On September 20, Yongfu and HDFCSIN POWER LIMITED, a subsidiary of Singaporean listed company SHS, signed EPC Contract for 50MWac PV project in Bangladesh, with amount of USD 63.7438 million.
Located in Mymensingh, Bangladesh, the project is the largest PV power project in Bangladesh, with a total capacity of 50MWac, consisting of a new 132kV substation and 132kV transmission line. Construction permits and approvals have obtained from the local government. The construction was commenced on September 25, 2019 and on line operation is expected on January 31, 2020.
With the growing global attention to environmental protection and the vigorous development of renewable energy, Yongfu has opened markets in Vietnam, the Philippines, Indonesia, etc from 2010 to 2019, following the Belt and Road Initiative.
The performance of the EPC contract for the 50MWac PV project in Mymensingh, Bangladesh will further expand Yongfu's market share in the countries along the Belt and Road Initiative route and open up a broader market in overseas renewable energy and related business sectors. In the coming years, Yongfu will continuously implement international strategy and provide more domestic and foreign customers with wide range of excellent technical services e.g. project development, EPC, operation and management, etc.