Infrastructure Development Company Limited (IDCOL) signed facility agreement with Rancon Infrastructures and Engineering Ltd to finance their first and second phase of rooftop solar project on 9 July 2024.
Under the Project, RIEL will install 1.3 MWp solar PV systems on the factory rooftops of Rancon located at Rancon Industrial Park, Boro Bhabanipur, Kashimpur, Gazipur.
Alamgir Morshed, Executive Director & CEO of IDCOL said "RIEL is doing a fantastic job by contributing to the economy of Bangladesh. Its rooftop solar project will encourage others to focus on green energy sources. To Promote rooftop solar projects, IDCOL is providing concessionary loan facility along with providing technical assistance to borrowers."
Md Badiuzzaman, Executive Director of Rancon Infrastructures and Engineering Ltd and other officials of both the organizations were present in the signing ceremony.
Electricity produced from this project will reduce electricity bills of RIEL and ensure less diesel consumption during load shedding. In addition, the project owners can transmit unutilized electricity generated from the project to national grid through Net Metering Guideline 2018.
