First private sector solar project in Bangladesh secures $121.55 million funding from ADB
DHAKA, April 30 -- The Asian Development Bank (ADB) has signed a $121.55 million financing package with Dynamic Sun Energy Private Limited to build and operate a 100-megawatt (MW) grid-connected solar photovoltaic power plant in Pabna, Bangladesh.
The plant is the country's first private sector utility-scale solar facility to secure support from global financiers, said the Manilla-based lending agency on Monday (April 29, 2024).
ADB arranged, structured, and syndicated the debt package as the sole mandated lead arranger and bookrunner.
The financing package comprises a $46.75 million loan from ADB, a syndicated B-loan of $28.05 million from ILX Fund I, an Amsterdam-based emerging market private credit fund focused on supporting the Sus...
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