These solar plants will provide electricity to the national grid through long-term power purchase agreement
Energypac Eletronics Limited has recently signed a Joint Development Agreement (JDA) with MPWRNRGY Pte. Ltd. (Singapore) to co-develop solar power plants in Bangladesh.
The agreement aims to aid in Bangladesh’s vision to generate clean energy and achieve the targeted Sustainable Development Goals (SDGs), said a press release.
The proposed utility scale solar PV plants will generate electricity, converting energy from the sun which is considered unlimited and is free from emissions, unlike fossil fuels that are limited and release carbon dioxide (CO2) in the atmosphere causing the Earth to retain more heat and resulting in climate change.
These solar plants will provide electricity to the national grid through long-term power purchase agreement (PPA) or existing net metering system approved by Bangladesh government.
The agreement aims to combine the strengths of Energypac Electronics’ local presence as an experienced player in electrical solutions and MPWRNRGY’s experience in developing and executing large-scale solar power projects.
Energypac Electronics Limited provides reliable, efficient, and expert energy solutions in Bangladesh whereas MPWRNRGY is a Singaporean company that develops, installs, and operates green technologies.
Solar Parks produce safe and locally produced energy. Developing clean and renewable energy has become vital for Bangladesh to meet the SDGs within the stipulated time, said Ahmed Mashroor Huda, head of brand and market communication of Energypac Electronics Limited.
“Moreover, numerous people in the rural parts of the country still do not have access to electricity, which negatively affects their lifestyles. Thus, creating sustainable solar parks holds the potential to meet the growing energy demand of our population while improving the quality of life,” he added.
“Bangladesh has one of the world’s largest domestic energy programs. The opportunities created by implementing Solar PV generation are manifold, including reduced CO2 emissions and other pollutants. This is the right time for Bangladesh to integrate renewables into the grid, implementing additional solutions such as energy storage improving stability and downtime,” said Nabeel Ismeer, co-founder of MPWRNRGY.