The Infrastructure Development Company Limited (IDCOL) has financed the first rooftop solar project of Hatil Complex Limited.
The 2.67 MWp project will be implemented on the factory rooftops of Hatil Complex Limited at Kashimpur in Gazipur, said a press release.
The total cost of the project is Tk17.78 crore. Under the facility agreement, IDCOL is providing a concessional loan of Tk14.23 crore to Hatil Complex Limited. The project is expected to be operational by April 2023.
The rooftop solar project is part of the on-going green initiatives of Hatil Complex Limited to use environmentally friendly technologies and become less dependent on grid electricity by using renewable energy sources.
The electricity produced from this project will reduce Hatil Complex Limited's electricity bills. In addition, the project owner can export unutilized electricity generated from the project to the national grid as per the Net Metering Guideline 2018. Currently, the unit cost of electricity from rooftop solar is less than BDT 7 which makes the investment financially attractive.
Under its Rooftop Solar Financing Scheme, IDCOL plans to pay for the installation of 300 MWp of solar PV systems on the roofs of industries by 2025.
On this occasion, Alamgir Morshed, executive director and CEO of IDCOL, said, "IDCOL has set a target to finance 300 MWp rooftop solar projects by 2025. Accordingly, IDCOL is not only providing a concessionary loan facility but also providing technical assistance to borrowers of rooftop solar projects."
The signing ceremony was attended by Alamgir Morshed, executive director and CEO, IDCOL, SM Monirul Islam, deputy CEO and CFO of IDCOL, Md Enamul Karim Pavel, head of Renewable Energy along with other officials of IDCOL.
Managing Director Selim H Rahman, Company Secretary Rezaul Karim, and other officials of Hatil Complex Ltd were also present during the ceremony.