Bangladeshi electronics manufacturer Walton Hi-Tech Industries is expanding its solar-based power capacity to 50 megawatts (MW), backed by Tk1.44bn in financing from state-owned Infrastructure Development Company Limited (IDCOL).
The investment is intended to reduce the company’s dependence on grid electricity, lower operating costs and increase its use of renewable energy.
IDCOL has committed Tk1.44bn to the project, of which Tk440 million has already been disbursed, according to its acting managing director, SM Monirul Islam. He was speaking to energy journalists during a visit to Walton’s industrial complex in Chandra, Gazipur, on Monday.
Walton has so far installed 32MW of solar capacity across its manufacturing facilities, including panels on factory rooftops and walkways, alongside a 1.25MW floating solar plant on a factory pond.
The company plans to install a further 18MW by December 2026, bringing its total solar generation capacity to 50MW.
Walton currently consumes about 35MW of electricity, and the expansion is expected to help meet its daytime power requirements through renewable sources.
“We are working to meet our entire daytime load from green sources and expect to cover our full demand through renewable energy,” said Md Nazrul Islam Sarker, Walton’s additional managing director.
He added that the company was also working to reuse and transform waste materials into environmentally friendly products.
The site visit was organised by the Forum for Energy Reporters Bangladesh in collaboration with IDCOL.
Manufacturers turn to renewable energy
IDCOL has supported renewable energy projects in Bangladesh since 2002, when it launched its nationwide Solar Home System programme. The organisation is now focusing increasingly on industrial rooftop and floating solar installations to support the government’s renewable energy ambitions.
Bangladesh is seeking to diversify its energy mix, improve industrial efficiency and reduce carbon emissions as manufacturers face rising electricity costs. Recent government measures to lower import duties and provide incentives for solar equipment are also intended to encourage investment in renewable power.
For Walton, the expansion is expected to reduce electricity bills and dependence on the national grid. Greater use of solar energy could also help the company meet environmental standards that are becoming increasingly important for export-oriented manufacturers.
One of Bangladesh’s largest industrial solar projects
Once completed, the 50MW installation is expected to rank among the largest captive renewable energy projects developed by a single industrial group in Bangladesh, according to officials.
The project highlights the potential for manufacturers to generate electricity using factory rooftops, walkways and other available industrial spaces, helping to ease pressure on conventional power supplies while improving environmental performance.