Signing of financing agreement between IDCOL & HYDRON Bangladesh Pvt. Ltd.
IDCOL signed financing agreement with HYDRON Bangladesh Pvt. Ltd. for setting up a 141 kWp PV based AC mini-grid project at 2 no. Gorgori Union, Bagha, Rajshahi on 24 December, 2013. Total cost of the project is BDT 6.54 crore of which IDCOL will provide 30% of the cost as soft loan and 50% as grant under IDCOL’s Renewable Energy Program. Under the Project, Hydron will provide electricity to 45 shops and 998 households.
December 20, 2013
Annual Review Meeting & Planning Workshop-2013 of IDCOL Biogas Program
IDCOL hosted the Annual Review and Planning Workshop on 15 December at Pan Pacific Sonargaon Hotel with a view to review the progress of 2013 and planning for 2014 by the active participation of 22 Partner Organization of IDCOL Biogas Program.
December 15, 2013
IDCOL signs agreement with 33 Partner Organizations to finance 1 million improved cook stoves (ICS) in Bangladesh by 2017
The signing ceremony between Infrastructure Development Company Limited (IDCOL) and its Partner Organizations (POs) was held at Ruposhi Bangla Hotel on 13th December, 2013. The Executive Director and CEO of IDCOL, Mr. Mahmood Malik was present at the signing ceremony along with other IDCOL officials, representatives from the World Bank and Head of POs.
IDCOL has recently undertaken a new initiative named “Improved Cook Stove (ICS) Program” and has set a target of financing 1 million in Bangladesh by 2017. The dissemination will be accomplished through its POs and with the cooperation of the World Bank.
Traditional stoves are usually less fuel efficient and they create indoor air pollution, causing the death of about 50,000 people, mostly women and children, in Bangladesh every year. The overall objective of the ICS program is to further develop and disseminate ICS in rural areas of Bangladesh with the ultimate goal to increase the energy efficiency of the fuel used for cooking while reducing exposure to indoor air pollution.
December 2, 2013
IDCOL official attends workshop on Small and Medium Scale Biogas titled held in Hanoi, Vietnam
The international workshop on Small and Medium Scale Biogas titled “The Evolution of Public-Private Partnerships to Accelerate the Development of Commercial Biogas Sector" was held in Hanoi, Vietnam from November 26 to November 28, 2013. The event was co-organized by the Vietnam Biogas Association (VBA), Ministry of Agriculture and Rural Development (MARD) through “Biogas Program for the Animal Husbandry Sector of Vietnam” and SNV Netherlands Development Organization, in cooperation with the ADB/E4ALL and EnDev. Mr. Asif Hasan, Relationship Officer (Biogas Program), was the representative of IDCOL at the workshop.
The workshop’s aim was to share and learn the experiences regarding the progress and challenges facing the domestic and medium-scale biogas programme in Asia; discuss and advance the current institutional set-up of the biogas sector; present, discuss and advance the development of market-based finance mechanisms, technical innovation, medium-scale biogas plants, and productive use of biogas.
December 2, 2013
Signing of a Term Loan Facility agreement amounting BDT 388 million between IDCOL and BCL
A Term Loan Facility amounting BDT 388 million was signed between Infrastructure Development Company Limited (IDCOL) and Baridhara Corporation Limited (BCL) on 28 November 2013 to set up an automatic brick manufacturing project at Pirujali, Mirzapur, Gazipur. The Project will use Tunnel Kiln Technology, the most advanced kiln technology, and will have a capacity to manufacture 200,000 bricks per day.
This is going to be the first project under IDCOL’s endeavour to promote energy efficient technology and reduce pollution in brick manufacturing sector. IDCOL has a plan to invest BDT 4 billion to ensure that conversion to environment friendly technology in the brick manufacturing sector is carried out efficiently.
The Executive Director & CEO of IDCOL Mr. Mahmood Malik and the Managing Director of BCL Mr. Md. Wakil Uddin signed the Facility Agreement on behalf of their respective organizations. Mr. Nazrul Islam Khan, Director, IDCOL & Secretary, Ministry of Information and Communication Technology and Mr. Abdul Haque, Director, IDCOL & Managing Director, Haq’s Bay Automobiles Ltd. was present in the Signing Ceremony as the distinguished guests.
November 22, 2013
Signing of financing agreement for Solar Irrigation Project of GRAM Ltd. (Global Resource Augmentation & Management Ltd.) at Badarganj, Rangpur.
On 19 November 2013, IDCOL signed financing agreement with GRAM Ltd. (Global Resource Augmentation and Management Ltd.) for a solar irrigation project at Rangpur. Under this project five solar irrigation pumps will be set up in Badarganj of Rangpur district. Total cost of the project is BDT 8.95 million. Under the agreement IDCOL will provide 40% of the project cost as soft loan and 40% as grant under IDCOL’s Renewable Energy Program. The Project, once completed, is expected to provide irrigation facilities to 139 farmers for cultivating around 563 bighas or 75 hectares of land.
November 20, 2013
Signing of Financing Agreement for 36 kWp Solar PV based Irrigation Pump Project with Global Resource Augmentation and Management ltd
IDCOL executed a Financing Agreement with Global Resource Augmentation and Management ltd on 19 November 2013 for financing 5 (five) solar irrigation pumps in Badargong, Rangpur to provide irrigation facilities to more than 562.73 bighas of land. IDCOL will extend 40% loan of total project cost including 40% grant support.
November 5, 2013
IDCOL and BTracCL sign 5.9 million USD Term Loan Facility agreement
A USD Term Loan Facility amounting 5.9 million was signed between Infrastructure Development Company Limited (IDCOL) and Bangla Trac Communications Limited (BTracCL) on 3 November 2013 for financing of the continuing operation of BTracCL. BTracCL has been operating since 2008 and is one of the first four IGW operators with a current capacity of handling 42,265 concurrent calls.
The Chief Executive Officer of IDCOL Mr. Mahmood Malik and the Managing Director of BTracCL Mr. Tarique E. Haque signed the Agreement on behalf of their respective organizations. Other senior officials of IDCOL and BTracCL also attended the ceremony.
November 1, 2013
IDCOL and BEDL sign 04 million USD Term Loan Facility agreement
A USD Term Loan Facility amounting 04 million was signed between Infrastructure Development Company Limited (IDCOL) and Barakatullah Electro Dynamics Limited (BEDL) on 31 October 2013 at IDCOL premises for financing the continuing operation of BEDL. IDCOL CEO Mr. Mahmood Malik and the Managing Director of BEDL Mr. Gulam Rabbani Chowdhury signed the Term Loan Facility Agreement on behalf of their organizations.
October 7, 2013
IDCOL provides advisory services to a delegation team from Sub-Saharan Africa member countries
IDCOL has arranged workshop for a thirteen-member delegation from Sub-Saharan Africa Member Countries (Mali, Senegal, Gambia, Mauritania and Niger) including three officials from the Islamic Development Bank (IDB) on the renewable energy activities of IDCOL in Bangladesh during 6-9 October 2013.Under the workshop, the delegates have met several stakeholders of IDCOL renewable energy program and conducted field and factory visits to solar home system, domestic biogas plants, solar irrigation project, and solar PV assembling plant.
October 5, 2013
Bangladesh signs a $10 million grant agreement with the World Bank
Bangladesh signed a $10 million grant agreement on 30 September 2013 with the World Bank to introduce solar irrigation pumps for farmers to replace conventional diesel pumps. The solar pumps will reduce farmers’ dependence on diesel supply, which is often erratic and costly particularly in remote rural areas. Acting Head Ms. Christine Kimes of the World Bank's local office and the government's Economic Relations Division Additional Secretary Mr. Arastoo Khan signed the agreement at the latter’s office. The Infrastructure Development Company Limited (IDCOL) will implement the project with private sponsors as part of the Rural Electrification and Renewable Energy Development (RERED) II Project.
October 2, 2013
IDCOL organizes training course on Project Finance
IDCOL organized a 3-day training program on “Project Finance” during 29 September~01 October 2013 in Monalisa Hall, Hotel La Vinci. Participants from various banks, financial institutions and corporate houses attended the training program.
IDCOL usually arranges four training courses on Project Finance and Financial Modeling per year. Till date, IDCOL has organized eighteen training courses on project finance and twelve courses on financial modeling. Together, IDCOL has trained about Eight Hundred professionals.
September 30, 2013
IDCOL organizes a seminar in collaboration with JICA
IDCOL organized a seminar on 'Investment Opportunities in Renewable Energy Sector' in collaboration with the Japan International Cooperation Agency (JICA) in Chittagong on 29 September 2013. Mr. Yoshihiko KATO, Senior Project Manager, Mitsubishi Research Limited, Mr. Mahmood Malik, Executive Director & CEO, Infrastructure Development Company Limited (IDCOL), Mr. Tapos Kumar Roy, Additional Secretary, Power Division, Ministry of Power, Energy and Mineral Resources and Mr. Kei Tayama, Senior Representative, Japan International Cooperation Agency (JICA) were present at the seminar.
September 28, 2013
Signing of Financing Agreement for 64.4 kWp Solar PV based Irrigation Pump Project with AVA Development Society
IDCOL executed a Financing Agreement with AVA Development Society on 26th September 2013 for financing 6 (six) solar irrigation pumps in Dinajpur (2 pumps), Rangpur, Thakurgaon, Panchagarh and Gaibandha to provide irrigation facilities to more than 527 bighas of land. IDCOL will extend 30% loan of total project cost including 40% grant support for the project.
September 26, 2013
Signing of Financing Agreement for 33 kWp Solar PV based Irrigation Pump Project with Aloshikha Rajihar Social Development Centre
IDCOL executed a Financing Agreement with Aloshikha Rajihar Social Development Centre on 24th September 2013 for financing 5 (five) solar irrigation pumps in Gournadi, Agailjhara, Muladi, Babugong, Uzirpur of Barisah to provide irrigation facilities to more than 1,360 bighas of land. IDCOL will extend 30% loan of total project cost including 40% grant support for the project.
September 15, 2013
IDCOL provides advisory services to a delegation team from Uganda
A 5-day workshop and a 12 day on-the job training on rural electrification was arranged by IDCOL for two teams of senior officials from Rural Electrification Agency, Uganda during 26 August-8 September, 2013. The first team comprising of the board members of REA was provided an overall idea of the renewable energy activities while the second team comprising of the senior officials of REA of different areas of interests have been attached with IDCOL, IDCOL’s partner organization and IDCOL’s regional office to have on-the-job training on technical, legal, management, monitoring, supervision, capacity building of IDCOL Renewable Energy program
Following their last program, a 5-day workshop and a 12 day on-the job training on rural electrification has been arranged by IDCOL for two teams of senior officials from Rural Electrification Agency, Uganda. The program started on 26 August 2013 and will continue till 6 September 2013. The first team comprising of the board members of REA was provided an overall idea of the renewable energy activities while the second team comprising of the senior officials of REA of different areas of interests have been attached with IDCOL, IDCOL’s partner organization and IDCOL’s regional office to have on-the-job training on technical, legal, management, monitoring, supervision, capacity building of IDCOL Renewable Energy program.
September 8, 2013
IDCOL participated in the launching of the Market Facilitation Platform for Improved Cookstoves (ICS)
IDCOL participated in the launching of the Market Facilitation Platform for Improved Cookstoves (ICS) jointly organized by Catalyzing Clean Energy in Bangladesh (CCEB), a project of the United States Agency for International Development (USAID) and Global Alliance for Clean Cookstoves (GACC).
U.S. Ambassador to Bangladesh, H.E. Dan W Mozena was present as the chief guest and Mr. Tapos Kumar Roy, Additional Secretary, Power Division, Ministry of Power, Energy and Mineral Resources was present as special guest at the program where Mission Director of USAID, Richard Green, country director SNV Netherlands Development Organization and GACC representative, Paul Stevens and senior program advisor USAID-CCEB, Sabrina Amjad were present among others.
Mr. Wahidur Rahman, Unit Head (Technical), Renewable Energy, Infrastructure Development Company Limited (IDCOL) presented his thoughts in the seminar program and a stall was set-up to promote the initiatives of IDCOL among others.
July 25, 2013
IDCOL and IDLC Sign MoU for Financing Solar Home System (SHS) Equipment Suppliers
A Memorandum of Understanding (MoU) was signed between Infrastructure Development Company Limited (IDCOL) and IDLC Finance Limited on 24 July 2013. Under this MoU, IDCOL will provide advisory services to IDLC for the latter to design and launch new financial products for the suppliers under IDCOL Solar Home System (SHS) Program.
IDCOL’s SHS Program is one of the largest and most successful renewable energy programs in the world with more than 2.3 million SHSs having been installed under the program. IDCOL has already covered 6% of the country’s entire population with SHS and also has plans to finance 4 million such systems by 2015. IDLC has pioneered both Leasing and Supplier Finance services in Bangladesh and is the largest multi-product Finance Co. in the country. IDLC will finance enterprises who supply equipments to the Participating Organizations (PO) of IDCOL’s Solar Home System (SHS) Program.
Mahmood Malik, Executive Director and CEO, IDCOL and Selim RF Hussain, CEO & Managing Director, IDLC Finance Limited and signed the MoU on behalf of their respective organization. Other senior officials of the organizations are also seen in the picture.
July 17, 2013
IDCOL wins 'Karlsruhe Sustainable Finance Award 2013'
IDCOL has been awarded 'Karlsruhe Sustainable Finance Award 2013' for outstanding performance in sustainable project financing for its Solar Home System Programme.Mr. Mahmood Malik, Executive Director and CEO, IDCOL has received the certificate from Lord Mayor Dr. Frank Mentrup of the city of Karlsruhe, Germany at the Global Sustainable Finance Conference 2013 organized by the Association of Development Financing Institutions in Asia & the Pacific and ETECH Germany in association with Economic Development Department of The City of Karlsruhe, Germany and endorsed by United Nations Environment Programme Finance Initiatives.
June 28, 2013
IDCOL provides advisory services to a delegation team from Guinea
IDCOL has provided knowledge support on rural electrification and renewable energy program implementation to 8 senior officials from Guinea. The delegates represens different ministries of Guinea including ministry of planning, economy and finance, energy and water etc. The delegates have been provided training on operational, financial and technical aspects of IDCOL’s renewable energy program. Under the workshop, the delegates have met several stakeholders of IDCOL renewable energy program and conducted field and factory visits to solar home system, domestic biogas plants, solar irrigation project, and solar PV assembling plant.
June 15, 2013
Financing agreement with Rahimafrooz Renewable Energy Limited for implementation of Solar Irrigation Pumps
IDCOL signed financing agreement with Rahimafrooz Renewable Energy Limited on 13 June 2013 for installing 17 solar irrigation pumps in different districts of the country. These pumps are expected to supply water to 467 farmers in three seasons.
May 17, 2013
IDCOL Green Energy Expo 2013
A three-day (from 12 May to 15 May 2013) exhibition titled “IDCOL Green Energy Expo - 2013” was held at the Winter Garden of Hotel Ruposhi Bangla, Dhaka showcasing latest renewable energy technologies and activities/ initiatives of key market players.Mr. Abul Maal Abdul Muhith, Hon’ble Finance Minister, the Government of the People’s Republic of Bangladesh inaugurated the fair. Dr. Tawfiq-e-Elahi Chowdhury BB, Adviser to the Hon’ble Prime Minister; Mr. Muhammad Enamul Huq, MP, Hon’ble State Minister, Ministry of Power, Energy and Mineral Resources; Mr. Md. Abul Kalam Azad, Secretary, Economic Relations Division and Chairman, IDCOL, and Mr. Mahmood Malik, CEO, IDCOL were present in the event.
May 15, 2013
IDCOL celebrates installation of 2 million Solar Home Systems and launched installation of 1 million Improved Cook Stoves Project under its Renewable Energy Programs
The Hon’ble Prime Minister Sheikh Hasina MP inaugurated an event marking the celebration of installation of 2 million Solar Home Systems (SHSs) and launching of 1 million Improved Cook Stoves (ICS) Project under IDCOL Renewable Energy Programs on 12 May 2013 at Hotel Ruposhi Bangla, Dhaka. Finance Minister Mr. Abul Maal Abdul Muhith, PM’s Adviser Dr. Tawfiq-E-Elahi Chowdhury, State Minister for Power, Energy & Mineral Resources Mr. Muhammad Enamul Huq and World Bank country director Mr. Johannes Zutt were present as special guests in the event. IDCOL Executive Director and CEO Mr. Mahmood Malik gave the welcome address at the function, chaired by IDCOL chairman and ERD secretary Mr. Abul Kalam Azad.
April 5, 2013
IDCOL official attends a workshop on Preparing for Scaled-up Climate Financing: New Business Opportunities for Green Growth at ADB headquarters in Manila, Philippines.
On April 2-4, 2013, the USAID Low Emissions Asian Development (LEAD) program, in cooperation with the Asian Development Bank (ADB) and the Climate and Development Knowledge Network (CDKN), convened a unique workshop in support of the Asia Low Emission Development Strategies (LEDS) Partnership that brought together government officials from twelve developing Asian countries with commercial bankers, fund managers, green project developers and others from the public and private sectors to learn about existing and emerging mechanisms to finance low-carbon, climate-resilient growth in Asia. On behalf of IDCOL Mr. Junaed Tazdik attended the program.
At ADB headquarters in Manila, Philippines, more than 100 participants discussed opportunities as well as barriers to funding green growth investments and climate change-related businesses, and agreed on the critical role of private sector investment to meet the funding needs of emerging Asian economies. Public and private sector representatives also identified priorities for technical assistance and capacity building—through the Asia LEDS Partnership—to assist countries to prepare "bankable" and inclusive low-carbon projects.
March 15, 2013
JICA signs a Japanese ODA loan agreement with Bangladesh
On March 10 2013, the Japan International Cooperation Agency (JICA) signed a Japanese ODA loan agreement with the Government of the People's Republic of Bangladesh at Dhaka to provide an ODA loan of up to a total of 95.683 billion yen for assistance for four projects. Among these four projects, under Renewable Energy Development Project (REDP), IDCOL will provide funding to non-governmental organizations, private enterprise and the like, which will sell, maintain and manage the renewable energy equipment.
January 6, 2013
Signing of MoU between IDCOL and BIFFL
A Memorandum of Understating (MoU) was signed between IDCOL and Bangladesh Infrastructure Finance Fund Limited (BIFFL) on 02 January 2013. IDCOL will provide investment advisory services to BIFFL and conduct financial, technical, legal, and environmental due diligences of infrastructure projects to be considered for financing by BIFFL. BIFFL may consider participating in syndicated financing arranged by IDCOL for eligible infrastructure projects, or infrastructure projects those are financed by IDCOL. IDCOL will inform BIFFL about the potential infrastructure projects for which financing are raised through a syndication of Banks and Financial Institutions.