Dhaka, Bangladesh (BBN) - Parasol Energy Limited has formally started its journey of producing advanced solar modules in Bangladesh to help people generate electricity by themselves for agricultural and industrial use.
Parasol Energy, a Dutch-Bangladesh joint venture of 2.0 million euro, will manufacture solar energy equipment with technical collaboration from Italy and Taiwan. Bangladesh has a 64 per cent share of the total investment in the project with an annual production capacity of 16 megawatts (mw) of power.
"Solar energy will bring revolution in Bangladesh within a decade by electrifying the rural and remotest parts, helping people to generate required electricity by themselves and go for agricultural as well as industrial development," Ambassador of the Netherlands to Bangladesh Alphons Hennekens said while attending the opening ceremony of Parasol in the capital Dhaka on Monday.
He said solar power is a blessing for Bangladesh, especially for the rural people. Therefore, the nation should concentrate on its maximum utilization for sustainable development and economic growth.
"We’ve already signed a memorandum of understanding (MoU) for supply (of solar modules) to Nepal, and it is likely that we will do the same for the bigger European markets within a couple of months, which include Germany, Italy and Spain,” Chairman of Parasol Energy Ltd and Managing Director (MD) of the Paragon Group Moshiur Rahman said.
He also said the joint venture to produce solar modules is a timely one as the country people will now get high quality solar energy equipment produced locally which was previously imported mainly from China.
Managing Director of Parasol Maarten Verbruggen said the company is a unique one maintaining European standards while having capacity to compete with the Asian benchmark.
BBN/SSR/SI-14Feb12-7:55 am (BST)
