Dhaka (Reuters) – India’s Amara Raja Group said on Tuesday it has secured a $130 million solar power project in Bangladesh, marking its debut in the international market.
The project consists of the engineering, design, supply, installation, and commissioning of a 100 megawatt solar power plant.
It will be funded by the EXIM Bank of India and completed in 18 months, Amara Raja Infra Private Limited (ARIPL), part of the Amara Raja Group, said in a statement.
After the project is commissioned, ARIPL will also provide comprehensive operation and maintenance services for two years, along with warranty spares and consumables, it added.
Bangladesh is facing its worst electricity crisis since 2013, a Reuters analysis of government data shows, due to erratic weather and difficulty paying for fuel imports amid declining forex reserves and a weakened currency.
The South Asian country plans to generate 4,100 MW of clean energy by 2030. Its renewable energy output in electricity generation currently is negligible.