Jakarta, May 13 -- PT PLN Indonesia Power has signed a memorandum of understanding with Bangladesh's Bay Group to develop a 495-megawatt solar power project, marking its first venture in the South Asian country.

"This is our first project in Bangladesh, and we hope it will run smoothly. We see this cooperation as a strategic step to strengthen our position in the global market," Chief Executive Bernadus Sudarmanta said in a statement on Wednesday.

The initiative aligns with Bangladesh Power Development Board's plan to expand solar capacity across 10 strategic sites nationwide.

The MoU gives Indonesia Power the opportunity to participate in upcoming tenders and broaden its clean energy portfolio.

Bay Group appointed its subsidiary Cope...