Teesta solar project sets green example

Beximco eyes recouping project costs within five years

About 40 kilometres away from the Rangpur city lies Latshal Char, a remote shoal on the bank of Teesta River. Upon traversing the extensive path, TBS found paved roads, electricity, a theme park, modern residential buildings, and commercial establishments.

Yet, five years ago, the narrative of the shoal was quite different. During the rainy season, it remained submerged in water, while in the summer, it used to bear the barren landscape of white sands. Local farmers would occasionally find patches of grass for grazing their livestock. With no proper roads or habitable environment, human presence was scarce in the area.

But the introduction of the Teesta solar plant by Beximco Group, one of the largest conglomerates in the country, has transformed the image of the remote area.

Not only has the image of the area changed, but Beximco has also achieved incredible success in terms of returns by undertaking the country’s largest solar project, titled Teesta Solar Limited. In the first year of production in the Tk3,000-crore solar project, the group has already earned Tk634 crore.

Beximco officials are saying that the project’s investment, raised through a $300-million sukuk bond, will yield returns within 5 years from the solar park.

Prime Minister Sheikh Hasina on 2 August 2023 inaugurated the solar power plant, which began transmitting power to the national grid from January that year on a trial basis.Md Tashikul Islam, general manager of the solar project, said the plant’s electricity production capacity has been 200 megawatts since its inception, depending on solar radiation. If solar radiation increases, electricity production rises, he said. “We have once produced as much as 212 megawatts..

The solar plant has so far supplied 42.31 crore units of electricity to the national grid, he said.

According to the agreement with the government, each unit of electricity generated by the Teesta Solar Project is priced at 15 cents, bringing the total revenue to Tk634 crore, said the official. “We expect the project costs to be recouped within five years.”

Infrastructure for the plant

Beximco began building the solar plant on 650 acres of land spanning in three northern districts — Rangpur, Gaibandha, and Kurigram — in 2017.

The investment of the project covered riverbank protection, road construction, land acquisition, installation of solar panels, and the construction of transmission lines connecting transformers to the national grid.

Gautam Das, project director of the solar plant, said a river embankment stretching 8 kilometres has been constructed for the project. Besides, he added, approximately 20 kilometres of new roads have been built to access the project site.

Describing the project, Gautam said about 5.5 lakh solar panels have been installed at the solar power plant. Besides, 85 mounting piles have been installed, he said.

Electricity is being generated through 120 inverters connected to these solar panels, said the project director. From the inverters, electricity is transmitted to the national grid through 28 box transformers and 132kV transmission lines including substations, he said.

Parallel project

Tashikul outlined the company’s plan to cultivate a variety of crops suitable for growth underneath the solar panels.

“We are planning to cultivate various crops underneath the solar panels. Alongside environmentally friendly electricity production, we will also cultivate crops such as rice, potatoes, and watermelons, among others, with low height. Some crop production has already begun,” he said.

Socio-economic development

Chief Engineer of Bangladesh Power Development Board in Rangpur Md Ashraf Hossain said, electricity obtained from the Teesta solar power plant is being supplied to districts including Rangpur, Gaibandha, Kurigram, Nilphamari, and Lalmonirhat in the northern region. As a result, load shedding has decreased in these regions, he said.

Nearly 10 lakh people in these areas have benefited from the development of business, commerce, industry, and agriculture, said the official.

Upon visiting, TBS has found that a theme park has been established centring the solar plant. Besides, the theme park and a riverbank protection dam led to the development of tourism business. Numerous tourists are flocking to visit the area. Business, commerce, and productivity have flourished in the vicinity. Local residents have indicated that land prices in the surrounding areas have increased several times.

Ahmed Shayan F Rahman, CEO of Beximco Group, expressed, “The Teesta solar project stands as a beacon of sustainable progress, illuminating Bangladesh’s path towards a greener future. Harnessing renewable energy on a grand scale, this initiative not only bolsters environmental efforts but also empowers communities, enhances livelihoods, secures a brighter tomorrow for generations to come, and sets a global standard for responsible energy development.”