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PROINSO and its client Joules Power Limited received the Asian Power Award 2018 in the category “Solar Power Project of the Year – Bangladesh” for the 28 MWp utility‑scale solar plant located in Teknaf, Bangladesh. This landmark development is the first large‑scale solar installation in the country, marking an essential milestone toward the Bangladeshi government’s national objective of generating 2,000 MW of solar power by 2021.
The project’s foreign‑currency financing was structured by Standard Chartered Bank, supported by a risk guarantee from GuarantCo, part of the Private Infrastructure Development Group (PIDG). The local‑currency financing was arranged by a consortium of Bangladeshi banks led by One Bank Limited. This financing model set a benchmark for future renewable‑energy investments in Bangladesh, enabling large‑scale solar deployment in a nation projecting significant increases in electricity demand.