ADB offers $121 million for 100 MW solar project in Pakistan
- Admin
- May 1, 2024
- 1 min read
The Asian Development Bank (ADB) will grant a $121 million loan to Paramount Textile PLC for setting up a 100 MW solar power plant in Pabna, Bangladesh. This project, undertaken by Paramount's unit Dynamic Sun Energy Private Ltd., represents the first private sector utility-scale solar facility in the country to receive financial backing from ADB. The financing includes contributions from ADB, ILX Fund I, and the Japan International Cooperation Agency. Suzanne Gaboury of ADB highlighted the significance of this project in supporting renewable energy in Bangladesh.
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