IDCOL extends financing to Rancon Infrastructures for rooftop solar project
Infrastructure Development Company Ltd (IDCOL) recently signed a long-term loan facility agreement of Tk5.79 crore with Rancon Infrastructures & Engineering Ltd (RIEL) to finance their second rooftop solar project.
Under the Project, RIEL will install 1.0 MWp solar PV system on the factory rooftops of Rancon Electronics Ltd (REL) and Rancon Auto Industries Ltd (RAIL) located at Boro Bhabanipur of Gazipur's Kashimpur, said a press release.
Alamgir Morshed, executive director and CEO of IDCOL, and Mashid Rahman Abir, managing director of RIEL, signed the agreement on behalf of their respective organisations.
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Speaking on the occasion, Alamgir Morshed said, "Rancon Group is doing a fantastic job of contributing to the economy of Bangladesh. Their rooftop solar projects will encourage others to focus on green energy sources.
"To promote rooftop solar projects, IDCOL not only provides concessionary loan facilities but also technical assistance to its borrowers."
SM Monirul Islam, deputy CEO & CFO of IDCOL, Md Enamul Karim Pavel, head of renewable energy of IDCOL, and other officials of both organisations were also present at the occasion.
