Solar developer ib vogt has secured a power purchase agreement (PPA) for a 50MW solar PV plant in Bangladesh. The agreement, signed with the state-owned Bangladesh Power Development Board (BPDP), ensures the electricity generated from the plant will be sold at a fixed price of $0.1094/kWh over a 20-year period.
The PPA and Implementation Agreement for the project were signed by BPDP and Power Grid Bangladesh PLC with Sonagazi Solar Power Limited, which is sponsored by ib vogt. Located in the Chittagong district, southeastern Bangladesh, the project is expected to commence commercial operations in the second half of 2025.
Chittagong was chosen for its high irradiation levels, making it an ideal location for solar development. Last month, a subsidiary of Indonesia's Pertamina signed a memorandum of understanding to build a 500MW solar PV plant in the same region.
During construction, ib vogt will handle engineering, procurement, and construction (EPC) management, and will provide asset management once the project is operational.
This marks ib vogt's first project in Bangladesh, following its strategic entry into the market two years ago through a partnership with Filipino energy platform ACEN. The partnership aims to develop at least 1GW of renewable capacity across the Asia-Pacific region, focusing on late-stage, shovel-ready projects in countries like Indonesia, Vietnam, Malaysia, Laos, and Bangladesh.
“Bangladesh is taking concrete steps to bring solar power to their grid, giving people access to clean, renewable energy. We are honoured to be part of this transition and would like to thank BPDB, PGCB, and the Minister of Power, Energy, and Mineral Sources for their continuous support, constructiveness, and commitment in enabling us to reach this milestone,” said Anton Milner, CEO of ib vogt.
