The two countries will sign a memorandum of understanding this week to build power generation capacity in northern Bangladesh and build a 50 megawatt wind power facility in the southern part of the port of Payra.China will provide about $500 million in funding, and the country where the project is located will be responsible for vacating the land.

The Chinese government will provide funding for 500 megawatts of renewable energy generation capacity in Bangladesh, a member of the Belt and Road Initiative, with solar energy accounting for 450 megawatts.

The two countries will sign a memorandum of understanding this week to form a joint venture to develop solar energy in the wind power districts near the Pabna, Sirajganj and Gaibandha areas of northern Bangladesh and the southern port of Payra.

Bangladesh Northwest Power Generation Co., Ltd. and China National Machinery Import & Export (Group) Co., Ltd. will jointly establish Bangladesh-China Renewable Energy (Private) Co., Ltd. to develop these projects.Among them, Bangladesh will provide land, while China will provide about $500 million in investment.