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Infrastructure Development Company Limited (IDCOL) signed a Term Loan facility agreement with Rising Industries Ltd (RIL), a concern of Rising Group, to finance a 3.10-MWp rooftop solar project at Nayadingi, Saturia, Manikganj.
The IDCOL will provide concessionary loan and technical support for implementing the project, reads a press release.
A signing ceremony was held at IDCOL head office in Dhaka, where senior officials from both organisations, including IDCOL executive director and CEO Alamgir Morshed and RIL managing director Mahmud Hasan Khan, were present.
The project equipment includes solar panels from Trina Solar and inverters from Chinese tech giant Huawei.
The project is expected to generate 3.7 GWh of electricity every year.
The RIL will consume almost the entire generation from the project and export any excess electricity to the national grid through net-metering arrangement.