IDCOL finances Rising Industries for rooftop solar project

Infrastructure Development Company Limited (IDCOL) has signed a term loan facility agreement with Rising Industries Ltd (RIL), a concern of Rising Group, to finance a 3.10 MWp rooftop solar project at Nayadingi, Saturia, Manikgonj.

IDCOL will provide concessionary loan and technical support for implementing the project, read a press release on Sunday.

A signing ceremony was arranged at IDCOL head office in Dhaka, where senior officials from both the organisations, including IDCOL Executive Director & CEO Alamgir Morshed and Rising Industries Ltd Managing Director Mahmud Hasan Khan, were present.

The project equipment includes solar panels from Trina Solar and inverters from Huawei, China. This project is expected to generate 3.7 GWh of electricity every year.

Rising Industries Ltd will consume almost the entire generation from the project and export any excess electricity to the national grid through Net-Metering arrangement.