Walton inaugurates IDCOL financed rooftop solar project

Infrastructure Development Company Limited (IDCOL), the leading entity in private sector renewable energy and infrastructure financing in Bangladesh, financed a 3.3 MWp Rooftop Solar project of Walton Hi-Tech Industries PLC. The project's inauguration ceremony took place at Walton's cutting-edge manufacturing plant in Chandra on 11 November 2023.

Sharifa Khan, senior secretary of the Economic Relations Division (ERD) and chairman of IDCOL; presided over the event and officially inaugurated the project. In attendance were Alamgir Morshed, executive director and CEO, IDCOL; Shamsul Alam, chairman of Walton; Michael Sumser, country director of KfW for Bangladesh and Nepal; Md Enamul Karim Pavel, head of Renewable Energy at IDCOL; M Maftun Ahmed, company secretary of IDCOL, along with officials from both IDCOL, KfW and Walton, reads a press release.

During the ceremony, Sharifa Khan commended Walton's accomplishments in adopting energy-efficient and renewable energy technologies and highlighted their contribution to elevating Bangladesh-made products on the global stage.

In his speech, Michael Sumser expressed his enthusiasm and satisfaction with the collaboration between KfW and IDCOL in advancing renewable energy in Bangladesh, particularly with the support of prominent brands like Walton.

SM Shamsul conveyed his appreciation to IDCOL for their support and technical guidance in executing the project. He also articulated a strong commitment to embracing renewable energy technology and enhancing energy efficiency, expressing the desire to sustain the partnership with IDCOL.

IDCOL's CEO, Alamgir Morshed said, "IDCOL is not only providing competitive financing solutions, but also providing technical support to its borrowers for rooftop solar projects. To facilitate rooftop solar project, the government introduced Net Metering Guideline [NEM]. This support aligns with the government's objective of achieving 4,200 MW of electricity from renewable sources by 2030."

IDCOL is committed to providing sustainable financial solutions for a smarter tomorrow.