RPCL seeks partner to set up 50MW solar plant

Originally posted in The Business Standard on 02 April 2022

The state-owned company recently floated a tender to this end

File Photo: REUTERS

Rural Power Company Limited (RPCL), a state-owned power generation company, is looking for a partner to set up a 50MW solar photovoltaic power plant at Gazaria in Munshiganj.

To this end, it has recently floated a tender seeking expressions of interest from companies from home and abroad.

“We are eying to set up the special purpose vehicle with a joint-venture partner. We will provide the required land for the project but the partner will have to arrange debt financing,” said Md Abdus Sabur, managing director of RPCL.

“Besides, it [partner] will have to appoint engineering, procurement and construction contractors, oversee production, and sell the electricity,” he told The Business Standard.

The prospective partners should have experience in developing solar projects of – at least 50 MW of cumulative, grid-connected PV capacity – within the last five years, reads the tender.

It also says the interested entities have to have an average annual turnover of at least $30 million over the past three years. The deadline for submitting the expressions of interest is 12 May.

The commercial operation of the solar power plant is expected to begin within December 2024.