The Amar Bangladesh Party (AB Party) emphasized on Monday that, due to the country’s geographical characteristics, renewable energy is the most viable option for Bangladesh, particularly for remote regions like char areas, islands, and hilly districts.

At a press conference, Asaduzzaman Fuaad, the party’s joint member secretary, highlighted that renewable energy is essential to meet future energy demands, especially as global electric vehicle usage increases and environmental concerns grow.

Fuaad also warned that blocking investments in the renewable energy sector, particularly following the July-August Monsoon uprising, could harm Bangladesh’s interests. 

He stressed that the country has already attracted significant foreign investment in renewable energy, and halting this progress could undermine national development and energy security.

Key Recommendations for Renewable Energy sectors are the following:

1.       Secure Ongoing Projects: Foreign investments in 34 projects (approximately 2,700 MW capacity) must be protected, avoiding unnecessary disputes and maintaining investor confidence. These projects could generate $5 billion in foreign investments, preventing reputational damage;

2.       Land Utilization: Utilize government-owned fallow and char lands (sand beds) for solar projects through open tenders, enabling cost-effective energy production;

3.       Complete Feasibility Studies: Expedite World Bank-funded solar energy feasibility tests in Islampur area of Jamalpur district char areas of 20 thousand acres of land, four barren sand beds, to develop up to 20,000 MW electricity over the years;

4.       Solar Irrigation: Replace diesel irrigation pumps with solar alternatives to reduce production costs and diesel imports;

5.       Rooftop Solar: Expand net metering systems for rooftop solar energy production, involving homeowners, energy companies, and investors;

6.       Electric Vehicles: Promote electric vehicle production through public-private investment, incentivizing adoption;

7.       Tax Reductions: Lower or remove tariffs on essential renewable energy components like solar panels and inverters;

8.       Regional Energy Policies: Implement regional Feed-in-Tariff (FiT) systems to boost renewable energy generation;

9.       Hydropower Imports: Explore cost-efficient imports of hydropower from Bhutan and Nepal, if at all necessary, via dedicated transmission lines;

10.   Battery Storage Systems: Establish low-cost battery storage systems for off-peak energy use, ensuring stable electricity transmission and service to remote areas.