The Chittagong Port Authority has signed an agreement to install an 8.42 megawatts (MW) rooftop solar power plant under its “Green Port Initiative”, aiming to reduce electricity costs and reliance on the national grid.
The agreement was signed on Monday at the port’s One-Stop Service Centre with Greener Garments Initiative Ltd (GGI), according to a statement by the port authority.
Port Chairman Rear Admiral SM Moniruzzaman and GGI Chief Executive Officer Mohammad Nure Alam signed the agreement.
The agreement says GGI will finance and implement the project under an operating expense (OPEX) model, in line with government directives.
The Chittagong Port Authority is not required to make any initial capital investment or provide funding.
GGI will be responsible for the project’s overall design, procurement of equipment, construction, testing, operation, and maintenance.
The port authority will purchase the generated electricity at a predetermined rate, as stipulated in the agreement.
The solar plant will supply electricity to the port for 20 years from the start of commercial operations, providing an alternative source of power and reducing pressure on the national grid.
The Chittagong Port Authority will source a portion of its daily electricity requirements from this solar project.
Chittagong Port Secretary Syed Refayet Hamim told bdnews24.com, “This initiative will provide the port with an alternative source of electricity while simultaneously reducing the load on the national grid.
“By utilising this solar power, the port is expected to save around Tk 1 billion on its electricity bills over the next 20 years.”
The authority said the project would also support the use of renewable energy and contribute to carbon credit goals in line with the United Nations’ Sustainable Development Goals and the Paris Agreement.