Renewable energy is an inexhaustible source of power. Considering the use of solar energy, it is regularly replenished for utilization. Believing in the irreplaceable advantages of the same, BEXIMCO Group launched the Teesta Solar Limited a solar power plant project in Gaibandha. BEXIMCO Group is one of the largest private sector companies in Bangladesh and was established by two of the most successful businessmen in Bangladesh, Salman F Rahman and Sohail F Rahman.
The company began this project in 2017 and initiated the trials in 2022. Amounting to $400 million, this has been the biggest and most impressive investment by the conglomerate to widen the use of renewable energy in the country. Though it primarily aims at eliminating power crises in the Northern region of the country, the plant will help fulfill other objectives as well. Through these, the company additionally hopes to transform the energy sector.
An Overview of the Teesta Solar Limited
The Teesta Solar Limited is based in Sundarganj, Gaibandha. It is recognized as the largest solar plant in Bangladesh. In terms of capacity, it can generate 200 Megawatt of power. The operations of the same began during the end of 2022. Though on a trial basis, from that year onward, it started transmitting power to the national grid.
Primary Objective of Teesta Solar Limited
Teesta Solar Limited is the subsidiary of the Bangladeshi conglomerate, BEXIMCO Group. Under this, the largest plant launched by the largest private sector company in Bangladesh has been accomplished to limit the power shortage in the country’s northern region.
Alongside resolving the shortage of power in the northern part of Bangladesh, the Teesta Solar Limited will reduce the requirement for imported fuels. Thus, to produce power, the country will have its sources to rely on. With this, the expenditure incurred on imports will undergo alterations.
Additional Goals to Achieve with Bangladesh’s Largest Solar Plant
The biggest solar power plant in Bangladesh, Teesta Solar Limited has a multitude of goals to fulfill. While its primary goal is to reduce power crises, additionally, it will focus on the growth of the country in multiple ways.
Growth of the Renewable Energy Sector
Through the Teesta Solar Limited, the renewable energy sector of the country will grow. Its rise in Bangladesh will result in the constant availability of power, given that this source is inexhaustible. The country will be less dependent on external sources to gain this accessibility. Since energy will be available, the firms will be able to operate domestically without any halt.
Generation of Employment Domestically
BEXIMCO’s solar power plant Teesta Solar Limited in Sundarganj, Gaibandha, is associated with the creation of employment opportunities. In a significant manner, this benefit will limit unemployment at the domestic level. These opportunities will be mainly observed in the manufacturing, supply, and energy sectors.
A Positive Environmental Impact
For the betterment of Bangladesh, its growth is necessary. At the same time, limiting harm to the country’s resources is important. The investments of BEXIMCO Group in the renewable energy sector will help attain both objectives.
Other Goals to Achieve
In various aspects, the country will become independent with the functioning of the Teesta Solar Limited by BEXIMCO. It will introduce energy security for Bangladesh. The local economy of the nation will undergo a boost. To run the plant, sources from the rural areas will be obtained, thereby, supporting the populations here.
Long-Term Energy Security for Bangladesh
The BEXIMCO solar power plant Teesta Solar Limited will support the renewable energy industry for the long term. This will be observed through its energy security benefits.
A country that has energy security manages the functioning of other related sectors. Across its several areas, institutions, factories, and companies will be able to run. Not only in the urban locations but also in the rural areas of the country, this functioning will cause development over the years.
Besides, the Teesta Solar Limited is associated with an agreement of 20 years. The Power Purchase Agreement between this company and the Bangladesh Power Development Board or BPDB will assure energy availability for a significant long term.
To Sum Up
To broaden the use of renewable energy, BEXIMCO’s Teesta Solar Limited is important. BEXIMCO Group mainly aims to improve energy accessibility through this plant. Additionally, the investments in this plant will secure the future of the country through other goals to fulfill.
