WHEN Islam Sharif spends his last day in office as the chief executive of the Infrastructure Development Company Ltd (IDCOL) today, he leaves behind a company which has made important strides in implementing a successful solar energy project in the world.

"I always thought if I get a chance I will come back and work for the country. I always looked for opportunities,” he said.

But initially he had no idea of the project.

"Frankly speaking, I did not have any idea of how the project would fare. I am a banker by training. I had been involved with financial organisations for almost 30 years. This was a different product," he said.

He was a vice president of the banking giant Citibank in New York, managing one of the largest branches of the Citi in the country which flourished to become the sixth most successful branch of Citibank.

The scope to serve the country came when he found out that IDCOL was looking for a new CEO. "I was reluctant to apply when I found out that the company had been formed by the government. Like everybody, I had a perception that it is a government company." "I applied on the last day of submission. They called me after a week and an interview date was fixed. They were very accommodative."

He said it was a tough decision to join IDCOL. "My family has been living in New York since 1983. They were unhappy. Besides, the compensation package at IDCOL was one-third of what I was making with Citi."

"You might call me crazy, but I took up the job because I believed that I can pay back to my country albeit in a smaller way."

He joined the IDCOL in 2009, and it was installing 12,000 solar home systems (SHSs) every month at that time.

On Wednesday, he came to the IDCOL office in Panthapath for the last time and the company now installs 45,000 SHSs a month.

During his three-year tenure, the IDCOL installed at least one million

new SHSs.

"In the village, five people live in a house. It means that with the help of all partners, donors, the government and employees, I have been able to reach 50 lakh rural people living in off-grid areas and light up their lives.”

"Small children who used to read in the light of kerosene lamps now study under electric lights. I think this change gives them immense opportunity to improve their lives."

"We install 1,500 SHSs everyday, which means lighting up the lives of 7,500 people everyday," he told The Daily Star in an interview last week.

The company's revenue rose to $17.8 million in 2011 from $6.45 million in 2009. Net profit doubled to $6.4 million last year from $3.08 million two years ago.

IDCOL has installed 1.4 million SHSs till March this year. The programme has been burgeoning at 117 percent annually.

He also strengthened the staterun agency's manpower. "We had only one office three years ago. We have opened an additional six regional offices to strengthen inspection. Four more regional offices will soon be opened. The number of employees has also doubled to 120 in the meantime."

A solar home system, which supports four 7-watt bulbs, a black and white television and a mobile charger, costs $400 where IDCOL provides $25 as grant.

A household has to provide 15

percent of the cost as down payment. The rest $319 is given as a loan, which has to be repaid at $8.5 monthly instalments for three years at 12 percent interest.

"Everybody has participation in the process. As a result, the programme has become so successful," Sharif said.

"The household will only need to pay Tk 600 to Tk 700 every month for three years, whereas they will benefit from the system for the next 20 to 25 years."

The solar panel has a 20-year warranty with five years battery life, he said.

"The users are very happy about it. They see it as an asset. I think their economic activities have increased. We will soon conduct an impact study," he said.

The programme started in 2003, with support from Global Environment Facility (GEF) and the World Bank, with a target to finance 50,000 SHSs by 2008.

The target was achieved in August 2005, almost three years ahead of schedule at an expense of $2 million below the estimated cost.

As of March this year, 1.4 million SHSs have been installed, with electricity generation of up to 65 percent. They save 100,000 tonnes of fuel a year and create jobs for 70,000 people.

IDCOL now has a new target to finance 2.5 million SHSs by 2014.

Sharif, who left Bangladesh in 1981 to take up a position of an

English language teacher in Libya, which came right after his masters in English from Jahangirnagar University, said he enjoyed his work a lot.

"What I enjoyed the most about working in Bangladesh was everybody cooperated, the highest forum of the government to the lowest level of my office staff."

Although he is leaving IDCOL, he plans to pursue a career in the same field.

Sharif will set up a company named SK Johnson LLC, a financial and renewable energy advisory company, which will be based in New York, but will also work for the Bangladesh market.

He also plans to set up low carbon business. "I might set up LED light or higher quality charge controllers manufacturing unit or company that produces low carbon product."

He said it would take one year to take a decision on the business.

He said the solar home system market in Bangladesh has become a $200-million market. "I strongly believe that if it is run properly it can easily become a billion-dollar industry in the next five years as our programme is growing very fast."

"We have a high standard for quality. We make sure that we maintain the quality of all products we sell to our partners."

He said unfortunately, there is no authority in Bangladesh to ensure the quality of products being sold outside.

"In many cases it was proven that people were simply installing the system and later removing them just to make sure that somebody signs the paper, and officially justifies it, which is an entirely wrong thing to do."

"They are cheating the system just to get electricity connection by installing either low quality products or incorrectly labelled products. This kind of improper behaviour is destructive. It will not help the sector develop."

The country's realtors are against the government decision, which has made installation of solar home system mandatory that could produce 3 percent of the total electricity need of a building before getting connection for electricity."To my dismay, the real estate sector has resented the government requirement of 5 percent and worked to lower it to 3 percent. I urged them in various forums that instead of resenting it they should try to factor it in their business model."

"People are interested in buying green building. So, the realtors can incorporate it in their business model. But they seem more interested in not trying to install the system at all. ”

Like the solar system project, the IDCOL's biogas project also has not created much enthusiasm, admitted Sharif.

IDCOL has set up 25,000 plants so far, and is installing500 plants a month.

"It is a bit slow for us. Bangladesh is a rainy country. So in two to three months we do not get any production. I am looking at an alternative technology, which will help us offset the three-month production gap.'1

"We are refocusing our effort. We hope to do well."

He said there should not be any effort to set up biogas plants for free, because that would destroy the market like it had happened in the past. "Our model is inclusive and it is an ownership model."

He said the IDCOL's flagship solar home system programme is recognised as one of the best renewableenergyprogrammes in the world.

"If we remain focused on the quality and the government makes sure that the rooftop installation system as required by the Power Development Board to get new connection is properly monitored then it will not be impossible to reach the government's target on renewable energy."

Bangladesh plans to generate 5 percent of its total electricity requirement from renewable energy sources by 2015.

The IDCOL is adding 2.5MW of electricity per month. By 2014, it would be able to add 160MW.

He said the IDCOL is due to set up a solar testing lab. "We hope the government would mandate the testing of all panels coming into Bangladesh mak- ing sure they are at par with global standards."

He urged the government to create a lucrative incentive tariff policy to attract large businesses and private sector players to invest in the business.

Sharif said efforts to introduce renewable energy system and energy-saving initiatives should go hand in hand, as there are many ways one could save energy.

IDCOL's plan is to be a large infrastructure financier in the country. It has got approval from the board to finance $43 million for two power projects.

"We have also financed many other power projects. We are also considering financing a private port. Our infrastructure business also looks good. My only hope is that IDCOL can keep up the speed."

He thanked the World Bank, Asian Development Bank, German Financial Cooperation kfw, German Technical Cooperation GTZ, Islamic Development Bank (IDB) and Netherlands Development Organisation SNVfor supporting IDCOL.