Cyclect Energy secured a contract for a 50 MW solar power project in Chuadanga, Bangladesh, tendered by the Bangladesh Power Development Board (BPDB) on a build, own, and operate basis.
Under the contract structure, Cyclect Energy will develop, finance, construct, and operate the solar facility, with the BPDB purchasing the generated electricity under a 20-year power purchase agreement. The project is located in Chuadanga, a region with high solar irradiance suitable for utility-scale photovoltaic generation.
The project aligns with Bangladesh’s national renewable energy target of generating 40% of electricity from renewable sources by 2050. At the time of the contract award, renewables accounted for approximately 3% of Bangladesh’s total installed generation capacity, indicating the scale of infrastructure development ahead to meet the national target.
For Cyclect, the project represented a move from engineering and installation contracting into the project development and ownership model — taking on development risk and long-term operational responsibility in exchange for a contracted revenue stream across a 20-year horizon.