Paramount Textile to install 9.81MW rooftop solar plant at Gazipur factory
Paramount Solar is a firm in which 99.99% of the total paid-up capital is held by Paramount Textile.
With a view to ensuring sustainable business and reducing carbon emissions, Paramount Textile, a company listed on the stock exchanges, has decided to install a 9.81MW rooftop solar power plant at its factory in Gazipur.
In this regard, Paramount Textile PLC will enter into a power purchase agreement (PPA) with Paramount Solar Limited, according to a disclosure published on the stock exchanges yesterday.
Paramount Solar is a firm in which 99.99% of the total paid-up capital is held by Paramount Textile.
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Under the agreement, Paramount Solar will design, build, operate and manage the rooftop solar project under the OPEX model at a fixed tariff of Tk8.20 per kilowatt-hour, excluding VAT and AIT. The facility will be installed at the company's factory premises in Sreepur, Gazipur.
The solar power generator will supply electricity generated from the project for 20 years from the date the photovoltaic system is commissioned and becomes operational.
The company said its board of directors discussed and approved the decision at a meeting held on Sunday for signing the PPA between Paramount Textile and Paramount Solar.
At the beginning of the agenda, the textile company's Managing Director Shakhawat Hossain informed the board that the management had decided to install the rooftop solar facility at the factory premises to ensure sustainable business operations and reduce carbon emissions.
Paramount Textile reported that its consolidated profit fell 19% year-on-year in the second quarter of the current fiscal year due to a decline in revenue.
During the October-December period, the company posted a consolidated profit of Tk20.77 crore, with earnings per share (EPS) of Tk1.16.
In the same period of the previous fiscal year, the company reported a profit of Tk25.79 crore and EPS of Tk1.44, according to its financial statements.
For the first half of the 2025-26 financial year, profit declined 4.23% year-on-year to Tk42.27 crore, while EPS stood at Tk2.36. In the first half of FY25, the company reported a profit of Tk44.06 crore and EPS of Tk2.46.
In January this year, the company said Paramount Textile PLC and Paramount Holdings Limited, both part of the Paramount Group, planned to invest $268 million – around Tk3,275 crore – in four solar power plants with a combined capacity of 295 megawatts through a joint venture.
The Bangladesh Power Development Board awarded the Notification of Award (NOA) to the joint venture on 29 December last year for the development of the projects under the Public Procurement Rules, 2008.
