IDCOL resumes financing for solar irrigation pumps to boost green farming

Infrastructure Development Company Limited (IDCOL) has resumed its financing support for solar irrigation pumps (SIPs) with a renewed strategy and structure.

The initiative reaffirms IDCOL's role in advancing Bangladesh’s clean energy transition in agriculture, said a press release. 

A signing ceremony in this regard was held on 14 October 2025 at IDCOL’s Multipurpose Conference Hall in Dhaka.

Under the new phase, IDCOL approved Tk 34.9 crore in financing for WAVE Foundation, supported by Germany’s KfW, for the installation of 56 SIPs, including 39 grid-integrated systems across Chuadanga, Jhenaidah, and Kushtia.

IDCOL Executive Director and CEO Alamgir Morshed said the initiative aligns with the company’s target of deploying 10,000 SIPs by 2030. The event was attended by Michael Sumser-Hellstern, Director of KfW’s Bangladesh office, along with senior officials from SREDA, the Power Division, and IDCOL.

IDCOL so far has financed 1,495 solar pumps, accounting for 42 per cent of the national market. These systems irrigate over 34,445 hectares during the paddy season and benefit more than 70,000 farmers by replacing about 17,000 diesel-powered pumps.

Officials said the program is expected to reduce carbon emissions, lower irrigation costs, and strengthen energy security in rural areas. IDCOL reaffirmed its commitment to expand renewable energy partnerships to accelerate Bangladesh’s green transformation.