IDCOL signs term loan agreement for solar projects with Rising Industries
Infrastructure Development Company Limited (IDCOL) signed a term loan agreement with Rising Industries Limited, a company of the Rising Group, to finance a 3.10 MW peak rooftop solar project in Manikganj.
IDCOL will provide concessional loans and technical assistance for project implementation, said a press release.
The agreement was signed at a ceremony at the IDCOL head office on 9 February. IDCOL Executive Director and Chief Executive Officer Alamgir Morsed and Rising Industries Limited Managing Director Mahmud Hasan Khan were present on behalf of their respective organisations.
Keep updated, follow The Business Standard's Google news channel
According to the media release, equipment used in the project includes solar panels from China-made Trina Solar and inverters from Huawei. Through this project, the company is expected to generate 3.7 GWh of electricity per year.
Rising Industries Limited will use almost the entire power generated by the project and supply any remaining power to the national grid through a net-metering system.
