Country needs $75b in next 15 years for uninterrupted energy supply: Nasrul Hamid
"The usage of electricity and energy is different in each country. A successful transition from fossil fuels to clean energy requires coordinated and collective action,” he said
The country's power sector requires around $75 billion in investment over the next 15 years to ensure a consistent and affordable energy supply, said State Minister for Power, Energy, and Mineral Resources Nasrul Hamid today.
Addressing a seminar at the Regional Climate Summit 2023, Nasrul acknowledged that each country faces unique energy consumption patterns, and stressed the need for coordinated international efforts to transition from fossil fuels to clean energy.
"The usage of electricity and energy is different in each country. A successful transition from fossil fuels to clean energy requires coordinated and collective action," he said.
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"There are some specific challenges in implementing renewable energy, especially solar power projects. It takes a lot of land to implement large-scale solar projects in a densely populated country like Bangladesh. These challenges can be tackled through the free flow of technology and research."
The seminar, titled "Energy Policy: Ensuring Access to Affordable, Reliable, and Modern energy service towards a resilient South Asia", brought together experts and stakeholders. The session was moderated by Farah Kabir, country director of ActionAid Bangladesh.
At the event, the state minister reaffirmed the government's commitment to achieving an uninterrupted power supply at affordable rates, and discussed the government's efforts to address this challenge
He noted that the government has introduced various policies and initiatives to promote renewable energy, enhance energy efficiency, and expand the use of clean energy sources. These initiatives include the Integrated Master Plan, Mujib Climate Prosperity Plan, Solar Energy Roadmap, Solar Irrigation Roadmap, and Renewable Energy Policy.
The government is actively involved in projects such as Solar Irrigation Pumps, Solar Street Lights, Solar Drinking Water Systems, Solar Mini Grids, Biomass Plans, Waste-to-Power, and Wind Power, he added.
Nasrul Hamid highlighted the significant impact of solar home systems, stating that 20 million people are receiving electricity through six million solar home systems, improving their quality of life and empowering communities.
He, at the time, expressed the government's openness to foreign investments in Bangladesh's power sector.
According to him, the government's commitment to clean and green energy is underscored by the cancellation of ten coal-based power plant projects, resulting in a $10 billion investment shift toward cleaner energy sources.
