ADB to offer $121 million mortgage to Bangladeshi textile producer Paramount Textile PLC to construct 100 MW solar energy plant.

Paramount Textile’s Dynamic Sun Energy unit will construct and function the power, which shall be inbuilt Pabna district, within the heart Bangladesh.

The venture is the primary personal sector utility-scale photo voltaic facility to get monetary help from ADB. the Based in Manila The lender arranges, constructions, and syndicates the mortgage bundle as the only real mandated lead arranger and bookrunner.

The financing bundle features a $46.75 million mortgage from ADB, a syndicated B-loan of $28.05 million from ILX Fund I, and a syndicated parallel mortgage of $46.75 million from the Japan International Cooperation Agency.

“Like ASIAThe local weather financial institution, ADB welcomes the chance to help renewable vitality in Bangladeshthe place getting long-term financing for such tasks is a problem,” mentioned ADB Private Sector Operations Department Director General Suzanne Gaboury. “This partnership demonstrates our main function in mobilizing financing for clear vitality services and inspiring extra funding in sectors the place it’s most wanted.”

Paramount Textile is a publicly listed firm and one of many largest producers of woven material within the Bangladesh. In August 2022, it switched on a 30 MW photo voltaic plant in northern Bangladesh.

This content material is protected by copyright and might not be reused. If you wish to cooperate with us and wish to reuse a few of our content material, please contact: [email protected].