Written by The Banking Post
BRAC Bank PLC and Infrastructure Development Company Limited (IDCOL) have jointly financed a $67 million syndicated loan to Bangladesh China Renewable Energy Company Limited (BCRECL) for developing a 64.55 MW solar power plant in Pabna — one of the largest renewable energy projects in the country.
The financial closure ceremony took place on November 6, 2025, at InterContinental Dhaka, marking a major milestone in Bangladesh’s clean energy financing. BRAC Bank contributed $22 million, while IDCOL provided $45 million in debt financing.
The solar plant has already started supplying electricity to the national grid, furthering Bangladesh’s transition toward renewable energy and supporting its sustainability goals.
BCRECL — a joint venture between North-West Power Generation Company Limited (NWPGCL) of Bangladesh and China National Machinery Import & Export Corporation (CMC) — operates several solar power projects in the country.
Dr. Ahsan H. Mansur, Governor of Bangladesh Bank, attended the event as chief guest, alongside Gayle Martin, Operations Manager for Bangladesh and Bhutan at the World Bank, and Dr. Rüdiger Lotz, German Ambassador to Bangladesh, as special guests. The event was chaired by Md. Shahriar Kader Siddiky, Secretary of the Economic Relations Division and Chairman of IDCOL.
Tareq Refat Ullah Khan, Managing Director and CEO of BRAC Bank, said the project demonstrates how effective public-private collaboration can drive sustainable infrastructure. “Together with IDCOL, we have mobilised long-term financing for a project that delivers clean energy to the national grid, reduces carbon emissions, and supports Bangladesh’s renewable energy transformation,” he said.
Alamgir Morshed, Executive Director and CEO of IDCOL, added that the partnership marks a significant step toward expanding Bangladesh’s renewable energy capacity. “This solar park is a key milestone in boosting the green energy sector and cutting carbon emissions. We thank BCRECL for leading the way toward a cleaner, more sustainable future,” he said.
