Bangladesh : Paramount Solar Power Project
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 |
|
||||||||||
| 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 | ||||||||||
| Responsible ADB Department | Private Sector Operations Department | ||||||||||
| Responsible ADB Division | Infrastructure Finance Division 1 | ||||||||||
| Responsible ADB Officer | Oishi, Yohei | ||||||||||
| 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. |
| 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: 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.