Summary
Technaf Solartech Energy Limited (TSEL) is a 20 MW national grid-tied solar power plant located on the shores of the Naf river in Teknaf on 116 acres of land. TSEL is a solar IPP that is a majority owned subsidiary of Joules Power Limited. Having successfully started commercial operations on September 15, 2018 it is currently the largest solar power plant in Bangladesh. TSEL signed a Power Purchase Agreement with the Bangladesh Power Development Board and the Government of Bangladesh to supply 20 MW of power to the national grid for a period of 20 years. Over this period, TSEL is expected to achieve carbon emission savings of approximately 400,000 tons. The project was developed in line with IFC compliance standards, using industry leading technology from Bloomberg Tier 1 companies from Europe and Asia.
International Award-Winning Project
Given the unique nature of the project in the context of the energy and business landscape of Bangladesh, TSEL is honored to be recognized by two prestigious international awards. The Finance Asia Awards 2018 recognized TSEL as the “Best Bangladesh Deal”. GuarantCo, a risk guarantee fund operating under the Private Infrastructure Development Group (PIDG), provided a credit guarantee to support a 15-year, $13.5 million dual currency financing solution on behalf of TSEL; making it a first-of-its-kind landmark transaction for Bangladesh. On September 19, 2018 Joules Power Limited (parent company of TSEL) along with procurement partner PROINSO UK, were also announced as the winners of the Asian Power Awards 2018 “Solar Power Project of the Year”.
World Bank Financing – Investment Promotion and Financing Facility II (IPFF 2)
The Government of the Peoples' Republic of Bangladesh, with support from the World Bank, is undertaking the Investment Promotion and Financing Facility II (IPFF II) Project to help alleviate constraints in infrastructure financing. TSEL is currently in the process of availing this facility with joint administrative support from Bangladesh Bank and One Bank Limited. As part of the compliance mandate from the World Bank we have shared our Environmental and Social Impact Assessment (ESIA) report below. For the purpose of transparency in our adherence to World Bank standards of environmental and social compliance during the implementation and operational phases of the TSEL project, we will update the below report whenever deemed necessary by our lenders. Click on the link below to view the most recent version of the ESIA report of TSEL.
ESIA Report – TSEL – Version 1
