The Amara Raja Group, an Indian conglomerate, has announced its successful bid for a $130 million solar power project in Bangladesh, signaling its entry into the global market. The project entails various stages, including engineering, design, supply, installation, and commissioning, for a 100-megawatt solar power plant.

This venture marks a significant milestone for the Amara Raja Group as it expands its presence beyond domestic borders and contributes to the renewable energy sector in Bangladesh.

Amara Raja Infra Private Limited (ARIPL), a subsidiary of the Amara Raja Group, has disclosed that the $130 million solar power project in Bangladesh will be funded by the Export-Import Bank of India. The company expects to complete the project within a timeframe of 18 months, as stated in a press release.

ARIPL further revealed its commitment to providing comprehensive operation and maintenance services for a duration of two years following the commissioning of the project, including warranty spares and consumables.

This development comes at a crucial time for Bangladesh, which is currently grappling with its most severe electricity crisis since 2013. An analysis of government data conducted by Reuters indicates that the country's electricity supply has been significantly affected by unpredictable weather patterns and challenges in financing fuel imports due to declining foreign exchange reserves and a weakened currency.

The implementation of the solar power project by the Amara Raja Group aims to alleviate the energy crisis and contribute to the sustainable development of Bangladesh's power sector.

Bangladesh has set an ambitious goal of generating 4,100 megawatts (MW) of clean energy by the year 2030, as reported by sources. The country currently has a negligible share of renewable energy in its electricity generation.

Recognizing the need for sustainable and environmentally friendly energy sources, Bangladesh aims to significantly increase its capacity for generating clean power. This move aligns with the global shift towards renewable energy as a means to combat climate change and reduce reliance on fossil fuels.

By diversifying its energy mix and increasing the contribution of renewable sources, Bangladesh seeks to improve energy security, reduce carbon emissions, and create a more sustainable power sector for the future.

Image source: Business Standard