Economy
Beximco Urges Govt to Shield Solar Plant from Mob Attacks
Beximco Group has urgently appealed to Chief Adviser Muhammad Yunus to safeguard Teesta Solar Limited—the country’s largest solar power facility—from potential mob attacks. Teesta Solar, a subsidiary of the business conglomerate owned by Salman F Rahman, faces heightened risks amidst growing tensions.
In a letter issued by Osman Kaiser Chowdhury, Beximco’s Director of Group Finance and Corporate Affairs, the company stressed that any damage to the 200MW solar park could jeopardize its ability to repay loans obtained via Sukuk bonds. Chowdhury urged the Chief Adviser’s Office and law enforcement agencies to bolster security to prevent possible destruction.
Salman F Rahman, the business tycoon who previously served as Sheikh Hasina’s adviser on private industry and investment, has been under arrest since last month, following multiple remands linked to his alleged involvement in the deaths during the student-led uprising that ousted Hasina’s government on 5 August.
The letter detailed how a mob had already attempted to attack the solar plant on 7 September in Latshal, Sundorganj, Gaibandha. Chowdhury warned of further planned attacks, citing growing unrest among local residents who have accused Beximco of land seizures and other irregularities associated with the project.
The letter highlighted that the unrest could severely disrupt the plant’s operations, potentially leading to a complete shutdown. Such an event could hinder the company’s ability to supply electricity to the Bangladesh Power Development Board (BPDB) and compromise its financial commitments to Sukuk bondholders. Beximco warned that any significant damage could also result in job losses and breach of contractual obligations.
Recent protests by local residents, including a long march and a human chain, have intensified tensions in the area. Protesters claim Beximco forcibly took land from farmers at gunpoint under the guise of developing the solar power project. They also allege widespread corruption during the plant’s construction, which has negatively impacted the Teesta River.
Teesta Solar, operational since December 2022, contributes 200 MW of power daily to the national grid under a 20-year contract with BPDB. The project, covering 650 acres of land and costing Tk3,000 crore, remains a vital part of Beximco’s green energy investments, with Tk1,800 crore raised through green Sukuk bonds for its development.
Despite the plant’s importance to the national grid and the financial markets, Beximco has voiced concerns over the escalating situation, calling for immediate intervention to avert further crises.
Repeated attempts to contact Osman Kaiser Chowdhury for further comment went unanswered.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
