BRAC Bank and IDCOL finance USD 67 million syndicated loan to BCRECL for large-scale solar power plant

BRAC Bank PLC and Infrastructure Development Company Limited (IDCOL) have jointly financed a landmark renewable energy initiative,a 64.55 MW solar power plant, operated by Bangladesh China Renewable Energy Company Limited (BCRECL).

A ceremony was held on November 6, 2025at InterContinental Dhaka to celebrate the financial closure of the USD 67 million Syndicated Term Loan Facility for the project. BRAC Bank PLC and IDCOL contributed USD 22 million and USD 45 million respectively in debt financing, underscoring their commitment to driving Bangladesh’s clean energy transition, according to a media release. 

The large-scale solar plant, located in Pabna, has already commenced supplying clean electricity to the national grid, helping the country make a stride toward transition to renewable energy for sustainable growth.

Bangladesh China Renewable Energy Company Limited is a joint venture between North-West Power Generation Company Limited (NWPGCL) of the Government of Bangladesh and China National Machinery Import & Export Corporation (CMC). BCRECL operates a number of solar power plants in Bangladesh.

Dr. Ahsan H. Mansur, Governor of Bangladesh Bank, attended the ceremony as the chief guest.

Ms. Gayle Martin, PhD, Operations Manager, Bangladesh and Bhutan, The World Bank; Dr. Rüdiger Lotz, German Ambassador to Bangladesh; attended the ceremony as special guests. The event was chaired by Md. Shahriar Kader Siddiky, Secretary of the Economic Relations Division and Chairman, IDCOL. Mr. Alamgir Morshed, Executive Director and CEO, IDCOL; Mr. Tareq Refat Ullah Khan, Managing Director and CEO, BRAC Bank; and Mr. Qi Yue, Managing Director, BCRECL, along with senior officials from participating organizations were present.

Speaking at the event, Tareq Refat Ullah Khan, Managing Director and CEO of BRAC Bank, said, “Together with IDCOL, we have mobilised long-term financing for a project that delivers clean energy to the national grid, reduces carbon emissions, and supports Bangladesh’s renewable energy transformation. The commissioning of this solar plant stands as a testament to effective public-private collaboration in driving large-scale sustainable infrastructure. As a values-based institution, BRAC Bank remains committed to accelerating clean energy transition in Bangladesh.”

IDCOL’s Executive Director & CEO, Alamgir Morshed said, “At IDCOL, we are committed to driving Bangladesh’s clean energy transition through innovative financing. This 64.55 MW solar park, financed jointly with BRAC Bank PLC, is a key milestone in boosting the renewable energy sector and cutting carbon emissions. We thank BCRECL for leading the way toward a greener future.”