Infrastructure Development Company Ltd (IDCOL) received the Highest Taxpayer Award from the National Board of Revenue (NBR).

IDCOL has been awarded first position under Non-Bank Financial Institution category for the Tax Year 2021-2022. NBR also presented Tax Cards in favour of Sharifa Khan, chairman, IDCOL and Alamgir Morshed, executive director and CEO, IDCOL, reads a press release.

Finance Minister AHM Mustafa Kamal, FCA, MP, was present as the chief guest of the award-giving ceremony.

Mr. Abu Hena Md. Rahmatul Muneem, senior secretary, Internal Resource Division and chairman, NBR and Fatima Yasmin, senior secretary, Finance Division of Ministry of Finance handed over the Award and the Tax Cards to Alamgir Morshed, executive director and CEO, IDCOL and SM Monirul Islam, deputy CEO and CFO, IDCOL during the event. 

Infrastructure Development Company Ltd. (IDCOL) received Highest Taxpayer Award from National Board of Revenue (NBR). IDCOL has been awarded 1st Position under Non-Bank Financial Institution category for the Tax Year 2021-2022. NBR also presented Tax Cards in favor of Ms. Sharifa Khan, Chairman, IDCOL & Mr. Alamgir Morshed, Executive Director & CEO, IDCOL.

Mr. A H M Mustafa Kamal, FCA, MP, Honorable Minister, Ministry of Finance was present as the Chief Guest of the award giving ceremony. Mr. Abu Hena Md. Rahmatul Muneem, Senior Secretary, Internal Resource Division & Chairman, NBR and Ms. Fatima Yasmin, Senior Secretary, Finance Division of Ministry of Finance handed over the Award and the Tax Cards to Mr. Alamgir Morshed, Executive Director & CEO, IDCOL and Mr. S. M. Monirul Islam, Deputy CEO & CFO, IDCOL during the event.

ইনফ্রাস্ট্রাকচার ডেভেলপমেন্ট কোম্পানি লিমিটেড (আইডিসিওএল) জাতীয় রাজস্ব বোর্ড (এনবিআর) থেকে সর্বোচ্চ করদাতা পুরস্কার পেয়েছে। গতকাল আইডিসিওএলের চেয়ারম্যান মিসেস শরিফা খান এবং নির্বাহী পরিচালক ও সিইও আলমগীর মোর্শেদের হাতে সর্বোচ্চ করদাতার সম্মাননা ও ট্যাক্স কার্ড হস্তান্তর করেন জাতীয় রাজস্ব বোর্ডের চেয়ারম্যান আবু হেনা মো. রহমাতুল মুনিম।

Infrastructure Development Company Limited (IDCOL) received 22nd ICAB National Award for Best Presented Annual Report, reads a press release. 

IDCOL was awarded the First Position under Public Sector category. The competition was based on independent evaluation of the Review Committee for Published Accounts & Reports (RCPAR) of Council - ICAB and due recommendation of the Jury Board.

Tipu Munshi, MP, Hon'ble Minister, Ministry of Commerce, Government of the People's Republic of Bangladesh, was present as the Chief Guest of the award giving ceremony and handed over the trophy to Alamgir Morshed, Executive Director & CEO, IDCOL and S M Monirul Islam, Deputy CEO & CFO, IDCOL.

Infrastructure Development Company Limited (IDCOL) received 22nd ICAB National Award for Best Presented Annual Report. IDCOL was awarded the First Position under Public Sector category. The competition was based on independent evaluation of the Review Committee for Published Accounts & Reports (RCPAR) of Council - ICAB and due recommendation of the Jury Board.

Tipu Munshi, MP, Minister, Ministry of Commerce, Government of the People’s Republic of Bangladesh, was present as the Chief Guest of the award giving ceremony and handed over the trophy to Alamgir Morshed, Executive Director and CEO, IDCOL and S. M. Monirul Islam, Deputy CEO & CFO, IDCOL.

Desk Report: Infrastructure Development Company Limited (IDCOL) received 22nd ICAB National Award for Best Presented Annual Report. IDCOL was awarded the First Position under Public Sector category. The competition was based on independent evaluation of the Review Committee for Published Accounts & Reports (RCPAR) of Council – ICAB and due recommendation of the Jury Board.

Mr. Tipu Munshi, MP, Hon’ble Minister, Ministry of Commerce, Government of the People’s Republic of Bangladesh, was present as the Chief Guest of the award giving ceremony and handed over the trophy to Mr. Alamgir Morshed, Executive Director & CEO, IDCOL and Mr. S. M. Monirul Islam, Deputy CEO & CFO, IDCOL.

Infrastructure Development Company Limited (IDCOL) received 22^nd ICAB National Award for Best Presented Annual Report. IDCOL was awarded the First Position under Public Sector category. The competition was based on independent evaluation of the Review Committee for Published Accounts & Reports (RCPAR) of Council - ICAB and due recommendation of the Jury Board.

Mr. Tipu Munshi, MP, Hon’ble Minister, Ministry of Commerce, Government of the People’s Republic of Bangladesh, was present as the Chief Guest of the award giving ceremony and handed over the trophy to Mr. Alamgir Morshed, Executive Director & CEO, IDCOL and Mr. S. M. Monirul Islam, Deputy CEO & CFO, IDCOL.

IDCOL, as the Fund Manager for Off-Grid Market Development Fund (OGMDF) in Malawi, organized a virtual information dissemination session on the REOI for shortlisting off-grid solar companies on 28 November 2022. The meeting was attended by senior officials from the Ministry of Energy, Government of Malawi, the World Bank and representatives of off-grid solar companies. IDCOL delivered the keynote presentation and explained the purpose of the REOI, eligibility criteria and application processes to more than 50 participants.

Notably, IDCOL was earlier engaged by the Ministry of Energy, Malawi to operationalize the OGMDF. The Fund will address the challenges of scaling up the off-grid market in Malawi by catalyzing private-sector investment.    

The session has generated interest among the regional market players to contribute to #energyaccess in Malawi. The deadline for EOI submission is 06 December 2022.

The full application package can be found below:

https://idcol.org/notice/91f60ce43297eb40a4b258114155e685.pdf

জিপিএইচ রিনিওয়েবল এনার্জি লিমিটেডের সঙ্গে চুক্তি করেছে ইনফ্রাস্ট্রাকচার ডেভেলপমেন্ট কোম্পানি লিমিটেড (ইডকল)। গতকাল চুক্তিতে নিজ নিজ প্রতিষ্ঠানের পক্ষে সই করেন ইডকলের নির্বাহী পরিচালক ও সিইও আলমগীর মোর্শেদ এবং জিপিএইচ গ্রুপের চেয়ারম্যান মো. জাহাঙ্গীর আলম। চুক্তির আওতায় জিপিএইচ ইস্পাতের চট্টগ্রামের কারখানার ছাদে ৩ দশমিক ৯০ মেগাওয়াট পিক ক্ষমতার সোলার পিভি বসানো হবে। এছাড়া মুন্সীগঞ্জের ইকো সিরামিকস ইন্ডাস্ট্রিজ লিমিটেডের ছাদে বসবে ২ দশমিক ১৫ মেগাওয়াট পিকের সোলার প্যানেল।

Infrastructure Development Company Limited (IDCOL) signed a facility agreement with GPH Renewable Energy Ltd to finance their first rooftop solar project.

Under the project, GPH will install 3.90 MWp solar PV systems on the rooftop of GPH Ispat factory located at Chattogram and 2.15 MWp system on the rooftop of Eco Ceramics Industries Ltd factory at Munshiganj, says a press release.

Electricity produced from this project will not only reduce electricity bills of GPH but also reduce the diesel consumption during load shedding. In addition, the project owners can export unutilised electricity generated from the project to the national grid through Net Metering Guideline 2018.

Under this facility agreement, IDCOL will provide concessional loan up to 80 per cent of the project cost.

Infrastructure Development Company Limited (IDCOL) signed an agreement with GPH Renewable Energy Ltd to finance their first rooftop solar project. 

Under the project, GPH will install 3.90 MWp solar PV systems on the factory rooftops of GPH Ispat Ltd located at Chottogram and 2.15 MWp on the rooftop of Eco Ceramics Industries Ltd at Munshiganj, reads a press release.

Electricity produced from this project will not only reduce electricity bills of GPH but also reduce the diesel consumption during load shedding. In addition, the project owners can export unutilised electricity generated from the project to the national grid through Net Metering Guideline 2018. Under this facility agreement IDCOL will provide concessional loans up to 80% of the project cost.

Alamgir Morshed, Executive Director & CEO of IDCOL and Jahangir Alam, Chairman of GPH Group signed the agreement on behalf of their respective organisations.

On this occasion, Alamgir Morshed, Executive Director & CEO of IDCOL said "GPH is doing a fantastic job by contributing to the economy of Bangladesh. Its first rooftop solar project will encourage others to focus on green energy sources. To Promote rooftop solar projects, IDCOL is not only providing a concessionary loan facility but also providing technical assistance to borrowers."

Enamul Karim Pavel, Head of Renewable Energy of IDCOL, Mohammed Jabed Emran, Chief Risk Officer, IDCOL, Kamrul Islam, Executive Director, Finance & Business Development, GPH Group and other officials of both the organisations were present in the signing ceremony.

Dhaka, November 5, 2022 (PR) - Infrastructure Development Company Limited (IDCOL) signed facility agreement with GPH Renewable Energy Ltd. to finance their first rooftop solar project recently. Under the Project, GPH will install 3.90 MWp solar PV systems on the factory rooftops of GPH Ispat Ltd. located at Chottogram and 2.15 MWp on the rooftop of Eco Ceramics Industries Ltd. at Munshigonj.

Electricity produced from this project will not only reduce electricity bills of GPH but also reduce the diesel consumption during loadshedding. In addition, the project owners can export unutilized electricity generated from the project to national grid through Net Metering Guideline 2018. Under this facility agreement IDCOL will provide concessional loan up to 80% of the project cost.

Alamgir Morshed, Executive Director & CEO, IDCOL and Md. Jahangir Alam, Chairman of GPH Group signed the agreement on behalf of their respective organizations.

On this occasion Alamgir Morshed, Executive Director & CEO of IDCOL said “GPH is doing a fantastic job by contributing to the economy of Bangladesh. It’s first rooftop solar project will encourage others to focus on green energy sources. To Promote rooftop solar projects, IDCOL is not only providing concessionary loan facility but also providing technical assistance to borrowers.”

Md. Enamul Karim Pavel, Head of Renewable Energy, IDCOL, Mohammed Jabed Emran, Chief Risk Officer, IDCOL, Mr. Kamrul Islam, FCA, Executive Director, Finance & Business Development, GPH Group and other officials of both the organizations were present in the signing ceremony.

On 02 November 2022, Infrastructure Development Company Limited (IDCOL) signed facility agreement with GPH Renewable Energy Ltd. to finance their first rooftop solar project. Under the Project, GPH will install 3.90 MWp solar PV systems on the factory rooftops of GPH Ispat Ltd. located at Chottogram and 2.15 MWp on the rooftop of Eco Ceramics Industries Ltd. at Munshigonj.

Electricity produced from this project will not only reduce electricity bills of GPH but also reduce the diesel consumption during load shedding. In addition, the project owners can export unutilized electricity generated from the project to national grid through Net Metering Guideline 2018. Under this facility agreement IDCOL will provide concessional loan up to 80% of the project cost.

Mr. Alamgir Morshed, Executive Director & CEO, IDCOL and Mr. Md. Jahangir Alam, Chairman of GPH Group signed the agreement on behalf of their respective organizations.

On this occasion, Mr. Alamgir Morshed, Executive Director & CEO of IDCOL said “GPH is doing a fantastic job by contributing to the economy of Bangladesh. It’s first rooftop solar project will encourage others to focus on green energy sources. To promote rooftop solar projects, IDCOL is not only providing concessionary loan facility but also providing technical assistance to borrowers.”

Mr. Md. Enamul Karim Pavel, Head of Renewable Energy, IDCOL, Mr. Mohammed Jabed Emran, Chief Risk Officer, IDCOL, Mr. Kamrul Islam, FCA, Executive Director, Finance & Business Development, GPH Group and other officials of both the organizations were present in the signing ceremony.

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ইনফ্রাস্ট্রাকচার কোম্পানি লিমিটেডের (ইডকল) নবায়নযোগ্য জ্বালানির দুটি প্রকল্প পরিদর্শন করেছে জার্মান ফেডারেল মিনিস্ট্রি ফর ইকোনমিক কো-অপারেশন অ্যান্ড ডেভেলপমেন্টের (বিএমজেড) পার্লামেন্টারি স্টেট সেক্রেটারি ড. বারবেল কফলারের নেতৃত্বাধীন একটি প্রতিনিধি দল। ইডকলের পরিচালক এবং সিইও আলমগীর মোরশেদ, ডেপুটি সিইও এবং সিএফও এসএম মনিরুল ইসলাম প্রতিনিধি দলকে সঙ্গ দেন।

On 14^th October 2022, IDCOL organized a site visit for officials of the World Bank and Ministry of Energy, Government of Malawi at the Mpovu village which is located at the Nsanje district. The site visit was organized as part of an ongoing World Bank mission to finalize the design of the “Malawi Off-Grid Market Development Fund (OGMDF)”. The World Bank and Ministry officials visited off-grid households which have installed Solar Home Systems and attended courtyard sessions with the beneficiaries. Earlier, IDCOL organized meetings between the mission team with the off-grid solar companies and Renewable Energy Industry Association of Malawi to exchange information on the sector.

Notably, IDCOL has been engaged by the Ministry of Energy, Malawi to be the Fund Manager of the OGMDF. Financed by the World Bank, this facility targets to install 200,000 Solar Home Systems by June 2024 and catalyze private sector investment in the off-grid solar sector in Malawi.

The IDCOL-Industry Dialogue for advancing investments in Energy Efficiency and Environment-Friendly Technologies was held at Hotel InterContinental, Dhaka on Wednesday (28 September).

The event was attended by top-level representatives from the Textiles & RMG sectors, and key stakeholders of IDCOL, reads a press release.

Ministry of Power, Energy & Mineral Resources Secretary (Power Division) Md Habibur Rahman graced the event as the chief guest.

In his speech, he highlighted various initiatives that have been undertaken by the government to promote energy efficiency & conservation across different industries.

IDCOL Executive Director & CEO Alamgir Morshed in his opening remarks noted IDCOL's leading role in facilitating $500 milliin on low-cost financing provided by JICA, AfD & GCF for industries to implement energy efficiency & conservation measures.

The event ended with a panel discussion on "Prospects & Challenges to implement EE in Textile & RMG sectors of Bangladesh", which was attended by Power Division Secretary Md Habibur Rahman, Secretary, SREDA Chairman Munira Sultana, General Manager of Bangladesh Bank (Sustainable Finance Department) Khondkar Morshed Millat, JICA (Bangladesh Office) Senior Representative Taro Katsurai andBGMEA Vice President Miran Ali.

Nazmul Haque, chief investment officer of IDCOL, moderated the panel discussion.

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The 'IDCOL-Industry Dialogue for Advancing Investments in Energy Efficiency and Environment Friendly Technologies' was held at a hotel in the capital Dhaka on Wednesday. Md Habibur Rahman, secretary, Power Division, Ministry of Power, Energy and Mineral Resources, attended the event as the chief guest. Alamgir Morshed, executive director and CEO of IDCOL, was present on the occasion

ইনফ্রাস্ট্রাকচার ডেভেলপমেন্ট কম্পানি লিমিটেডের (ইডকল) গ্রিন টাওয়ারের ভিত্তিপ্রস্তর অনুষ্ঠান বৃহস্পতিবার (১৫ সেপ্টেম্বর) রাজধানীতে মুক্তিযুদ্ধ জাদুঘর মিলনায়তনে অনুষ্ঠিত হয়। অর্থমন্ত্রী আ হ ম মুস্তফা কামাল প্রধান অতিথি হিসেবে অনুষ্ঠানে উপস্থিত ছিলেন।

মন্ত্রী তার বক্তব্যে উল্লেখ করেন যে সরকারি ভবনগুলোর মধ্যে ইডকল গ্রিন টাওয়ার-ই প্রথম লিড প্লাটিনাম সার্টিফিকেশন পাওয়ার লক্ষ্য নিয়ে কাজ শুরু করতে যাচ্ছে।

অনুষ্ঠানে উপস্থিত থাকার জন্য সব স্টেকহোল্ডারকে ধন্যবাদ জানিয়েছেন অর্থনৈতিক সম্পর্ক বিভাগের সচিব ও ইডকলের চেয়ারম্যান শরীফা খান।

স্বাগত বক্তব্যে ইডকলের সিইও নাজমুল হক উল্লেখ করেন, জ্বালানি সাশ্রয়ী আবাসিক ও বাণিজ্যিক ভবন বাস্তবায়ন ও জনপ্রিয় করার লক্ষ্যে ইডকল গ্রিন টাওয়ারের জন্যে লিড প্লাটিনাম সার্টিফিকেশনের বিষয়ে অগ্রসর হচ্ছে।

এ উপলক্ষে ইডকল বাংলাদেশ স্থপতি ইন্সটিটিউটের সহায়তায় একটি উন্মুক্ত আর্কিটেকচারাল ডিজাইন প্রতিযোগিতার আয়োজন করে এবং জুরি বোর্ডের সহায়তায় ৬০টির অধিক প্রতিযোগী থেকে বিজয়ী নির্বাচিত করা হয়।

১৯৯৭ সালে প্রতিষ্ঠার পর থেকে এখন পর্যন্ত ইডকলের যাত্রার ওপর একটি ইনফোগ্রাফিক ভিডিও অনুষ্ঠানে পরিবেশন করা হয়। আরেকটি উপস্থাপনায় ইডকল গ্রিন টাওয়ারের স্থাপত্য নকশা, প্রযুক্তিগত বৈশিষ্ট্য, ভবনের সুবিধা এবং ইডকল গ্রিন টাওয়ারের পরিবেশগত ও অর্থনৈতিক সুবিধাগুলো তুলে ধরেন এর ভাইস প্রেসিডেন্ট মোহাম্মদ ওয়াহিদুর রহমান।

অনুষ্ঠানে ইডকলের বোর্ডের সদস্য, ইডকল অফিসিয়াল ও অন্যান্য স্টেকহোল্ডাররা উপস্থিত ছিলেন।

Speakers at a workshop said as uncertainty and price fluctuations of imported oil and gas keep increasing, a workable industrial rooftop solar system could be very useful for ensuring the country’s energy security. They also opined that Bangladesh would need uninterrupted power to continue along its development trajectory. 

Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI), in collaboration with Infrastructure Development Company Limited (IDCOL), organized the workshop titled “Installation of Industrial Rooftop Solar System” on Wednesday at MCCI Gulshan office. 

Md. Habibur Rahman, Secretary, Power Division, Ministry of Power, Energy & Mineral Resources and Director, IDCOL attended the event as the chief guest while Habibullah N. Karim, Vice-President, MCCI, attended as the special guest. 

The event was chaired by Sharifa Khan, Chairman, IDCOL and Secretary, Economic Relations Division (ERD).

In his welcome speech, Habibullah N. Karim mentioned Bangladesh would need uninterrupted power to continue along its development trajectory.  As uncertainty and price fluctuations of imported oil and gas keep increasing, a workable industrial rooftop solar system could be very useful for ensuring the country’s energy security.

With increased affordability over time, the industrial rooftop solar system could well boost Bangladesh’s ease of doing business, he said.

Addressing as chief guest Md. Habibur Rahman pointed out that industrial rooftop solar system could be an excellent defense against global warming when embraced all over the world, especially by the high carbon-emitting nations.

A presentation was made by IDCOL on financial and technical aspects of rooftop solar system.

Two rooftop solar project sponsors of IDCOL also shared their experience with the audience. Finally, members of the audience were divided into groups for discussion, followed by a question-answer session.

Industrial rooftop solar system produces electricity that could be cheaper than that of the national grid. It also reduces the carbon footprint of businesses. 

Surplus electricity produced can easily be sold to the national grid. With an installed and approved rooftop solar system of 29 Mega Watt peak (MWp) and 65 MWp respectively, IDCOL was targeting 300 MWp of rooftop industrial solar system by 2025.    

Online Desk :

Infrastructure Development Company Limited (IDCOL) recently organised a workshop on rooftop industrial solar system installation at M. Anis UdDowla Conference Hall, Police Plaza Concord, Dhaka. The workshop's objective is to promote the rooftop solar technology among the members of Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI), said a press release.

Cost of electricity generation from solar rooftop is cheaper than that of grid tariff. Thus, financing such kind of projects makes financial sense apart from achieving the country’s target of renewable energy-based power generation.

Bangladesh Government has expressed its vision to generate 4,200 MW of electricity from renewable energy source by 2030. Alamgir Morshed, Executive Director & CEOof IDCOL said “it is estimated that Bangladesh has a potential of generating more than 4,000 MW of electricity from rooftop solar energy. IDCOL has set a target to finance 300 MWp rooftop solar projects by 2025”.  

Md. Habibur Rahman, Secretary, Power Division, Ministry of Power, Energy & Mineral Resources and Director, IDCOL graced the occasion as Chief Guest. Habibullah N. Karim, Vice President, Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) attended the event as the Special Guest. Sharifa Khan, Secretary, Economic Relations Division (ERD) and Chairman, IDCOL graced the occasion as Chairat the event. 

Infrastructure Development Company Limited (IDCOL) has been conferred the prestigious “IJGlobal Awards 2021” in the “Public Sector Institution” category. The award was announced by IJGlobal, a part of the Euromoney Institutional Investor business, which provides access to data, news, insights and analysis on project finance and infrastructure. Held annually, the IJGlobal Awards recognize outstanding transactions and institutions from around the world of energy and infrastructure.

IDCOL was selected based on its innovation, resilience to the pandemic and tangible achievements in its initiatives in 2021. The judging panel highlighted IDCOL’s prominent role in supporting the Bangladesh’s agenda of achieving a low-carbon and climate-resilient economy, and in expanding PPP coverage to infrastructure sector with its financing and advisory services. IDCOL was specifically highlighted for its contributions towards the “Mujib Climate Prosperity Plan: Decade 2030”, a strategy paper named after the Father of the Nation Bangabandhu Sheikh Mujibur Rahman, which is expected to catalyze a paradigm shift in Bangladesh’s energy planning by boosting renewable energy share into the overall electricity generation mix. Another milestone achievement highlighted by the judging panel was IDCOL’s receipt of US$ 256 million from Green Climate Fund (GCF), the first private sector financing from the GCF in Bangladesh and to the date of approval, the largest funding proposal sanctioned for any Direct Access Entity of the GCF accredited globally.

The judging panel of the award for Asia-Pacific region included senior representatives from HSBC Asset Management, Deutsche Bank, Standard Chartered, Fitch Ratings, Allen & Overy etc. Other notable winners of this esteemed award are Citi, Asian Development Bank, Moody’s, EY, Deutsche Bank, SMBC, Linklaters and BDO.

His Excellency Md. Tauhedul Islam, ndc, High Commissioner of Bangladesh to Singapore has received the award on behalf of IDCOL in a ceremony held in Singapore on 20^th July 2022.

Infrastructure Development Company Limited (IDCOL) has been conferred the prestigious “IJGlobal Awards 2021” in the “Public Sector Institution” category. The award was announced by IJGlobal, a part of the Euromoney Institutional Investor business, which provides access to data, news, insights and analysis on project finance and infrastructure. Held annually, the IJGlobal Awards recognize outstanding transactions and institutions from around the world of energy and infrastructure.

IDCOL was selected based on its innovation, resilience to the pandemic and tangible achievements in its initiatives in 2021. The judging panel highlighted IDCOL’s prominent role in supporting the Bangladesh’s agenda of achieving a low-carbon and climate-resilient economy, and in expanding PPP coverage to infrastructure sector with its financing and advisory services. IDCOL was specifically highlighted for its contributions towards the “Mujib Climate Prosperity Plan: Decade 2030”, a strategy paper named after the Father of the Nation Bangabandhu Sheikh Mujibur Rahman, which is expected to catalyze a paradigm shift in Bangladesh’s energy planning by boosting renewable energy share into the overall electricity generation mix. Another milestone achievement highlighted by the judging panel was IDCOL’s receipt of US$ 256 million from Green Climate Fund (GCF), the first private sector financing from the GCF in Bangladesh and to the date of approval, the largest funding proposal sanctioned for any Direct Access Entity of the GCF accredited globally.

The judging panel of the award for Asia-Pacific region included senior representatives from HSBC Asset Management, Deutsche Bank, Standard Chartered, Fitch Ratings, Allen & Overy etc. Other notable winners of this esteemed award are Citi, Asian Development Bank, Moody’s, EY, Deutsche Bank, SMBC, Linklaters and BDO.

His Excellency Md. Tauhedul Islam, ndc, High Commissioner of Bangladesh to Singapore has received the award on behalf of IDCOL in a ceremony held in Singapore on 20^th July 2022.

IDCOL organized a stakeholder consultation workshop at the Capital House, Lilongwe, Malawi on 11^th July 2022 on the “Off-Grid Market Development Fund (OGMDF)” which aims to address the challenges of scaling up the country’s off-grid market. IDCOL has recently been engaged by the Ministry of Energy, Malawi to be the Fund Manager of the OGMDF. Financed by the World Bank, this facility targets to install 200,000 Solar Home Systems by June 2024 and catalyze private sector investment in the off-grid solar sector in Malawi.

The objective of the workshop was to engage with the local financial institutions to understand the off-grid solar market space in Malawi. Representatives from Standard Bank of Malawi, FDH Bank, MyBucks Banking Corporation etc. were present and provided their feedback on the Fund. IDCOL delivered the keynote presentation and moderated the discussion. Senior officials from the Ministry of Energy also participated in the workshop.

IDCOL has been awarded “The Global Economics Awards 2022” in the “Best Green Initiative (Renewable Energy)-Bangladesh” category for implementing Solar Irrigation Pump (SIP) Project in Bangladesh. IDCOL was selected because of successful introduction of a green finance initiative to the smallholder collectives and farmers through an innovative business model under the SIP Project.

The award was announced by The Global Economics Limited, a UK based financial publication and a business magazine that provides thoughtful insights into the financial sectors on commercial and investment banking, wealth management and advisory across the world. This award recognizes the best market players in banking, finance, insurance, technology, healthcare, real estate and energy.

Other notable winners from previous years include Standard Chartered Bangladesh, HSBC Holdings Plc UK, KPMG, Bank of Ireland etc.

IDCOL will provide consultancy services to the Ministry of Energy in Malawi for the Off-Grid Market Development Fund under The World Bank funded Malawi Electricity Access Project. The objective of the fund is to address the challenges of scaling up the off-grid market in Malawi and electrify 200,000 new households in remote rural areas. The project will also have a transformative impact by reaching households who will not be connected to the grid in the foreseeable future by creating an enabling environment for solar companies.

IDCOL, a non-bank financial institution under the Economic Relations Division, catalyzes private sector investment in infrastructure, renewable energy, energy efficiency and PPP projects in Bangladesh. Notably, IDCOL implemented the globally acclaimed Solar Home System (SHS) program under which more than 5 million SHSs were installed all over Bangladesh benefiting 12 percent of the country’s population. In recent years, IDCOL is expanding its cross-border advisory services under which IDCOL earlier supported the Rural Energy Agency in Tanzania for establishment of Renewable Energy Investment Facility (REIF) supported by the African Development Bank. In Bangladesh, IDCOL provided support in updating the Nationally Determined Contributions (NDCs) which was submitted to the UNFCCC last year. IDCOL also supported the Climate Vulnerable Forum for the formulation of the ‘Mujib Climate Prosperity Plan: Decade 2030’, a strategic climate plan named after the father of the nation, Bangabandhu Sheikh Mujibur Rahman.

Rooftop solar panels reduce a significant portion of the energy cost of industrial users and enhance their green credentials, says an expert. The photo was taken from the factory of Fakhruddin Textile Mills Limited in Sreepur upazila of Gazipur yesterday. Photo: Abu Bakar Siddique Akand

There is a growing interest among textile and garment entrepreneurs to install solar panels on their factory's rooftop in order to meet a portion of their demand for electricity while also reducing carbon emissions.

Until now, 41 firms have installed solar panels on their factory rooftops with a combined power generation capacity of 50 megawatts (MW). Of the firms, 70 per cent are engaged in making garments.

The Infrastructure Development Company Ltd (Idcol), a state-run non-bank financial institution, financed up to 80 per cent, or Tk 300 crore, of the installation cost for the panels in a bid to reduce the cost of power and develop green factories for a sustainable environment.

The rest was borne by the businesses themselves. This was disclosed at a workshop on the prospects and benefits of installing industrial rooftop solar systems, organised by Idcol at InterContinental Dhaka yesterday.

According to Idcol, it takes Tk 6 core to establish a rooftop solar power system with the capacity to generate 1MW of power.  The per unit power generation cost of rooftop solar power systems is only Tk 6.5, which is lower than gas or oil-based power plants.

"Solar rooftop systems can be a cost cutting measure to reduce industrial electricity costs," said Abdur Rouf Talukder, senior secretary of the finance division. The cost of electricity obtained from rooftop solar power systems is now about 20 per cent lower than the grid electricity tariff.

"It is also expected that solar photovoltaic (PV) based electricity will become cheaper than the power generated from natural gas in coming years," Talukder added.

According to Talukder, installing solar panels on the roofs of garment factories will not only reduce operational costs, but also assist the government in cutting the cost of imported fuel in the future.

It is worth mentioning that more than 1,000MW of rooftop solar systems can be installed on the unused roofs of garment and textile industries alone, Talukder said.

Fatima Yasmin, secretary of the Economic Relations Division (ERD), said the government has made solar power more economical through the net energy metering policy that allows industries to sell their excess solar energy production to the national grid.

Besides, the price of solar technology has also declined. Rooftop solar systems are successful in reducing a significant portion of the energy cost of industrial users, and enhance their green credentials, she added.

Abdul Baki, additional secretary of the ERD and director of Idcol, said the state-run non-bank has financed 26 mini solar grid projects in different remote river islands of the country.

These grids provide electricity to over 120,000 rural people for their income generating activities.

Till date, Idcol has financed more than 1,500 large solar irrigation pumps across the country, helping about 60,000 farmers enjoy irrigation services year-round in an environment-friendly manner.

The price of solar equipment in Bangladesh has fallen significantly over the past decade while the price of grid electricity increased by an average of 5 per cent annually at the same time.

Alamgir Morshed, executive director and chief executive officer (CEO) of Idcol, said everyone will gradually adopt green power due to its cost efficiency.

Idcol is providing both financial and technical support to promote solar rooftop plants, he added.

Among others, SM Moniurl Islam, deputy CEO of Idcol, and Syeda Masarrat Quader, regional public affairs manager of H&M Bangladesh, addressed the workshop.

H&M PROMOTING ROOFTOP SOLAR

Swedish multinational clothing brand H&M is promoting the use of rooftop solar technology among its enlisted garment makers in Bangladesh.

Idcol had organised the second workshop on the installation of industrial rooftop solar systems with participation of officials of local H&M garment suppliers.

The H&M officials discussed the installation of rooftop solar systems with their local suppliers.

Like the first workshop, this one was also focused on the net metering benefits for industries, and discussed how rooftop solar projects can help H&M's local supplier base reduce their carbon footprint and get more work orders from international buyers.

A total of 46 textiles and garment manufacturers from whom H&M sources apparel products took part in the workshop.

Mr. Alamgir Morshed joined Infrastructure Development Company Limited (IDCOL) as the new Executive Director and CEO on March 27, 2022. Prior to this appointment, Mr. Morshed was the MD & Head of Financial Institutions, Standard Chartered Bank Bangladesh.

As a seasoned banker, Mr. Morshed over a span of over 26 years held various senior positions. He was the Head of Global Markets, Standard Chartered Bank, covering Foreign Exchange, Asset Liability Management, Debt Capital Market and Corporate Finance. He also headed bank’s Commercial Banking and Global Banking divisions supporting the local corporate clients, global subsidiaries, public sector and institutional clientele.    

He has been at the forefront of introducing many pioneering financial risk management and financing solutions. He is accredited for introducing currency derivatives, interest rate swap and commodity hedging. He played an active role in the sovereign rating advisory for Bangladesh. He has been a key contributor to Bangladesh Foreign Exchange Dealers Association (BAFEDA) and member of Syllabus and Exam Review Committee, Institute of Bankers, Bangladesh (IBB). He frequently speaks in various forums.

Mr. Morshed holds an MBA from Institute of Business Administration, University of Dhaka.

IDCOL is a Government owned leading non-banking financial institution under the Economic Relations Division that catalyzes private sector investment in infrastructure, renewable energy, energy efficiency and PPP projects in Bangladesh.  

IDCOL to Support in Scaling Up Electric Vehicle Uptake in Bangladesh

16 February 2022, Dhaka - Infrastructure Development Company Limited (IDCOL) organized a workshop today on “Scaling Up Electric Vehicle Uptake in Bangladesh” at Hotel InterContinental, Dhaka. The workshop is organized as part of the UK Government funded “Road to a Green Bangladesh” project that is identifying scalable business models and a financing ecosystem for businesses with an aim for electric vehicle (EV) uptake in Bangladesh. 

Earlier, IDCOL in partnership with Ricardo-AEA Limited, UK received funding from the UK Government Department for Business, Energy and Industrial Strategy (BEIS) under its UK PACT (Partnering for Accelerated Climate Transitions) Green Recovery Challenge Fund (GRCF).

In this project experts from Ricardo, IDCOL, HIVOS-Energia and other Bangladeshi organizations such as LightCastle Partners and Policy Exchange has engaged with the individual transport providers / SMEs / cooperatives with an aim for EV uptake in Bangladesh.

Mr. Abdul Baki, Additional Secretary to Economic Relation Division and Executive Director & CEO (in-charge) of IDCOL said “IDCOL is opening dialogues and bringing in the mainstream EV market players to develop an ecosystem where with the right set of business models the sector will grow to be bankable guided by the policy framework. IDCOL also intends to catalyze private sector investment targeted towards the infrastructure development for wide scale EV adoption in Bangladesh”.

Globally transport sector has the highest reliance on fossil fuels than any other sector and accounts for 37% Carbon-di-oxide (CO₂) emissions from end users. In Bangladesh, it is the third largest sub-sector under the country's energy sector emissions. In the keynote presentation of IDCOL’s Chief Investment Officer Mr. Nazmul Haque, total running cost of Internal Combustion Engine (ICE) vehicles vs EVs were compared for electric two and three-wheelers under the current duty structure. It was analyzed that a targeted reduction of Total Tax Incidence and/or smart subsidy scheme might remove the EV viability gap and encourage EV purchase. Support may be provided to the private sector for setting up charging station network in major cities along with low-cost financing for various EV stakeholders.

Mr. Md. Nazrul Islam, Honorable Secretary to the Road Transport and Highways Division graced the occasion as Chief Guest. Mr. Md. Habibur Rahman, Honorable Secretary to the Power Division graced the occasion as Special Guest and Ms. Fatima Yasmin, Honorable Secretary to Economic Relation Division graced the occasion as Chair. Mr. John Warburton, Senior Environment Advisor from the British High Commission was also present at the event.

Ms. Fatima Yasmin, Secretary, Economic Relations Division and Chairman, IDCOL Board said, “Based on prior experience of developing similar financial instruments, IDCOL is perfectly positioned to develop a set of incentives for the purpose of building up the EV infrastructure. With support from the development partners, IDCOL can reduce the uncertainty of market uptake through development of flexible financing solutions for the private sector.”

Mr. Md. Habibur Rahman, Secretary, Power Division and Director, IDCOL Board said, “Power division is planning to establish EV charging station networks in major cities and highway routes where there will be a possibility of rapid deployment of EVs. When the market is ready, the power system of Bangladesh will also support with sufficient amount of EV charging networks.”

Mr. Md. Nazrul Islam, Secretary, Road Transport and Highways Division said, “Low cost and efficient transport network is a key determinant to drive growth and influence trade flows. The Government has set a clear vision to rally the collective national effort through Public-Private Partnership strategy by identifying key transport projects and allocating resources accordingly.”

Infrastructure Development Company Limited (IDCOL) has been adjudged as the recipient of ‘Certificate of Merit’ under Public Sector Entities category in SAFA Best Presented Annual Report Awards 2020. The Awards under different categories are conferred based on the evaluation administered by SAFA’s Committee for Improvement in Transparency, Accountability & Governance, of the published annual reports of entries from South Asian Countries.

The President of The Institute of Chartered Accountants of Bangladesh (ICAB) handed over the certificate to Mr. M. Maftun Ahmed, Company Secretory, IDCOL at the award giving ceremony held at the ICAB Auditorium, Dhaka on February 9, 2022.