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.