Parasol Energy begins production of advanced solar modules in Bangladesh
Parasol Energy Ltd, a Dutch-Bangladesh joint venture, has begun producing advanced solar modules in the South Asian Republic in a bid to help people generate electricity by themselves for agricultural and industrial use, according to a report in the nation’s Financial Express newspaper.
Under the terms of the JV agreement, Parasol Energy will manufacture solar equipment with technical collaboration from Italy and Taiwan. Annual production will be about 16 MW, the newspaper said.
According to Alphons Hennekens, the Netherlands’ ambassador to Bangladesh, the partnership will bring “a revolution” to the Republic within a decade by electrifying it remotest and most rural regions.
And that’s only a start, as Moshiur Rahman, Chairman of Parasol Energy Ltd and Managing Director (MD) of the Paragon Group, told the newspaper the JV had already signed a memorandum of understanding to supply solar modules to Nepal.
He also predicted the partnership will move into the German, Italian and Spanish markets within the year.
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