AC Energy has revealed plans to invest in solar projects throughout Asia, including Bangladesh, by forming a joint venture with Germany’s ib vogt GmbH.
Manila-based AC Energy said it will also focus on solar development in Indonesia, Vietnam, Malaysia and Laos. It wants to go forward with late-stage projects with ib vogt and plans to invest $200 million in equity, in addition to debt funding. They plan to build 1GW capacity under their new partnership.
In Bangladesh, ib vogt is now working on a 50 MW solar project in Feni district, Bangladesh. The German developer is still trying to secure land for the PV array amid an ongoing dispute over land ownership, according to officials.
The government will buy electricity from the project at a rate of $0.1094/kWh over 20 years.
“ACEN has a strong history of partnering with best-in-class energy developers to build renewable energy projects across the Asia-Pacific region,” said ACEN Renewables International President and COO Patrice Clausse. “Ib vogt has a proven track record of developing solar projects across Europe, Asia, and North Africa, and we are very excited to partner with ib vogt.”
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