Dhaka, Bangladesh (BBN)– Rahimafrooz Renewable Energy Ltd. (RRE) has signed an MoU with Tata BP Solar recently to execute a five MW solar power plant based on supplier credit and firm power purchase agreement.

The MoU was signed at the sideline of DIREC 2010 renewable energy exhibition in New Delhi in the presence of Toufiq Elahi Chowdhury, Advisor to the Prime Minister, Bangladesh High Commissioner in New Delhi – Tariq Karim and Additional Secretary – Power Division Bangladesh Tapos Kumar Roy.

Managing Director of Rahimafrooz Renewable Energy – Munawar Misbah Moin and Managing Director of TATA BP Solar – K. Subramania signed the MoU on behalf of the respective companies. The five MW Solar Power Plant will be built on 20 acres of land with an investment of US$ 25 million.

This is also a continuity of Rahimafrooz Solar’s leadership position in solar energy sector. Execution of this MoU will be a significant milestone in therenewable energy sector in Bangladesh.

BBN/SSR/SI-31Oct10-10:14 am (BST)