A Technical monitoring Facility located in Monipuri Para, Dhaka, has been established by Infrastructure Development Company Limited (IDCOL) to further strengthen the quality assurance process of its different Renewable Energy initiatives. The facility is equipped to conduct essential performance tests of wide range of products which are used in different renewable energy initiatives such as solar panel, battery, loads, biogas and improved cook stoves, among others, in both field and laboratory set-ups.

The facility was inaugurated on 28 December 2017 where Chairman of IDCOL, Mr. Kazi Shofiqul Azam, Secretary, Economic Relations Division, and Ministry of Finance was present as the chief guest. In addition to CEO of IDCOL, Mr. Mahmood Malik and Dr. M. Rezwan Khan Professor department of EEE of United International University (UIU) and other IDCOL officials, representatives from several government organizations including UGC, EPRC, Atomic Energy Commission, BUET and International development organizations like KFW, GIZ and renowned renewable energy experts of the country were present in the event.

Infrastructure Development Company Limited (IDCOL), a government owned development financial institution involved in private sector energy and infrastructure financing in Bangladesh, has recently signed a term sheet with Confidence Group to raise USD 135 million term loan facility for establishment of three HFO fired IPP power plants in Bogra, Rangpur, and Chittagong having combined capacity of 280 MW.

Confidence Power Bogra Limited, Confidence Power Rangpur Limited, and Zodiac Power Chittagong Limited will establish the said power plants at an estimated cost of USD 200 million with brand new European engines from MAN and Rolls-Royce. All power projects are expected to go into commercial operation by 2019.

The program was graced by Mr. Mahmood Malik, Executive Director & CEO of IDCOL and Mr. Rezaul Karim, Chairman of Confidence Group. Imran Karim, Group Managing Director of Confidence Group, Mr. Salman Karim, Group CEO of Confidence Group, Mr. Nazmul Haque, Director (Investment & Advisory), and Mr. Khalid Islam, Managing Director of all the three companies were also present at the program along with relevant team members.

IDCOL, the largest energy and infrastructure financier of the country, has already financed power projects supplying more than 1,500 MW to the national grid. IDCOL looks forward to investing additional USD 1 billion by 2021 for development of priority infrastructure projects in Bangladesh. 

Infrastructure Development Company Limited (IDCOL) organized its “19^th Financial Modeling Training Program” during Nov 7-9, 2017 at IDCOL Head Office. 19 professionals from various banks, financial institutions and corporate houses attended the training program. Mr. S.M. Monirul Islam, Deputy CEO & CFO of IDCOL was present as chief guest in the certificate awarding ceremony. 

A Memorandum of Understanding (MoU) was signed between Infrastructure Development Company Limited (IDCOL) and City Bank Capital Resources Limited on 18 October 2017. The objective of the MoU is to develop long term partnership between IDCOL and CBCRL for mutual business development and offering of financial services by respective organizations. Mr. Mahmood Malik, Executive Director & CEO of IDCOL and Mr. Ershad Hossain, Managing Director & CEO, CBCRL signed the MoU on behalf of their respective organization.

Infrastructure Development Company Limited (IDCOL) has signed a contract with Ernst & Young LLP, India under ‘Energy Efficiency & Conservation Promotion Financing Project’. As per the contract, Ernst & Young will support IDCOL in identifying, appraising and financing eligible energy efficient projects in Bangladesh and also carry out capacity building activities for IDCOL emploees. The Project, funded by JICA, is expected to promote energy efficient industrial equipment in Bangladesh and reduce electricity load in national grid.

Mr. Mahmood Malik, Executive Director & CEO, IDCOL and Mr. Sanjoy K Gupta, Partner, Advisory - Government & Public Sector, Ernst & Young LLP, India signed the contract on behalf of their respective organizations on 01 August, 2017 at IDCOL Head Office, Dhaka. Other senior officials of IDCOL were also present.  

Midland Bank Limited (MDB) and Infrastructure Development Company Limited (IDCOL) jointly signed mandate for raising fund against syndicated term loan facility for an auto brick project namely Kushiyara Auto Bricks Limited (KABL).

Mr. Md. Ahsan-uz Zaman, Managing Director & CEO of MDB, Mr. Mahmood Malik, Executive Director & CEO of IDCOL and Mr. Md. Motiur Rahman, Managing Director of KABL signed the agreement on behalf of their respective organizations at a simple ceremony held at Bank’s Head Office, Dhaka on 25^th July 2017.

Mr. Masihul Huq Chowdhury, AMD, Mr. Khondoker Nayeemul Kabir, DMD, Mr. Md. Zahid Hossan, Head of Corporate Banking, Mr. Md. Shamsul Azam Khan, Head of Credit Risk Management of Midland Bank, Mr. Nazmul Haque, Director (Investment) of IDCOL were also present on the occasion along with other high officials of the organizations.

Infrastructure Development Company Limited (IDCOL) and Ricardo Energy & Environment (Ricardo) jointly organized a conference on “Unblocking Solar IPP Investments” on 26 July 2017 (Wednesday) at Pan Pacific Sonargaon Dhaka (107 Kazi Nazrul Islam Avenue, Dhaka 1215, Bangladesh).

The program was organized to bring in different stakeholders to identify possible challenges in developing and financing Solar IPP projects in Bangladesh as well as suggest suitable mitigation measures to overcome such challenges, based on global best practices. More than 70 participants from different bank, sponsors and government organizations participated in the captioned conference.

The IDCOL and Ricardo led conference discussed what constitutes a successful IPP structure and explored how to develop effective Power Purchase Agreements for solar parks. Speakers and panel experts also  offered  practical  guidance  on  selecting  the  most appropriate  site,  technology and  capital  structure  for  a  project.  Throughout the conference, attendees had the chance to network and discuss their specific solar power plans.

Speakers & panelists of the conference included, Mr. Ashish Kulkarni (Principal Consultant, Ricardo Energy & Environment), Mr. Siddique Zobair (Member, Energy Efficiency, Sustainable and Renewable Energy Development Authority), Mr. Arvind Mayaram (Former Finance Secretary, Government of India), Mr. Mohammad Hossain (Director General, Power Cell, Ministry of Power, Energy & Mineral Resources, Bangladesh), Mr. Mohammad Alauddin (Joint Secretary, Power Division, Ministry of Power, Energy & Mineral Resources, Bangladesh), Mr. Shahriar Ahmed Chowdhury (Director, Centre for Energy Research, United International University), Mr. Munawar Misbah Moin (Managing Director, Rahimafrooz Renewable Energy Limited), Mr. S.M. Habibur Rahman (CFO, Maisha Group of Companies), Mr. Mohammad Arbaaz Nayeem (Business Area Manager for Overseas Projects, Ricardo Energy & Environment), Mr. Nazmul Haque (Director (Investment) & Head of Advisory, IDCOL, Mr. Bidyut Kumar Saha (Senior Financial Sector Specialist, Asian Development Bank), Mr. Ershad Hossain (Managing Director & CEO, City Bank Capital Resources Limited) , Mr. Mesbah Uddin Ahmed (General Manager & Head of Corporate, IDLC Finance Limited), Mr. Mate Antosik (Principal Consultant, Ricardo Energy & Environment) and Mr. Md. Maroof ur Rahman Mazumder (Executive Director and Head of Capital Markets, Standard Chartered Bank).

“We are privileged to be joined by representatives from Bangladesh’s government and financial sector to discuss how to unlock investment for solar power,” said Mr Ashish Kulkarni, Ricardo Energy & Environment Principal Consultant. “I hope that the conference will provide valuable insight on how to structure a profitable solar power project which contributes positively to the government’s ambitious renewable energy plans,” said the Executive Director and CEO of IDCOL, Mr. Mahmood Malik in his closing remarks of the ceremony.

IDCOL is the largest government owned, local development financial institution in Bangladesh with primary focus on financing private sector energy and infrastructure projects. Since its inception in 1997, IDCOL has been playing a major role in financing medium and large-scale infrastructure, renewable energy and energy efficient projects in Bangladesh. In addition to its financing activities, IDCOL arranges various seminars, conference, workshops, and training programs and provides advisory services for capacity development of its stakeholders.

Ricardo’s energy teams provide power sector planning support to governments, public sector organizations and utility companies throughout the world. They offer independent and unbiased market, technical and environmental advice to support clients implement bankable and sustainable power systems. 

Infrastructure Development Company Ltd (IDCOL) is set to receive $526 million (Tk 4,252 crore) in loans from the Asian Development Bank - ADB to finance private sector infrastructure projects in the country.

IDCOL has targeted to invest an additional $1 billion by 2020 in the infrastructure sector to boost private sector participation and complement the government's vision to help Bangladesh become a middle income country by 2021.

Mentionable that to promote energy efficiency and conservation (EE&C) in Bangladesh, Japan Government decided to extend Government of Bangladesh (GoB) a loan amounting JPY 11,988 million (about USD 100 million) at 0.01% p.a. interest rate for a period of 40 years. JICA is working as the donor agency under the Project and the fund is channeling through IDCOL and BIFFL as Implementing Financial Institutions (IFIs). Both the IFIs and SREDA is performing as executing agencies for promoting EE&C. The on lending loan amount is USD 42 million allocated for IDCOL.

The loan will be extended to end users in two forms. Under Loan Type-A there will be two components (Component-I comprises of industry/ commercial sector and Component-II comprises of building sector) which will be offered a concessionary rate at 4-6% p.a. The main target area is financing of energy efficient equipment and processes in sectors like Textile and Ready Made Garments, Chemical Fertilizer, Paper & Pulp, Glass, Cement & Clinker Grinding, Iron & Steel, Food & Beverage, Telecommunication etc. Under Loan Type-B (Component-III-Home appliances) loan will be given to end users through Participating Distributors (PD) for purchase of energy efficient home appliances.  

In this consequence we have approved two projects under EE&CPF, one is for Meghna Cement Mills Limited for an amount of BDT 1,270 million and the other one is Pretty Eco Apparel Village Limited for an amount of BDT 844 million. Today, on 24 May 2017 a No objection Certificate (NOC) issuing ceremony has arranged at SREDA. Mr. Nasrul Hamid MP, Hon’ble State Minister for Ministry of Power, Energy & Mineral Resources was present as Chief Guest, Mr. Nahim Razzaq MP, Convener, Bangladesh Climate Parliament & Dr. Ahmad Kaikaus, Secretary, Power Division, MPEMR have also presented as Special Guest. Mr. Md. Helal Uddin, Chairman, SREDA, ED & CEO of IDCOL, Director (Investment) & Head of Advisory, Representatives from Meghna Cement Mills Limited Pretty Eco Apparel Village Limited have also presented at the program.

An MOU signing ceremony was held recently between Infrastructure Development Company Limited (IDCOL) and Dhaka Bank Ltd (DBL) at the Corporate Office of Dhaka Bank Ltd. Under this agreement Dhaka Bank will allow non funded credit facilities to the common clients against the letter of comfort issued by IDCOL. Syed Mahbubur Rahman, Managing Director & CEO of DBL and Mahmood Malik, Executive Director & CEO of IDCOL signed the agreement on behalf of respective organizations. Mr. Emranul Huq, AMD; Khan Shahadat Hossain, DMD; Md. Shakir Amin Chowdhury, DMD; Md. Abu Jafar, DMD; Mr. Mehedi Zaman Khan, VP & Manager DBL Kakrail Branch; Mohammad Ainul Haque, FVP, Corporate Banking Division, DBL; Mohammed Zahidul Haque, VP & Unit Head, SMI, IDCOL; Md. Mehedi Hasan, CFA, FRM, Assistant Manager, SMI, IDCOL with other officials of both the organizations were present on the occasion.

IDCOL to finance setting up solar panels on rooftops of various industries of Bangladesh. The average cost of power generation from solar energy is BDT 8-9 which is equivalent to the cost of electricity bought from the state-run utility service providers. 1 kilowatt of electricity can be produced from every 100 square feet of rooftop space. So, a factory that has 1 lakh square feet of space will be able to produce 1 megawatt of electricity. Solar energy will be cheaper if the possibility of future power tariff hike is taken into consideration. Industrial solar is getting much popularity among the local industrialist.

Bangladesh Energy and Power Research Council (BEPRC) on Tuesday signed a tripartite agreement with state-owned IDCOL and private firm Rahimafrooz to conduct a research to find out an alternative solar energy for solar-run irrigation pump operation during the off-season.

Deputy Secretary Saif Ahmed of BEPRC, IDCOL head of renewable energy Enamul Karim Pavel and Rahimafrooz's investigator Syed Ishtiaque signed the agreement on behalf of their respective organisations.

Officials said this has been the first research work undertaken by the newly created BEPRC in the country.

Addressing the contract signing ceremony at Biduyt Bhaban, BEPRC chairman Md Anwarul Islam Sikder said the government has been planning to set up solar-run irrigation pumps. But the irrigation pumps normally run for 3-4 months a year.

The solar plants remain idle and its electricity will have no use during the non-irrigation period.   

"We want to find a sustainable business model for the solar plants to be used in pump operation so that solar plants' electricity could be utilised in a better and viable commercial way," he told the function.

As per the deal, IDCOL and BEPRC will finance a pilot project to be set up in Dinajpur. Rahimafrooz's investigator Syed Ishtiaque Ahmed and Buet's Professor Dr Ziaur Rahman will conduct the study.

The researchers will set up a pilot project and collect data for their works in first 6-8 months and then they will analyse those in the remaining time.

IDCOL's CEO Mahmood Malik, who was present on the occasion, said if the researchers could find out a successful model, it would promptly help implement the government's plant to replace thousands of diesel-run pumps into solar-run ones.

IDCOL has been announced as Joint Winner for Best Presented Annual Reports 2015’ in the category of “Public Sector Entities” by the South Asian Federation of Accountants. The Trophy was handed over to Mr. S M Monirul Islam, Deputy CEO, IDCOL at a ceremony organized at Pan Pacific Sonargaon Hotel, Dhaka on 27th January 2017. Honorable Finance Minister Mr. Abul Maal Abdul Muhith MP was present in the occasion as Chief Guest and Mr. Fazle Kabir, Governor Bangladesh Bank was present in the occasion as Special Guest.