GBB Power Limited is set to invest up to Tk 60 million in a 5.005 MWp ground-mounted solar power plant at Cumilla Cantonment under a 25-year power purchase agreement with the Bangladesh Army.
The listed power company will implement the project through its subsidiary, Solaron Power Limited, which has entered into the agreement with the Station Headquarters, Cumilla Cantonment, 33rd Infantry Division, Bangladesh Army, according to a stock exchange disclosure on Monday.
The project will be developed under an OPEX/BOOT (Build, Own, Operate and Transfer) model, under which Solaron Power will install and operate the solar plant and supply electricity for 25 years from the commercial operation date.
GBB Power’s board of directors approved the project at a meeting held on Sunday, the company said.
The total investment in the project is not expected to exceed Tk 60 million, according to the disclosure.
The commercial operation date is expected to fall within the first half of 2027.
Solaron Power is a subsidiary of GBB Power, with the listed company holding a 70 per cent stake. The remaining 30 per cent is owned by strategic partners with expertise in the solar energy sector. Despite the disclosure, its stock price fell 2.1 per cent to Tk 14.60 at noon on the Dhaka Stock Exchange.
Source: The Business Standard
Read More at: csslbd.net
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