Dubai – Mubasher: Almaden Emirates Fortune Power (AEFP) and Intraco Solar Power (ISL) companies have signed a memorandum of understanding (MoU) for the building of 5-gigawatt solar power plants in Bangladesh, with $5 billion funds presented by the Arab Investment Development Authority (AIDA).
The MoU will include close cooperation in current and ongoing solar projects across Bangladesh, according to a company statement released on Thursday.
AEFP’s chairman Ghanim Al Mazrouei commented: “We are delighted to be part of this life-changing project partly because of the positive impact it is bound to have on the lives of rural folks, especially, in Bangladesh.”
The planned solar power plants will be completed over the coming six to seven years and will be powered by 14 million solar panels, which will be the largest solar power plants investment in Bangladesh.
AIDA’s chairman stated: “The development will reach its maximum capacity by 2030 in line with the expectations of the Government of Bangladesh and may cost close to $5 Billion. We intend to harness all the re-sources and our experiences for the success of the project.”
