Home ›› 04 Feb 2023 ›› Corporate
Janata Jute Mills Ltd, a concern of Akij Group, has implemented a 2.40 MWp rooftop solar project financed by Infrastructure Development Company Ltd (IDCOL) at Boalmari, Faridpur.
Along with the concessionary loan, IDCOL also provided technical support for implementing the project, said a press release.
The project was inaugurated on Wednesday, where senior officials from IDCOL and Akij Group were present.
The project equipment includes solar panels from Trina Solar and inverters from Huawei in China. It is expected to generate 2.76 GWh of electricity every year.
Janata Jute Mills Ltd will consume almost an entire generation from the project and export any excess electricity to the national grid through a Net-Metering arrangement.
IDCOL was established on May 14, 1997, by the government, later, the company was licensed by the Bangladesh Bank as a non-bank financial institution (NBFI) on 5 January 1998.
Since its inception, IDCOL has been playing a major role in bridging the financing gap for developing medium to large-scale infrastructure and renewable energy projects in Bangladesh. The company now stands as the market leader in private-sector energy and infrastructure financing in Bangladesh.
IDCOL is managed by an eight-member independent board of directors comprising four senior government officials, three representatives from the private sector and a full-time executive director and chief executive officer.
It has a small and multi-skilled workforce comprising financial and market analysts, engineers, lawyers, IT experts, accountants and environmental and social safeguard specialists. IDCOL's stakeholders include the government, private sector, NGOs, multilateral and bilateral institutions, academics,
IDCOL received the Certificate of Merit in SAFA Best Presented Annual Report Awards 2020 under Public Sector Entities category. Also bagged the Financial Innovation Award 2019 under the Best Sustainable Finance Initiative category for implementing Solar Irrigation Pump Project in Bangladesh.
