Green Delta Capital to raise $40m for Spectra Solar Park

FT ONLINE

Green Delta Capital Limited (GDCL) Sunday signed a mandate with Spectra Solar Park Limited (SSPL) under which GDCL will act as Mandated Lead Arranger to raise up to USD 40 million through syndicated loan & equity for 35 mw solar power plant of Spectra Solar Park Limited.

Spectra Solar Park Limited (SSPL), a concern of Spectra Engineers Limited, will set up a 35 MW Grid Tied Solar Power Plant at Paturia, Shibaloy, Manikgonj.

GDCL will arrange foreign currency term loan from foreign lending institutions for this solar project.

Mr. Md. Rafiqul Islam, Managing Director & CEO of Green Delta Capital Limited and Mr. Engr. Khan Md. Aftabuddin, group Chairman of Spectar Group signed the mandate on behalf of their respective organizations, said a statement.

Mr. Nasir A Choudhury, Chairman of GDCL and Mr. Mahaboob Kainat, Consultant of Spectra Solar Park Limited along with other officials from both GDCL and SSPL were present in this signing ceremony.

Green Delta Capital Limited (GDCL) is a full-fledged merchant bank where GDCL is working to improve the socio economic conditions of Bangladesh in line with the vision of the government.

Bangladesh is committed to achieve 17 Sustainable Development Goals by 2030, which includes combating climate change and increasing energy access from renewable energy sources. Current power generation from renewable energy is only 3.10 per cent.

Government is planning to generate 10 per cent of power from renewable sources by 2020.

Currently in Bangladesh, there are a total of 19 solar parks under planning with expected power generation capacity of 1,330.60 MW.

In line with the government plan of environment-friendly power generation, GDCL is working to arrange the financing for the renewable energy sector.