Genex Infrastructure to develop BUET solar power system

TV24 Desk: Genex Infrastructure Limited inks a deal with at Bangladesh University of Engineering and Technology (BUET). Under this agreement, Genex will deliver roof-top solar panel systems, as an alternative source of power, to 24 buildings out of the 100 structures of the top engineering institution in the country, thus generating a maximum of 3-megawatt power.

Additionally, Genex will extend financing to Energy Performance Contracting (EPC), a form of creative financing for capital improvement which allows funding for cost-effective energy upgrades, under BUET supervision. BUET will use the electricity and pay the bill at a pre-agreed tariff which will be less than the current DPDC tariff to Genex infrastructure under a power purchase agreement, for next 25 years.

Our Education Minister Dr. Dipu Moni MP said, she is happy that BUET took this initiative first as an educational institution and hoping that this will create example for other educational institutions. Pro Vice-Chancellor Professor Dr.Abdul Jabbar Khan of BUET & Genex Infrastructure Managing Director Mohammed Tanzidul Alam expressed gratitude to the government for introducing net metering guideline to flourish solar technology in Bangladesh. Mr. Tanzidul Alam shared, “The implementation of the guideline is only possible by integrating technology to fill the gap due to lack of necessary software in the electricity distribution companies. Government can support us further by minimizing the import tax, enabling us to usher in greater number of overseas investors for the renewable energy sector.”.

The signing ceremony took place in the presence of Education Minister, Dr. Dipu Moni MP, BUET Vice-Chancellor Professor Satya Prasad Majumder, Pro Vice-Chancellor Professor Dr.Abdul Jabbar Khan, Genex Infrastructure Managing Director Mohammed Tanzidul Alam, Executive Director Md. Enayetul Islam, Chief Operating Officer Tanvir Mosaddaque, Head of Operation Nurul Alom Sohail, Head of Business (International) Harun-or-Rashid, amongst other officials from both parties.



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