Daehan Green Power Selected as Preferred Negotiation Partner for Bangladesh Solar Power Project

[Asia Economy Reporter Hyungsoo Park] Daehan Green Power announced on the 23rd that, together with Daehan Green Energy, it has been selected as the preferred negotiator for the approximately 100 billion KRW Bangladesh ‘70MW (AC) Grid-Tied Solar PV Solar Power Project’.

The Bangladesh Power Development Board (BPDB) is establishing a large-scale solar power facility with a total capacity of 70 megawatts (MW). Daehan Green Power and Daehan Green Energy have been selected as preferred negotiators for the construction and installation of the solar power plant, establishment and operation of power generation facilities, and maintenance in the Ishwardi Pabna region of Bangladesh. The final participation decision will be made through negotiations with BPDB.

Bangladesh’s average annual GDP growth rate exceeds 6%. Along with rapid economic growth, electricity consumption is rapidly increasing, especially in urban areas. Despite the increase in generation capacity, the goal of '100% electrification nationwide' has not been achieved. The electricity utilization rate in Bangladesh is only 43% compared to capacity.

The Bangladesh government is expanding renewable energy projects considering drawbacks such as grid losses and infrastructure shortages. It has set a policy to increase the share of renewable energy in total power generation to over 10%. Installation of solar power systems is being encouraged.

A company official said, "Being selected as the preferred negotiator for a large-scale overseas project is a recognition of Daehan Green Power’s competitiveness in the renewable energy business."

He added, "Since this is a large-scale project being promoted overseas, many variables may arise. We plan to carefully review national stability, creditworthiness, and project feasibility and make a prudent decision."