IDCOL resumes financing for solar irrigation pumps

FE Team | Published: October 16, 2025 22:24:09

Infrastructure Development Company Limited (IDCOL) has officially resumed its financing support for Solar Irrigation Pumps (SIPs) with a renewed strategy and structure, marking a significant step toward decarbonising Bangladesh's agricultural sector.
To commemorate this milestone, IDCOL hosted a signing ceremony at its Multipurpose Conference Hall in Dhaka on Tuesday, says a press statement.
The event celebrated IDCOL's partnership with WAVE Foundation, which received approval for Tk 349 million in financing, supported by KfW, Germany, to implement 56 SIPs, including 39 grid-integrated sites across Chuadanga, Jhenaidah, and Kushtia.
This initiative aligns with the government's mandate to reduce dependency on fossil fuels and promote sustainable agricultural practices.
Alamgir Morshed, Executive Director & CEO of IDCOL, delivered the welcome remarks, highlighting IDCOL's long-term commitment to deploying 10,000 SIPs by 2030.
Michael Sumser-Hellstern, Director of the KfW Office in Bangladesh, was present as a special guest. Other distinguished guests included Md. Muzibur Rahman, Director of SREDA; Tahmilur Rahman, Senior Assistant Secretary, Renewable Energy Wing, Power Division, Ministry of Power, Energy and Mineral Resources; Md. Tazmilur Rahman, Deputy Director, KfW Office in Bangladesh; and Mohammed Jabed Emran, Chief Risk Officer, IDCOL.
Representatives from various NGOs and private sector entities engaged in the solar irrigation industry also attended the event.
The event featured a presentation on SIPs, experience sharing by WAVE Foundation, and remarks from guests, followed by the formal signing ceremony.
S. M. Monirul Islam, Deputy CEO & CFO at IDCOL, concluded the event with a vote of thanks, reaffirming IDCOL's dedication to fostering inclusive, climate-resilient development.
With 1,495 SIPs already financed -- representing 42 per cent of the market share -- IDCOL continues to lead the transition toward clean energy in agriculture.
These solar-powered pumps are directly irrigating over 34,445 hectares of land during the paddy season, benefiting more than 70,000 farmers across the country.