Currently, the bulk power tariff is Rs 6.2 per unit, while the energy regulator is hearing a proposal to increase the retail price on weighted average from Rs 7.13 per unit to Rs 8.23.
Bangladesh, one of the countries most sensitive to the effects of climate change, formed BCRECL in September 2020 in equal partnership with China. China National Machinery Import and Export Corporation and Bangladesh’s North-West Power Generation Company have invested in the project.
The first initiative of the joint venture is the $87.7 million 68 MW solar power project on 210 acres of land on the banks of the Jamuna river in Sirajganj, which aims to supply 500 MW of power.
Officials at the signing ceremony said supplies from the plant at Sirajganj are expected to begin by the end of 2023.
The Awami League government had set a goal of producing 10 percent of the country’s electricity from renewable energy, but it has been little successful in achieving this goal.