Govt approves tariff for Bagerhat 300MW solar power plant

The government has approved a proposal on fixing of tariff for procuring electricity from the 300MW solar power plant to be set up in Rampal area under Bagerhat district.

The approval was given at the 28th meeting of the Cabinet Committee on Government Purchase (CCGP) in this year held virtually on Wednesday with Finance Minister AHM Mustafa Kamal in the chair.

BSS adds: Briefing reporters virtually after the meeting, Cabinet Division additional secretary Sayeed Mahbub Khan said that the day's CCGP meeting approved a total of 8 proposals.

He said following a proposal from the Power Division, the 300MW Solar Power Plant at Rampal Upazila under Bagerhat district would be set up by the Joint Stock Company of ACWA Power Company, Saudi Arabia; Comfit Composite Knit Ltd. Bangladesh, Viyellatex Spinning Ltd, Bangladesh and Midland East Power Ltd. Bangladesh under the supervision of the Bangladesh Power Development Board (BPDB).

Mahbub said once its operation is launched, power will be purchased from the aforesaid companies under "No Electricity, No Payment" basis for a period of 20 years where around Tk 10,761.60 crore would be required with a power tariff of Tk 11.067 for per kilowatt hour electricity.

In the overall arrangement, there will be 12 percent discount factor, 6 percent tax at source and 18.5 percent plant factor.