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October 29, 2020
IDCOL Wins Asian Power Awards 2020

IDCOL won the prestigious Asian Power Awards 2020 in the “Solar Power Project of the Year-Bangladesh” category for implementing Solar Irrigation Pump (SIP) Project in Bangladesh. Dubbed as the “Oscars of the Power Industry”, the award was conferred through an event held digitally on 27th October 2020 by the Asian Power magazine, a Singapore based quarterly publication for the power generation, transmission and distribution industry in the Asia Pacific region. Continuing on its 16th year, this award recognizes ground-breaking projects and trailblazing initiatives in the power sector in Asia. The SIP Project being implemented by IDCOL is the first green finance initiative for smallholder collectives and farmers in Bangladesh which is now benefiting more than 60,000 farmers.

 

Among other recipients of this prestigious award, Feni Lanka Power Limited, a fully owned subsidiary of Lakdhanavi Limited Sri Lanka was also awarded for its 114 MW HFO Fired Power Plant Project in Feni, Bangladesh. IDCOL was the Arranger of the transaction, the “Intercreditor Agent” and the Lead Financier of the project.

 

IDCOL extends gratitude to all development partners of its SIP project. The World Bank, KfW, GPOBA, USAID, BCCRF, DFID, UNDP, ADB and JICA have supported IDCOL through continuous guidance, concessional funding, technical assistance, capacity building and knowledge sharing to execute the projects successfully in Bangladesh. IDCOL also appreciate the support extended by Power Division and SREDA for successful implementation of the project.