North-West Power Generation Company, an enterprise of the Bangladesh Power Development Board, is set to build an 80MW solar power plant in the Padma Bridge project area. The company signed a 30-year lease agreement with the Bangladesh Bridges Authority (BBA) for 180 acres of land in October 2024. The estimated project cost is Tk 871.56 crore (approximately $71.44 million), with a target completion date of 2027.
The project is in line with the government’s renewable energy vision to enhance power generation. North-West Power is already working on two solar power plants, the Sirajganj 6.55MW Grid-Connected Solar PV Power Plant and the Sirajganj 68MW Solar Park. To further expand its capacity, the company has been seeking suitable locations for new solar power plants across Bangladesh.
A preliminary project proposal for the Padma 80MW Solar Power Plant Project has been submitted to the Planning Commission for in-principle approval. The estimated construction cost includes a foreign loan of Tk 704.31 crore, Tk 33.57 crore from government funds, and Tk 133.67 crore from the company’s own funds.
The project’s 20-year levelized tariff is estimated to be $0.0752 USD/kWh, which is lower than other recent solar PV projects in Bangladesh. However, a detailed feasibility study is still required to finalize the project’s design, orientation, and cost. The consulting firm for the feasibility study is being appointed, and the report is expected to be completed before the preparation of the detailed project proposal. The actual tariff of the project will be finalized based on the confirmed project cost.