July 5 (Renewables Now) - The Asian Development Bank (ADB) announced today it will provide USD 45.44 million (EUR 38.81m) in financing to Bangladesh for the development of 19.3 MWp of off-grid solar photovoltaic (PV) water irrigation systems.
Through this funding, ADB estimates that at least 2,000 PV pumping systems will be installed, which can offset 17,261 tonnes of carbon dioxide (CO2) emissions annually.
In addition to the PV systems, the funding will also be used to carry out an awareness campaign including workshops on PV water pumping system installations and operations. Technical and skills training will be provided to support job and livelihood opportunities with a focus on women, ADB said.
The financing package is comprised of a USD-20-million loan as part of ADB's Power System Efficiency Improvement Project, an additional USD 22.44 million from the Scaling up Renewable Energy in Low Income Countries Program under the Strategic Climate Fund, and USD 3 million from the Clean Energy Fund for Output-based Aid.
(USD 1 = EUR 0.85)