Teesta Solar Limited: The Biggest Solution to Power Crisis in Bangladesh
Responding to the shortage of power in Bangladesh has been one of the measures undertaken by BEXIMCO Group, one of the largest private sector companies in Bangladesh. The company has diversified its presence in all major industries and became market leader including textiles, energy, seafood, agriculture, and many others. To this significant crisis, the conglomerate has responded by establishing the largest solar power plant in the country. Exhibiting the most excellent use of renewable energy in Bangladesh, the Teesta Solar Limited is the biggest solution to this difficulty. Spread over an area of 600 acres, this project focuses on supplying power to the national grid. Since December 2022, this plant has been functional. With around 200 MW, this grid will receive sufficient power supply as this massive facility in Gaibandha continues to operate.
A Glimpse of Power Shortage in Bangladesh
Bangladesh has been facing instances of power shortage since 2013. Owing to several factors such as the cost of fuel imports, a lack of power sources, etc., these instances have been occurring. The scarcity of power and high demands for the same have been aggravating the overall situation.
Renewable Energy: A Solution to End Power Crisis
To limit the power crises in Bangladesh, several organizations have executed effective measures. Among these, Teesta Solar Power Limited by BEXIMCO Group is a significant measure. It facilitates the use of renewable energy to alter the energy crises in the country. Further, it will work as a preventive measure against more such instances in the future by utilizing renewable energy in Bangladesh.
Teesta Solar Limited to End Power Crises in Northern Bangladesh
For Bangladesh, the Teesta Solar Energy Plant is crucial, especially to resolve the power crises in the northern region. Hence, the Government of Bangladesh inaugurated the biggest solar plant here. It is located in Sundarganj, northern Bangladesh, and will serve the purpose of generating electricity here.
- This plant can work as the biggest solution to the energy shortage in this region.
- It covers an area of 243 hectares and will generate nearly 200 Megawatt of power.
- For its functioning, the plant has around 550,000 solar panels to generate energy.
- As a subsidiary of BEXIMCO Group, Teesta Solar Limited will be a reliable renewable energy solution.
Possibilities of a Massive Transition in the Next 20 Years
Teesta Solar Limited is a project that comprises the signing of the Power Purchase Agreement (PPA) with the Bangladesh Power Development Board or BPDB. Under this agreement, BPDB will purchase electricity for 20 years.
Thus, for the next twenty years, the use of renewable energy can be expected in Bangladesh. This period will be long enough to bring along a transition. As a result of this, the country would witness fewer episodes of power shortage. It will become self-reliant in sourcing energy without importing fuels majorly.
Facilitating Power Stability in Bangladesh with BEXIMCO
BEXIMCO is the highlight of Bangladesh which has always initiated measures for the betterment of its people. It has planned solar power plant (Teesta Solar Limited) projects as part of these measures. Among these, Teesta Solar Limited is the largest plant in the country that will significantly enhance people’s lives.
The biggest Bangladeshi solar plant will push the country towards power stability. Indeed, it will focus on the emerging needs for power demand. In the future, however, it will function as a means of using renewable energy in Bangladesh as a stable way of fulfilling such demands.
Financing a Stable Solution for Electricity Shortage
With the trials of the Teesta Solar Limited, a ray of hope emerged to alter the electricity shortage in Bangladesh. To manage and maintain the same, BEXIMCO has made huge investments in this project. Via green Sukuk bonds, it has invested over $400 million in the plant in Sundarganj, Gaibandha.
The amount of investment for the Sundarganj solar energy plant is a big indicator of its potential to work against power shortage. Its functioning will hopefully encourage the planning and emergence of more such plants in the future.
Lastly
Through Teesta Solar Plant, Bangladesh has found a long-term and certainly impactful solution to power shortage. It hints at the power of renewable energy in Bangladesh to overcome this challenge. Moreover, the additional benefits of this project will help manage the high demands for power in the years to come.
