Copenhagen Infrastructure Partners (CIP) and Copenhagen Offshore Partners (COP) have received approval from the Bangladesh government for their proposal to install a 500MW offshore wind farm in the country. The facility is expected to require an investment of US$1.3bn.
The foreign direct investment (FDI) was developed in July in partnership with Bangladesh's Summit Group.
The approval grants the consortium the permission to carry out feasibility studies and perform the initiative's first development phase.
Once complete, this will be Bangladesh's first utility-scale offshore wind power plant.
For more information on projects in Bangladesh, please visit EICDataStream.