India’s Amara Raja Group Secures $130 Million Solar Project in Bangladesh

India’s Amara Raja Group Secures $130 Million Solar Project in Bangladesh

In a remarkable achievement, Amara Raja Infra Pvt Ltd (ARIPL), a subsidiary of the esteemed Amara Raja Group, has secured a lucrative solar project worth $130 million in Bangladesh. This milestone serves as ARIPL’s debut in the international solar market, highlighting the company’s growth and expertise in renewable energy.

Project Details

The project entails the complete engineering, design, supply, installation, and commissioning of a 100 MW (AC) Solar PV Power Plant. Funding for the project is being provided by the Exim Bank of India. ARIPL successfully secured the project in collaboration with Premier Solar, a Hyderabad-based company. The contract was awarded by Rural Power Company Ltd (RPCL) in Bangladesh.

Spanning 326 acres in the Madarganj region of Jamalpur District, the project is expected to be completed within the next 18 months. Upon completion, ARIPL will provide comprehensive operation and maintenance services for two years, including warranty spares and consumables.

Company Profile

ARIPL is a part of the $1.75 billion Amara Raja Group, which is a diversified conglomerate with interests in automotive batteries, industrial batteries, electronics products, infrastructure development, food processing, and power generation. ARIPL has been involved in major renewable energy projects in India, such as setting up solar power plants for airports, railways, defense establishments, and corporations. With the current project of 100 MW (AC) in Bangladesh, the company now has a solar portfolio of 1 GW in the pipeline.

Market Scenario

Bangladesh is facing its worst electricity crisis since 2013, due to erratic weather and difficulty paying for fuel imports amid declining forex reserves and a weakened currency. The South Asian country plans to generate 4,100 MW of clean energy by 2030. Its renewable energy output in electricity generation is currently negligible.

The project by ARIPL and Premier Solar will contribute to Bangladesh’s goal of increasing its renewable energy share and reducing its dependence on fossil fuels. It will also strengthen the bilateral ties between India and Bangladesh in the energy sector and showcase the capabilities and trust placed in Indian companies.