Energy Bangla

Energy electricity and environment news portal

Dhaka Monday,  May 29, 2017

IDCOL Finance Solar Irrigation Projects of Gazi Renewable Energy

EB Desk

Infrastructure Development Company Limited (IDCOL) signed Financing Agreement

with Gazi Renewable Energy Company Limited (GREL) on 8 December 2016 for setting

up one hundred and eighty six (186) solar irrigation pumps at different districts of the

country. Under the Project, GREL will install one hundred & thirty four pumps in Birganj

upazila, six pumps in Kaharole upazila, four pumps in Khanshama upazila of Dinajpur

district, forty two pumps in Badarganj upazilla of Rangpur district and will procure and

operate nine (9) tractors and nine (9) trailers for providing tillage and carrying services in the

project sites. Total cost of the project is BDT 49.25 crore. IDCOL will provide BDT 17.89

crore as loan and BDT 23.91 crore as grant under the project. The fund for loan and grant will

be sourced from Japan International Cooperation Agency (JICA) and BCCRF fund

managed by The World Bank.

IDCOL has a target of financing 1,500 solar irrigation pumps by 2018 and 50,000 by 2025 to

replace diesel operated pumps in rural Bangladesh.

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