GDCL signs landmark deal with ADB for solar power project

Green Delta Capital Limited (GDCL), a leading merchant bank in Bangladesh has successfully closed a landmark transaction for the 35 MW Spectra Solar Park Limited (SSPL) project.

Asian Development Bank (ADB), the lead financier, is financing USD 17.72 million out of total by arranging $34 million. Financing also comes in the form of a loan from the ADS-Administered Canadian Climate Fund for the Private Sector in Asia II (CFPS II).

The German development finance institution DEG will provite USD16.4 million. 

Once in operation, the plant is expected to provide over 50 gigawatt-hours of clean electricity annually to the national grid and avoid 33,200 metric tons of carbon dioxide emissions.

Managing Director and Chief Executive Officer of Green Delta Capital Md Rafiqul Islam confirmed the matter.