Bangladesh : Paramount Solar Power Project

Nonsovereign Project | 56344-001

The project consists of a 100 MW grid-connected solar photovoltaic power plant in Pabna, located about 245 kilometers west of Dhaka. The project site comprises 400 acres of land.

Project Details

  • Project Officer
    Oishi, Yohei
    Private Sector Operations Department
    Request for information
  • Approval Date
    24 November 2023
  • Country/Economy
    Bangladesh
  • Sector
    • Energy
Project Name
Paramount Solar Power Project
Project Number
56344-001
Borrower / Company
  • Dynamic Sun Energy Private Limited
  • Paramount Textile PLC
Country / Economy
  • Bangladesh
Location
Nation-wide
Type or Modality of Assistance
Approval Number Facility Fund Source Amount Status
4394 Loan Ordinary capital resources USD 50.00 million Approved
CF116 B-Loan / CFS Commercial Lenders USD 30.00 million Approved
Operational Priorities
  • OP1: Addressing remaining poverty and reducing inequalities
  • OP2: Accelerating progress in gender equality
  • OP3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability
Sector / Subsector
  • Energy / Renewable energy generation - solar

Gender
Effective gender mainstreaming
Project Sponsor(s)
  • Paramount Textile PLC
Description
The project consists of a 100 MW grid-connected solar photovoltaic power plant in Pabna, located about 245 kilometers west of Dhaka. The project site comprises 400 acres of land.
Objectives and Scope
Bangladesh's renewable energy target aims to increase its renewable energy share to 40% of total energy by 2041.The project will establish a bankable precedent that can help catalyze further private sector participation in Bangladesh's renewable energy sector.
Linkage to Country/Regional Strategy
The project is consistent with ADB's Strategy 2030, which includes (i) addressing remaining poverty and reducing inequalities, (ii) accelerating progress in gender equality and women's empowerment, and (iii) tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability as operational priorities. The project is also consistent with ADB's country partnership strategy for Bangladesh, 2021-2025, as the project will help foster a reliable energy supply to improve energy security and promote the use of renewable energy sources.

Safeguard Categories

Environment
B
Involuntary Resettlement
B
Indigenous Peoples
C

Summary of Environmental and Social Aspects

Environmental Aspects
An independent environmental and social compliance audit (ESCA) and an initial environmental and social examination (IESE) have been undertaken by an independent consultant. Due diligence findings suggest that environmental impacts are anticipated to be site-specific and mitigatable with implementation of site-specific environmental and social management plan as part of the IESE. A corrective action plan has been agreed with the Borrower to address gaps identified in the audit, and a site-specific environmental and social management plan will be developed to manage identified impacts. The borrower will submit annual safeguards and social monitoring report to ADB.
Involuntary Resettlement
The land for the solar photovoltaic plant was acquired through a willing seller-willing buyer transaction. While the negotiated settlement process for transmission line land and access rights acquisition was ongoing, the ESCA confirmed that the process was consistent with ADB's Safeguards Policy Statement requirements. However, the project developed a Resettlement Plan (RP) to document the entire transmission line land access process and manage the acquisition and compensation for any remaining land access requirements for the transmission line development.
Indigenous Peoples
Impacts on indigenous peoples are not envisaged as a result of the project. The project and its associated facilities are not located in an area inhabited, owned, used, or claimed by indigenous peoples.
Stakeholder Communication, Participation, and Consultation
Developing the IESE and RP involved extensive consultations with the project-affected people and relevant stakeholders. The project's environmental and social documents are disclosed to the local communities. Continuous stakeholder engagement activities, including grievance mechanisms, are required to be implemented by the project and will be monitored by ADB.

Contact

Responsible ADB Officer
Oishi, Yohei
Responsible ADB Division
Infrastructure Finance Division 1
Responsible ADB Department
Private Sector Operations Department

Timetable for assistance design, processing, and implementation

Concept Clearance
07 Mar 2023
Credit Committee Meeting
-
Approval
24 Nov 2023
Last PDS Update
24 Nov 2023

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Access to Information Policy (AIP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

Title Document Type Document Date
Paramount Solar Power Project: Report and Recommendation of the President Reports and Recommendations of the President Oct 2023
Paramount Solar Power Project: Gender Action Plan Gender Action Plans Oct 2023
Paramount Solar Power Project: Preliminary Poverty and Social Analysis Initial Poverty and Social Analysis Sep 2023

Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

Title Document Type Document Date
Paramount Solar Power Project: 100MW AC Solar Power Park Initial Environmental Examination Report Initial Environmental Examination Nov 2023
Paramount Solar Power Project: Environment and Social Compliance Audit Report Environment and Social Compliance Audit Reports Oct 2023
Paramount Solar Power Project: Resettlement Plan Resettlement Plans Oct 2023

Evaluation Documents See also: Independent Evaluation

None currently available.


Related Publications

None currently available.


The Access to Information Policy (AIP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.