In Bangladesh, civil society has demonstrated a renewed commitment to promoting clean energy since early 2020.
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 recent announcement to build a new coal-fired power plant to generate cheaper electricity than oil-fired peaking plants further highlights the lack of policy coherence.
Despite Bangladesh’s lofty aim of generating 40 percent of its energy from renewable sources by 2040, the country faces a significant funding gap, as only 3.6 percent of the required funds were allocated to the sector in 2023, according to a study.
Although the Awami League government made ambitious commitments to renewable energy before being ousted by a mass uprising in August last year, meeting those lofty goals remains a distant dream for the country.
Germany will provide Bangladesh with 1 billion euro over the next decade to support renewable energy projects, including an initial 15 million euro this year, Environment, Forest, and Climate Change Adviser Syeda Rizwana Hasan said yesterday.
Government must overhaul existing energy strategy, prioritise clean energy
Bangladesh’s trajectory towards energy transition has been challenging but also provides valuable opportunities for other countries to learn from it.
The nation’s power sector will create at least 9,300 jobs in the renewable energy sector if the government can fulfil its target of renewable energy usage by 2030, a study conducted by the Centre for Policy Dialogue (CPD) found yesterday.
As a tropical country, Bangladesh should seize the opportunity to harness renewable energy.
We need to invest in renewables now
It’s time to address the technical, operational, managerial, design and planning aspects of the energy crisis.
It is time to reduce our dependence on fossil fuels altogether.
The latest energy master plan does not align with Bangladesh's clean energy targets
