representing an investment of US $4.3 billion. The company also announced it will be gifting 1.5 million SkyPower Home solar kits to people of Bangladesh over the course of the next five years. “SkyPower’s $4.3 billion USD investment will create more than 42,000 total job years in Bangladesh and will include 500 MW of fabrication and assembly facilities,” said SkyPower Chief Commercial Officer, Charles Cohen.

The owner of India’s largest solar power project – Adani Green Energy – also recently expressed its intentions to set up large-scale solar power projects in Bangladesh. The company did not share any details but would likely be attracted by high feed-in tariffs available in Bangladesh.

These and the recent plans would be welcomed by environmentalists who have heavily criticised the Bangladesh government for its plans to set up a huge coal-based power plant in the environmentally critical Sundarbans. Bangladesh has announced plans to set up a 1,320 megawatt coal power plant in the world’s largest mangrove forest.

Image by vectoropenstock.com for Cleantechies



June 25, 2017 0 comment
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SunEdison Signs Agreement For 200 Megawatts Solar Project In Bangladesh

SunEdison Signs Agreement For 200 Megawatts Solar Project In Bangladesh

written by saurabh

SunEdison may have sold off most of the assets in the developed or rapidly developing solar power markets, the company seems to hold on to assets that represent significant premium over other global assets.

A subsidiary of SunEdison has signed an agreement with the government of Bangladesh to set up 200 megawatts solar power project. The power purchase agreement for the project was signed by Southern Solar Power. The company shall set up the power project in partnership with a local firm – Midland Power – which will have 20% equity stake in the project.

The power plant shall come up in the Cox’s Bazar district and is required to be commissioned over the next 18 months.

The fact that could explain why SunEdison remains active in a country like Bangladesh, which has virtually no utility-scale solar power projects, while it has exited one of the fastest growing solar power markets like India is the tariff mentioned in the power purchase agreement.

The solar power plant will receive a tariff of 17¢/kWh for a period of 20 years on a ‘no power, no payment’ basis.

This tariff is at a massive premium to the competitive tariffs seen in India and the world over. Competitive solar power tariffs have fallen to the record low of 2.42¢/kWh. Tariffs in India, where SunEdison recently offloaded 1.7 gigawatts of solar and wind energy assets to Greenko Energy Holdings, have fallen to 4.40¢/kWh for rooftop projects and 6.40¢/kWh for utility-scale solar power projects.

This is the advantage that attracts large renewable energy project developers to under-developed renewable energy markets of Asia and Africa. The lack of competitive auctions for projects allows them to set up projects at feed-in tariffs which are still very high.

SkyPower Global had also announced plans to set up 2 gigawatts of solar power capacity in Bangladesh over the next few years. Indian power company Adani Power also recently expressed intention to set up utility-scale solar power projects in the south Asian country.



January 18, 2017 0 comment
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