02 October, 2019
IDCOL to raise syndicated term loan facility for a 100 MW (AC) Solar Park of Energon Renewables (BD) Limited
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 emerging concern of ORION, to raise a syndicated term loan facility for the establishment of a 100 MW (AC) solar park at Bora Durgapur, Mongla, Bagerhat.
The solar power plant will be developed on a Build-Own-Operate (BOO) basis under a 20-year Power Purchase Agreement (PPA) with the Bangladesh Power Development Board (BPDB). The project is expected to achieve commercial operation by August 2020.
IDCOL, the largest energy and infrastructure financier in the country, has already financed power projects supplying more than 2,000 MW to the national grid. The organization also plans to invest an additional USD 1 billion by 2021 to support the development of priority infrastructure projects in Bangladesh.