{"id":76474,"date":"2023-03-14T06:13:28","date_gmt":"2023-03-14T06:13:28","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/03\/14\/project-update-acwa-powers-1-gw-solar-plant-in-bangladesh-slated-to-be-operational-in-2024\/"},"modified":"2023-03-14T06:13:28","modified_gmt":"2023-03-14T06:13:28","slug":"project-update-acwa-powers-1-gw-solar-plant-in-bangladesh-slated-to-be-operational-in-2024","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/03\/14\/project-update-acwa-powers-1-gw-solar-plant-in-bangladesh-slated-to-be-operational-in-2024\/","title":{"rendered":"Project update: Acwa Power\u2019s 1 GW solar plant in Bangladesh slated to be operational in 2024"},"content":{"rendered":"

<\/a> Acwa Power\u2019s solar plant plans in Bangladesh moves forward:<\/strong> Saudi renewables giant Acwa Power and the Bangladesh Power Development Board (BPDB) are ramping up plans to develop and launch a planned 1 GW solar plant<\/a> with a proposed timeline of bringing the project online next year, Arab News<\/a> reports, quoting Bangladesh\u2019s Energy and Power Minister Nasrul Hamid.<\/p>\n

New details:<\/strong> The project \u2014 which Acwa Power inked an agreement for in late November<\/a> \u2014 is expected to cost some USD 1 bn, Hamid told the news outlet, adding that officials are currently completing feasibility studies on the project.<\/p>\n

What we already knew: <\/strong>Acwa Power will bring the technical know-how and line up funding<\/a> for the project, while BPDB will provide administrative support alongside the state-owned Sustainable and Renewable Energy Development Authority.<\/p>\n

More in the pipeline:<\/strong> Saudi Arabia and Bangladesh have also established a joint business council to support and accelerate cooperation in power generation \u2014 including the development of a solar power plant \u2014 and other sectors like agriculture and logistics, the news outlet reports.<\/p>\n

Acwa Power is aggressively expanding its portfolio in Asia:<\/strong> The company has been investing heavily in a southeast Asian expansion<\/a> with projects in Indonesia and Thailand, and signed power purchase and investment agreements with the National Electric Grid of Uzbekistan for a 1.5 GW, USD 2.4 bn wind energy farm. The company is also developing a 240 MW wind farm<\/a> in Azerbaijan with a reported investment of USD 300 mn. Earlier this month, Acwa signed an agreement with Kazakhstan\u2019s Sovereign Wealth Fund (Samruk-Kazyna) and the Kazakh Energy Ministry to build and manage a 1 GW wind farm<\/a> and a battery energy storage facility in the country. Acwa also signed a USD 2.5 bn<\/a> power purchase and investment agreement with Uzbekistan's Energy Ministry to develop two solar stations and three storage facilities this month.<\/p>\n","protected":false},"excerpt":{"rendered":"

Acwa Power\u2019s solar plant plans in Bangladesh moves forward: Saudi renewables giant Acwa Power and the Bangladesh Power Development Board (BPDB) are ramping up plans to develop and launch a planned 1 GW solar plant with a proposed timeline of bringing the project online next year, Arab News reports, quoting Bangladesh\u2019s Energy and Power Minister […]<\/p>\n","protected":false},"author":1,"featured_media":76475,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[171],"tags":[184,11,88,159,94],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-76474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar","tag-acwa-power","tag-enterpriseclimate","tag-renewables","tag-saudi-arabia","tag-solar","wpautop","entry"],"acf":{"mongo_id":"c19a6af4-af99-480d-ac44-0df70b8f1a8f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/1971.jpg","photo_position":"above","related_issue":[76465],"teaser":"","voice_url":""},"yoast_head":"\nProject 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