Beximco Ltd yesterday announced that it was going to build 230-megawatt (MW) solar utility-scale power plants at Gaibandha at a cost of Tk 1,700 crore.

A utility-scale facility is one which supplies the electricity generated to the grid. Such facilities have a power purchase agreement with a utility for a fixed term.

However, the company’s share price on the Dhaka Stock Exchange (DSE) dropped 4.54 per cent to Tk 140 yesterday.

The stock price has doubled from Tk 69 in a span of the last six months.

Teesta Solar Limited and Korotoa Solar Limited, two subsidiaries of Beximco Power Company Limited, will deliver 200MW and 30MW respectively, according to a disclosure from the company.

“This will make Beximco the undisputed leader in utility-scale solar power production in Bangladesh,” it said.

The 230MW in alternating current (ac) will require the plants to produce 325MW in direct current (dc) and then conducting the conversion using inverters, explained Rafiqul Islam, an executive director of Beximco Group.

“As the project cost is now projected, so we gave the price sensitive information to the stock investors,” said Islam.

The contract to install solar modules has been awarded to LONGi Solar Technology Company Limited, one of the world’s leading manufacturer of high-efficiency mono-crystalline solar cells and modules.

The contract for engineering, procurement, construction, commissioning as well as operation and maintenance of the main plant has been provided to a consortium comprising Rays Power Infra Private Limited and Zetwerk Manufacturing Businesses Private Limited.

The switchyard and substation contract, including control solutions, has been awarded to ABB, one of the leading global technology companies.

The transmission line engineering, procurement and construction contract has been awarded to Confidence Infrastructure Limited.

The line will be 35.35 kilometres in length, running from Sundarganj, Gaibandha to a Rangpur grid substation.