IDCOL to finance 300MW solar projects by 2025

Infrastructure Development Company Limited (IDCOL) has set a target to finance rooftop solar power system projects of a total generation capacity of 300 megawatts by 2025 in line with a government vision, said IDCOL Executive Director Alamgir Morshed recently. 

The government aims to generate 4,200 megawatts of electricity from renewable energy sources by 2030.

Morshed was addressing a workshop styled "Installation of rooftop industrial solar system" organised by the IDCOL and Chittagong Chamber of Commerce and Industry (CCCI) at Radisson Blu Chattogram Bay View on Tuesday, said a press release.

The cost of generating electricity from rooftop solar power systems is cheaper than that of grid tariff for which financing such projects makes financial sense, he said.

The IDCOL not only provides low-cost financing but also technical support, quality equipment purchases and capacity building, he said.

CCCI President Mahbubul Alam, among others, was present.