Dhaka, April 30 -- The Asian Development Bank (ADB) will provide US$121.55 million to a Bangladeshi private sector company for constructing a 100-megawatt solar-based power plant in Pabna.

The Manila-based lender and the private sector company Dynamic Sun Energy (DSE) Private Limited signed an agreement to this end on Monday.

DSE, owned by Paramount Textile PLC (PT), one of the largest woven textile manufacturers in Bangladesh, also operates several power plants.

The PT manufactures high-quality yarn-dyed and printed woven fabrics using a wide range of yarns, modern weaving technologies, and print types. PT was publicly listed on the Dhaka and Chittagong stock exchanges in 2013.

The plant is the country's first private sector utility-...