DHAKA, Bangladesh, Oct. 6, 2022 /PRNewswire/ -- Envision Energy, a global leading green tech company, announced the signing of a Power Purchase Agreement (PPA) on September 4th, 2022 with Bangladesh's state-owned utility, Bangladesh Power Development Board (BPDB).
According to the agreement, Envision Energy will build a 55MW wind farm at Mongla in Bagerhat, and BPDB has committed to purchase all the electricity generated from this plant at a levelized tariff of US$ 13.20 Cents, equivalent to Tk 10.56 per kilowatt hour over the period of 20 years.
Mongla Wind Farm will be equipped with Envision's 171-4.5 MW turbines and is expected to complete by 2024. The energy generated from the wind farm will be used in the Mongla region and will help reduce the equivalent of 110,000 tones of CO2, annually.
Mongla Wind Farm is Bangladesh's second major wind project, after its first 60MW Cox's Bazar project, which is also equipped with Envision's wind turbines.
"We are excited to be working with Envision, to generate clean energy for the grid and to significantly contribute towards Bangladesh's renewable energy goal." Mr. Mahbubur Rahman, Chairman from BPDB said.
George Wang, VP and CTO of Envision Energy said, "Our partnership with BPDB further establishes Envision's footprint and demonstrates our commitment to the country. The PPA sets another major milestone in the South Asia region for Envision, and we are confident the project will continue showcase our technology and capability to the market."
Bangladesh has set an ambitious goal to generate more than 4.1 GW electricity from renewable energy sources by 2030 as the county looks to cut greenhouse gas emissions significantly.
About Envision Group
Envision Group is a world-leading green technology company and net zero technology partner. With the mission of "solving the challenges for the sustainable future of humankind". Envision designs, sells, and operates smart wind turbines and smart storage system through Envision Energy; AIoT-powered batteries through Envision AESC; and the world's largest AIoT operating system through Envision Digital. It also owns Envision Racing Formula E team. Envision continues to promote wind and solar power as the "new coal", batteries and hydrogen fuel as the "new oil", the AIoT network as the "new grid", the net-zero industrial parks to the "new infrastructure", and to promote the construction and cultivation of green "new industry".
Envision Group was ranked among the Top 10 of the 2019 'World's 50 Smartest Companies' by the MIT Technology Review. In October 2021, Envision was ranked second in the world on the Fortune "Change the World" list. Envision Group joined the global 'RE100' initiative and became the first company in mainland China committed to 100% renewable electricity by 2025.On April 22, 2021, Envision Group announced it will achieve carbon neutral in operations by 2022 and achieve carbon neutral throughout its value chain by 2028.
For more information, please visit www.envision-group.com
Contact: Yang Stratton
SOURCE Envision Energy