PRAN-RFL and Walton Go Big on Solar Equipment Manufacturing Amid Energy Crisis

☀ Dhaka, Bangladesh — Two of Bangladesh’s largest conglomerates — PRAN-RFL Group and Walton Group — are going big on solar equipment manufacturing amid the ongoing energy crisis, aiming to reduce import dependency and build an end-to-end domestic solar power supply chain.

📊 Simultaneously, the two groups plan to invest in small, medium, and large-scale solar power projects nationwide under a capex model — supplying equipment while providing operation and maintenance services to public and private sector clients.

👥 PM Tarique Rahman Urged Investment

📊 According to officials from the Prime Minister’s Office and both conglomerates, the projects gathered momentum following a 1 August meeting with private-sector entrepreneurs, where Prime Minister Tarique Rahman urged businesses to invest heavily in renewable energy.

🏭 PRAN-RFL: $5 Million Investment in Two Inverter Plants

📊 Kamal Kamruzzaman, Marketing Director at PRAN-RFL Group, stated that work has commenced on a $1 million solar inverter manufacturing plant at Palash in Narsingdi.

💬 “The plant is expected to begin production within three to four months, with a capacity to manufacture up to 1,000 inverters monthly in the 1kW-5kW range alongside storage batteries,” Kamruzzaman said.

📊 He added that PRAN-RFL plans to establish a second inverter facility in Habiganj with an investment of approximately $4 million.

📊 PRAN-RFL solar investment to date:

• 💰 Tk 100 crore invested in solar energy so far
• ☀ 40MW generation capacity currently
• 📈 Target: 100MW by end of 2026
• 📈 Target: 100% solar power for PRAN-RFL by FY28 (250MW demand)

💬 “We have aligned our investments to meet 100% of PRAN-RFL Group’s electricity demand from solar power by FY28,” Kamruzzaman noted. Once local production begins, PRAN-RFL intends to expand its installation and maintenance services for third-party commercial and residential clients, as well as compete for government projects through public tenders.

🏭 Walton: Inverter + Lithium-Ion Battery Plants

📊 Walton has commenced setup of a solar inverter manufacturing plant at Chandra, Gazipur. It has also completed a lithium-ion battery plant, which is slated to begin commercial production within a month, according to Md Nazmul Islam, Executive Director and Head of Electrical and Renewable Energy at Walton Group.

📊 Walton currently imports ARC inverters from China as an original equipment manufacturer (OEM), branding them locally.

📊 In a written response, Walton confirmed that setting up local lithium-ion battery, solar inverter, and solar panel production facilities is designed to:

• 🏢 Build domestic resilience
• 🌿 Lower carbon emissions
• 👥 Generate industrial employment

📊 Bangladesh Solar Inverter Import Market

📊 Bangladesh currently has no local solar inverter production. Most inverters are imported from:

• 🇨🇳 China
• 🇯🇵 Japan
• 🇮🇳 India

💰 Annual imports worth around $15 million. According to the NBR, Bangladesh imported 429.4 tonnes of solar inverters between December and May.

🔌 How Solar Power Systems Work

📊 In a solar power system:

• ☀ Photovoltaic cells in solar panels convert sunlight into direct current (DC) electricity
• 🔌 Inverter converts DC into alternating current (AC) — powers household appliances and feeds surplus to national grid
• 🔋 Lithium-ion batteries store electricity for use when sunlight is unavailable

💰 Government Duty Concessions

📊 To encourage local manufacturing, the government has reduced duties on imported raw materials for inverters, batteries and solar panels to 1%. By contrast, commercial imports face much higher duties:

• 💰 Inverters: ~28% duty
• 💰 Solar panels: ~63% duty
• 💰 Batteries: ~29% duty

📊 This significant duty differential creates a strong competitive advantage for local manufacturers.

📈 Government Solar Targets

📊 The government has set targets for solar power generation:

• 📈 4,000MW by end of 2026
• 📈 10,000MW by 2030

📊 It has also announced a net-metering system under which solar power producers can sell surplus electricity to the national grid at Tk 10.50 per unit, including an additional profit incentive.

💰 End-to-End Service Model

📊 Walton and PRAN-RFL plan to offer end-to-end support to individuals and businesses interested in installing solar power systems:

• 💰 Customer finances investment
• 🏭 Companies install plants
• 🔧 Companies provide maintenance if contracted
• 📊 Customers can also self-maintain
• 🏛 Government project competition through public tenders

🌏 Strategic Context: Bangladesh Renewable Energy Push

📊 For Bangladesh’s renewable energy sector, the PRAN-RFL and Walton investments represent a significant milestone:

• 🏢 First domestic solar inverter production — ending import dependence
• 🔋 First lithium-ion battery plant — domestic storage capacity
• 💰 $5M+ investment by PRAN-RFL — in two inverter plants
• 💰 Walton inverter + battery plants — complete supply chain
• 📈 100% solar target by FY28 — for PRAN-RFL Group
• 📊 End-to-end service model — installation + maintenance

✅ For Bangladesh’s broader industrial diversification strategy, the entry of major conglomerates into solar equipment manufacturing signals that the renewable energy sector is maturing from an import-dependent niche to a domestically-capable industry. With government duty concessions, net-metering incentives, and ambitious solar targets, the PRAN-RFL and Walton investments could catalyse a broader wave of domestic renewable energy manufacturing — reducing import dependency, creating jobs, and supporting Bangladesh’s energy security goals.

🌏 For the export community — particularly RMG and textile manufacturers facing energy cost pressures — the domestic production of solar inverters and batteries could make rooftop solar more accessible and affordable. With PRAN-RFL targeting 100% solar power by FY28 and Walton building complete supply chain capability, Bangladesh’s industrial sector may be on the cusp of a significant renewable energy adoption wave — one that could reduce energy costs, improve sustainability compliance for EU buyers, and contribute to the country’s climate commitments.