Rural Power Company Limited (RPCL), a Bangladeshi state-owned developer, is seeking partners to build a 50 MW solar plant at a site just outside of Dhaka.

RPCL wants to install the array at a location in Munshiganj district. It said it aims to set up a special purpose vehicle (SPV) with a joint venture partner under the Registrar of Joint Stock Companies and Firms (RJSC) in Bangladesh under the Companies Act, 1994.

The SPV will arrange debt financing for the project, conduct feasibility studies, select an EPC contractor, oversee generation, handle O&M, and sell the electricity from the project. Prospective partners should be solar developers with at least 50 MW of cumulative, grid-connected PV capacity within the last five years. 

Applicants should also have an average annual turnover of at least $30 million over the past three years, said RPCL. The final date for expressions of interest May 12. Commercial operations have been scheduled for December 2024.

RPCL said it eventually aims to install up to 300 MW of renewables capacity throughout Bangladesh. It is currently working on a 100 MW Solar power plant in Jamalpur district.

Bangladesh currently generates about 780 MW of electricity from renewable sources, with about 300 MW  of solar installed by the end of 2020, according to the International Renewable Energy Agency (IRENA). The nation aims to produce 40% of its energy from clean sources by 2040.