BRAC Bank and IDCOL finance 64.55MW solar project in Pabna
BRAC Bank PLC and Infrastructure Development Company Limited (IDCOL) have jointly financed a landmark renewable energy initiative — a 64.55MW solar power plant operated by Bangladesh China Renewable Energy Company Limited (BCRECL).
A ceremony was held on 6 November 2025 at InterContinental Dhaka to mark the financial closure of the USD 67 million syndicated term loan facility for the project. BRAC Bank and IDCOL contributed USD 22 million and USD 45 million respectively in debt financing, reaffirming their commitment to supporting Bangladesh's clean energy transition.
The large-scale solar plant, located in Pabna, has already begun supplying clean electricity to the national grid, marking another step toward a sustainable energy future for Bangladesh.
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BCRECL is a joint venture between North-West Power Generation Company Limited (NWPGCL), under the Government of Bangladesh, and China National Machinery Import & Export Corporation (CMC).
Dr Ahsan H Mansur, Governor of Bangladesh Bank, attended the event as chief guest. Gayle Martin, PhD, Operations Manager for Bangladesh and Bhutan, The World Bank, and H.E. Dr Rüdiger Lotz, German Ambassador to Bangladesh, were present as special guests. The ceremony was chaired by Md Shahriar Kader Siddiky, Secretary of the Economic Relations Division and Chairman of IDCOL.
Also present were Alamgir Morshed, Executive Director and CEO, IDCOL; Tareq Refat Ullah Khan, Managing Director and CEO, BRAC Bank; and Qi Yue, Managing Director, BCRECL, along with senior officials from the participating organisations.
Speaking at the event, Tareq Refat Ullah Khan said, "Together with IDCOL, we have mobilised long-term financing for a project that delivers clean energy to the national grid, reduces carbon emissions and supports Bangladesh's renewable energy transformation. The commissioning of this solar plant stands as a testament to effective public-private collaboration in driving large-scale sustainable infrastructure."
Alamgir Morshed said, "At IDCOL, we are committed to advancing Bangladesh's clean energy transition through innovative financing. This 64.55MW solar park, financed jointly with BRAC Bank, marks a key milestone in expanding the renewable energy sector and reducing carbon emissions."
The partnership reflects the shared commitment of BRAC Bank and IDCOL to advancing renewable energy, promoting environmental sustainability, and strengthening Bangladesh's energy security through innovative financing solutions.
