Bangladesh needs to expand its renewable energy capacity by 21 percent annually to meet its latest green energy target by 2030, requiring nearly $1 billion in yearly investment, according to a study by the Institute for Energy Economics and Financial Analysis (IEEFA).
The government plans to scale back its dependence on foreign loans as it seeks to mitigate threats to external debt sustainability.
The government has updated the Renewable Energy Policy after 17 years, aiming to produce at least 20 percent of the national power demand from green sources by 2030.
Target set to meet 20% of power demand from green sources by 2030
The loan utilisation period for the Rooppur Nuclear Power Plant is set to be extended by three years, as about $3.38 billion of the Russian credit remains unspent after the original deadline expired in December 2024.
Bangladesh's total debt reached Tk 1,944,171 crore by December 2024, increasing debt servicing pressure
The proposal to release the third and fourth tranches of the International Monetary Fund’s $4.7 billion loan is set to be presented to the multilateral lender’s board on June 23 after the government fulfilled all prior conditions.
Demonstrators' demands include removal of REB chairman, unified service rule
The interim government is planning to prepare a small budget with a 6 percent GDP growth target for the next fiscal year considering the sluggish economy and low revenue collection.
Professor Muhammad Yunus, chief adviser of the interim government, yesterday instructed his cabinet colleagues to prepare for Bangladesh’s status graduation from a least developed country (LDC) to a developing nation in November 2026, effectively doing away with all speculation.
Revenue collection fell significantly short of the International Monetary Fund’s (IMF) target in the first six months of the current fiscal year, with the floor for the fourth instalment of an ongoing $4.7 billion loan programme proving too ambitious.
Industrial users are counting 30 to 50 percent production losses for the last couple of months thanks to a gas shortage.
The Bangladesh Power Development Board (PDB) has projected the highest electricity demand during the summer months would be 18,000 megawatts (MW), while the highest production target is 17,260MW.
Dhaka, the capital of Bangladesh, has long been a vibrant cultural and economic hub. As one of the world’s largest megacities, it never sleeps, embracing millions from diverse backgrounds.
The interim government must suspend the inefficient and costly power plants and renegotiate the capacity payment terms with the private power producers as the structure incentivises inefficiency, according to the report of the task force.
Protesters block roads, railways, leaving thousands stranded
Subsidies for the power sector are likely to balloon 83 percent this fiscal year as the interim government is planning to clear all arrears owed to private power producers.
Titas Gas’s system loss hit a decade high of 1,204 million cubic meters in fiscal 2023-24 -- enough to meet a month’s import bill of high-priced liquified natural gas (LNG).
