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The initiative comes at a time when Bangladesh is struggling to expand renewable energy capacity despite repeated policy commitments, while dependence on imported fossil fuel continues to strain foreign exchange reserves and increase subsidy burdens.

Officials said the Sonagazi project would serve as a pilot model for utilising unused government land to attract private capital.

Beza Executive Chairman Ashik Chowdhury said procurement for the project could begin by August this year.

“Under the arrangement, the BPDB will act as the contracting authority and offtaker of the electricity generated from the plant,” he said.

The government approved new guidelines on April 7 for developing renewable energy projects on land owned by public agencies under the PPP model, according to officials. The project also received policy approval from the Advisory Committee on Economic Affairs in March last year.

The Asian Development Bank (ADB) will support feasibility studies, financial modelling, environmental impact assessments and tender assistance for selecting a private partner through international competitive bidding.