Paramount Textile Ltd (PTL) a Bangladesh based apparel company has decided to invest a 100-MW solar project in Bangladesh by purchasing a 49% stake in Dynamic Sun Energy Private Ltd.
The fabrics maker said in a bourse filing last week it will embark on the project in a bid to diversify its business.
For that purpose, PTL will form a joint venture to co-develop the project with Dynamic Sun, whose largest shareholder is India’s Shapoorji Pallonji Infrastructure Capital Co.
The photovoltaic (PV) park is set to be installed at a total cost of some BDT 13 billion (USD 153.1m/EUR 141.6m).
It will be located in the Pabna district in northwestern Bangladesh and will be connected to the national power grid. Its output will be sold at a tariff of USD 0.1195 (EUR 0.1111) per kWh under a 20-year contract.