Interim government Chief Adviser Professor Muhammad Yunus on Sunday (August 25, 2024) urged China to relocate some of its solar panel factories to Bangladesh in an effort to boost the country's green transition and exports. Chinese manufacturers "can relocate" solar panel factories to Bangladesh, which will help Bangladesh diversify exports and help transition into a green economy, the 2006 Nobel Peace Laureate said. Professor Yunus made the call when Chinese Ambassador to Bangladesh Yao Wen called on the Chief Adviser at the State Guest House Jamuna, according to the Chief Adviser’s press wing. The Chief Adviser stressed close economic collaboration between Beijing and Dhaka and asked the Chinese investors to relocate their plants in Bangladesh. Ambassador Wen said China stands ready to share its experience in reform and development with Bangladesh, implement the agreements and consensus reached by the two sides, and push forward pragmatic cooperation in various sectors. “No matter what changes have taken place in the domestic situation of Bangladesh, China’s commitment to develop China-Bangladesh relations remains unchanged,” he said. Ambassador Yao welcomed the formation of the interim government, and congratulated Prof Yunus on assuming the position of Chief Adviser during a courtesy call on him at Jamuna on Sunday. He stressed China’s support for the interim government to build a poverty-free, democratic, and prosperous Bangladesh. He said China has emerged as one of the largest manufacturers of solar panels, but the country increasingly faced restrictions in the export market. Prof Yunus also called for increased imports of Bangladeshi goods to China in an effort to increase economic cooperation between the two nations. He also called for technological transfer and increased collaboration in disaster management, education and farming. Ambassador Yao conveyed greetings of the Chinese leadership and its people to Professor Muhammad Yunus on his assumption of the leadership of the Bangladesh Interim Government. Read more: China’s commitment remains unchanged no matter what changes have taken place in Bangladesh: Ambassador Yao Wen The Ambassador said Beijing was ready to work with Dhaka and hoped that he would "fulfill expectations of a poverty-free Bangladesh". "The future of Bangladesh will be better and brighter under your leadership," he told the Chief Adviser. He said China and Bangladesh have recently upgraded their relationship to a "comprehensive strategic cooperative partnership" and added that both nations would celebrate the 50th year of diplomatic ties next year. The Ambassador said China would remain committed to finding a durable solution to the Rohingya crisis including a ceasefire in violence-torn Rakhine state in Myanmar. Professor Yunus hoped that China would continue to provide political, financial and humanitarian assistance to more than one million Rohingya people living in Bangladesh. The Chief Adviser also recalled his fond memories in China where several universities have set up Yunus Centres and many young people have formed Three Zero Clubs whose members make a commitment for zero contribution to climate change, zero wealth concentration and zero unemployment. He emphasised youth to youth collaboration and people to people connection between the two countries. During the meeting the Chinese Ambassador conveyed Chinese leaderships' invitation to Professor Yunus to visit China at his convenient time. He said Bangladesh was at the crossroads but "the people of Bangladesh will overcome the challenges." The Chinese Ambassador handed over a cheque for US 20,000 dollars to the Flood Relief Fund of the Chief Adviser from the embassy. Read more: Interim government keen to work closely with China: Foreign Affairs Adviser  He said the Chinese Red Cross would also donate US 100,000 dollars as humanitarian aid to Bangladesh's flood affected people. Ambassador Yao said that China strictly follows the principle of non-interference in other countries’ internal affairs, respecting the development path independently chosen by the Bangladeshi people, and expects that Bangladesh would realize unity, stability, development and prosperity at an early date. The ambassador said that China and Bangladesh are traditionally friendly neighbors and comprehensive strategic cooperative partners. The bilateral relationship sets up a model of mutual respect, and cooperation for win-win results for developing countries. The envoy said China firmly supports Bangladesh in safeguarding its national sovereignty, independence, and territorial integrity, maintaining national unity and stability, and playing a more significant role in international and regional affairs. He said that both China and Bangladesh are at a crucial stage of development and revitalization, with enormous potential for cooperation. China is about to import fresh mangoes from Bangladesh, expedite the negotiation for a Free Trade Agreement, optimize the China-Bangladesh Investment Agreement, encourage local currency settlement in bilateral trade and support Chinese enterprises in investing in Bangladesh. “China is committed to working with Bangladesh to organize and carry out activities for the ‘China-Bangladesh Year of People-to-People Exchanges’ in 2025,” said the ambassador. China will also maintain visits and exchanges at all levels and in various sectors, elevating the Comprehensive Strategic Cooperative Partnership to a new height, he said. Ambassador Yao reiterated that China is determined to encourage and engage with the relevant parties in Myanmar for a ceasefire, so as to create amicable conditions for the early repatriation of the displaced people from Rakhine State of Myanmar. Read more: China welcomes the new interim government in Bangladesh: Spokesperson

The Asian Development Bank (ADB) has signed a $121.55 million financing package with Dynamic Sun Energy Private Limited to build and operate a 100-megawatt (MW) grid-connected solar photovoltaic power plant in Pabna, Bangladesh.  The plant is the country’s first private sector utility-scale solar facility to secure support from global financiers, said the Manilla-based lending agency on Monday (April 29, 2024).  ADB arranged, structured, and syndicated the debt package as the sole mandated lead arranger and bookrunner.  The financing package comprises a $46.75 million loan from ADB, a syndicated B-loan of $28.05 million from ILX Fund I, an Amsterdam-based emerging market private credit fund focused on supporting the Sustainable Development Goals with ADB as lender of record, and a syndicated parallel loan of $46.75 million from the Japan International Cooperation Agency.  Competition policy can unlock increased FDI flows into Bangladesh: ADB Country Director to MCCI “As Asia’s climate bank, ADB welcomes the opportunity to support renewable energy in Bangladesh, where obtaining long-term financing for such projects is a challenge,” said ADB Private Sector Operations Department Director General Suzanne Gaboury. “This partnership exemplifies our lead role in mobilising financing for clean energy facilities and stimulating further investment in sectors where it’s needed the most.” The solar power plant will generate 193.5 gigawatt-hours of electricity annually and avoid 93,654 tons of carbon dioxide emissions annually. “We are delighted to secure financing for one of the largest private sector solar projects in Bangladesh to date, with the support of international lenders led by ADB,” said PT Managing Director Shakhawat Hossain.  “Partnering with an internationally reputable financial institution such as ADB affirms PT’s dedication to sustainability and marks a significant stride in our journey towards sustainable growth.” Banks tailoring offshore services with lucrative benefits aimed at wealthy NRBs DSE is owned by Paramount Textile PLC (PT), one of the largest woven textile manufacturers in Bangladesh, which also operates several power plants.  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. 

For countries to transition away from fossil fuels and toward cleaner energies like solar power, supply chains for components need to be more geographically diverse, officials said during a conference on solar energy in New Delhi said on Tuesday. Currently, 75% of components needed for solar power are manufactured in China, according to a recent report by the International Energy Agency. Representatives at the fifth assembly of the International Solar Alliance, made up of 110 member countries, want that to change. “By 2030, we expect that solar will be the cheapest source of electricity in most geographies,” said Ajay Mathur, director general of the ISA. Adding that freight prices have spiked, Mathur urged for “multiple regions from which solar photovoltaic products can go from the producer to the supplier” to ensure that more nations benefit from the cheap prices of solar energy. Launched by India and France at the 2015 Paris climate conference, the ISA aims to promote the use of solar energy as countries look to reduce their fossil fuel use to curb global warming. And although China has invested over $50 billion in new solar supply capacity – ten times more than Europe − and created more than 300,000 manufacturing jobs, it is not part of the alliance. “China’s policies have contributed to a cost decline of more than 80%, helping solar photovoltaics become the most affordable electricity generation technology in many parts of the world,” said senior International Energy Agency analyst Heymi Bahar. “However, they have also led to supply-demand imbalances.” Read: Tariff & land main obstacle to the solar power: Nasrul Hamid Bahar added that the global market is almost entirely reliant on China for solar products, with 15% of global supply coming from one Chinese plant alone, leading to concerns that the world is too reliant on a few, concentrated supply chains. “This concentration has already resulted in prices increasing during the Covid-19 pandemic and extreme weather events” in China when exports were disrupted, Bahar said. ”Diversification will result in a more secure supply chain.” Industry experts say that a diversified supply chain can also increase employment, grow economies, encourage innovations, provide energy security as well as help countries achieve their climate goals. “Right now, the jobs that are being created in countries like India are largely in the construction and installation side of things and not on the manufacturing side,” said Ulka Kelkar, who directs India’s climate policy analysis for the World Resource Institute. “To really benefit from the full potential of the job creation possibilities of solar manufacturing, it is important to diversify.” India’s federal minister for power, RK Singh, told the conference on Tuesday that countries have “the responsibility of enabling development in the parts of the world that lack access to energy and energy security.” Read: Why solar power investors are in no man's land The Indian federal government recently approved funding to the tune of $2.6 billion for a production-linked incentive scheme that would encourage domestic solar module manufacturing. The U.S.’s Inflation Reduction Act also encourages domestic manufacturing of solar power components. The solar energy market needs to grow tenfold by the end of the decade if global climate goals are to be met, according to both the ISA and the International Energy Agency. The ISA’s assembly, which runs until Wednesday, also announced programs that will encourage investments in solar energy in Africa as well as help start-ups in the solar energy space.

State Minister for Power, Energy and Mineral Resources Nasrul Hamid has underlined the need for finding new sources and better use of modern technologies to face the challenges in the energy sector. He said that tariff and land availability have been the main obstacles to promotion of solar power in the country. He made the remarks while British High Commissioner to Bangladesh Robert Chatterton Dickson called on him at his office at the ministry on Wednesday. During the meeting they discussed bilateral issues of mutual interest. Read: E-waste management should be safe and environmentally friendly: Nasrul Hamid The state minister said it is essential to boost energy conservation activities. "The government has been working sincerely to promote clean energy. The process of importing hydropower electricity from Nepal is at the final stage”, he told the British envoy. He also discussed the nationally determined contribution (NDC), climate change, local and sub-regional power sharing, power import, nuclear energy, renewable energy, solar home system, smart grid, primary energy, net metering system, electric vehicle, lithium battery, onshore and offshore wind power systems. Senior climate and environment advisor Anna Balance and climate change policy manager Marjan Nur were present on the occasion.

It has been more than seven years since the prime minister directed the authorities to install rooftop solar power system in all schools across the country. The order is yet to see the light. An official document, obtained by the UNB, shows that Prime Minister Sheikh Hasina issued an order on April 9 in 2015 to the power authorities to bring country’s all schools under solar power system Following the order, the Power Division of the Ministry of Power, Energy and Mineral Resources asked all the 6 power distribution companies to take initiative to implement the order. Read: Climate Smart Solar Irrigation to meet challenges of climate change: Researchers urged As per the order, Bangladesh Power Development Board (BPDB), Bangladesh Rural Electrification Board (BREB), Dhaka Power Distribution Company Limited (DPDC), Dhaka Electric Supply Company (Desco), West Zone Power Distribution Company Limited (WZPDCL), and Northern Electric Supply Company (Nesco) conducted their own surveys under a certain category and selected 92,513 schools across the country to install the rooftop solar power system. According to the surveys, the total rooftop solar power plants' length was calculated to be 20.031 million square meters which would generate 1,185 MW of electricity. Officials said the main idea behind the PM's order was to promote green energy and reduce carbon emission as part of Bangladesh's Global Climate Change commitment. Sources said though the surveys were conducted by the distribution companies, there was no follow-up either from the ministry, or from the distribution companies to implement the highest official directive. About five years later, the Sustainable and Renewable Energy Development Authority (Sreda) and Power Cell, the technical wing of the Power Division, prepared a report fixing some criteria and also the process that would apply in implementation of a project in this regard. Sources said the report was sent to the Power Division on May 26 last year. But the Power Division found the report a bit incomplete as it didn't mention which ministry would bear a huge cost that would be required to executive the project. Secondly, they said, it was also not clear as to whether the ministry concerned should implement such a project on Capex Model or on Opex Model. Read: Govt exploring rooftop, floating solar power for scarcity of lands: Nasrul In the Capex Model, the beneficiary ministry or an organisation would install the solar plant at its own cost and get the ownership. On the other hand, under the Opex Model, a third party would install the plant at its own cost as an independent power producer (IPP) and sell the electricity to the beneficiary organisation. Official sources said that recently the Sreda and the Power Cell recast their joint report on the issue and re-sent the report to the Power Division. They said the report was prepared considering the country's achievement of completing 100 per cent electricity coverage. A source at Power Division, wishing not to be named, informed that a high level meeting of the decision recently decided to send an executive summary on the subject to the prime minister for further instruction.

Land, capital and labour are key to any economic venture. But investors in Bangladesh's renewable energy sector claim that finding land for setting up a business is their biggest challenge. This, they say, is gradually turning out to be a major hindrance to setting up green power projects in this country -- particularly at this juncture when the government is focussing on low-cost renewable energy in view of the country’s climate change commitments. Investors say it's high time that the government leased out land in char (island) areas for a minimum of 25 years to private players waiting to employ capital for a green and clean Bangladesh. This would also help Bangladesh meet its commitment to generate 25% of its total power from renewable sources by 2030 and 40% by 2050. Sustainable and Renewable Energy Development Authority (Sreda) figures show that the government has undertaken a total of 47 grid-connected large solar power projects in the past 10 years. But so far, only seven of them have been implemented. Sreda officials say that any solar power plant would require three times more land than the conventional power projects, "but undisputed land seems to be have become a scare resource in Bangladesh these days". In the past few years, many local and foreign investors have expressed interest in setting up green power plants. "But even after getting an approval, several of them have not been able to acquire land for their dream projects," says an official. According to former Sreda member Siddique Zobair, when an investor fails to acquire adequate land for a project, their financers also withdraw themselves from the scheme. "No agency wants to take the risk of financing a project having no land." Scatec Solar, a European investor wanting to set up a 50 MW plant at Nilphamari, for instance, had to finally abandon a project, he says. Dipal Chandra Barua, the president of the Bangladesh Solar and Renewable Energy Association (BSREA), concurs.  "it will be very easy to generate 5,000 MW of solar power if the government steps in to arrange land in the char areas on lease. It will reduce the cost of power generation from solar energy as well," he says. Munawar Misbah Moin, president of the Solar Module Manufacturers Association of Bangladesh (SMMAB), says that leasing out land in char areas will definitely play a vital role in scaling up efforts for implementing solar power projects. "Many countries, including neighbouring India, are now emphasising on renewable energy from a climate change perspective, which Bangladesh should follow by setting up more solar power plants that are very environment-friendly," he asserts. Also read: Govt exploring rooftop, floating solar power for scarcity of lands: Nasrul Bangladesh currently holds the presidency of the Climate Vulnerable Forum and gives the lead in the global campaign for promoting all efforts towards urgently reinforcing climate and economic resilience.  

In power generation, reducing overheads is usually very difficult, particularly when the global crude oil prices are on a firm upward trend. But migration to low-cost solar energy could help the state-run liquid-fuelled power plants in Bangladesh offset the financial stress caused by a costlier crude. This suggestion has come from key players in the renewable energy industry, who cite the recent rise in diesel prices to pester the government to invest heavily in renewable energy sources. In fact, the government increased the diesel rates to Tk 80 a litre from Tk 65 per litre in November last year, while the furnace oil prices remained static at Tk 60 per litre. Also read: Govt exploring rooftop, floating solar power for scarcity of lands: Nasrul As per the 2020-21 annual report of the Bangladesh Power Development Board (BPDB), a whopping Tk 779.40 crore was spent on diesel to generate electricity from its own liquid-fuelled power plants.

A road map has to be prepared right now to reach the government’s goal of increasing the country’s consumption of renewable energy to 40 per cent by 2041, Information and Broadcasting Minister Hasan Mahmud has said. He said, “From now on, if a road map is prepared, it is possible to achieve these goals gradually.” The minister made this remark at a COP26 side event titled 'Foreign Investment in Renewable Energy Sector' organised by the Power Division at Bangladesh Pavilion in the Scottish city of Glasgow on Tuesday evening. Read:COP26: Time running out in Glasgow, as delegates wrangle over details He told the representatives of Bangladesh’s development partners present at the meeting that Bangladesh will benefit from the use of modern technology and financial assistance to reach its green energy targets by 2041.    He suggested turning the urban wastes into renewable energy besides raising the use of solar power. This will make the environment clean and save money too. There is no alternative to green energy to make the global mitigation efforts a success, the minister added. He said that Bangladesh is an innocent climate victim due to the continuous carbon emissions of the developed countries of the world. But they are not giving any compensation or technical assistance for causing this damage. About the development in the power and energy sector in the country, Hasan Mahmud said per capita income and average life expectancy have increased due to the development of this sector. The living standard of the people has improved. “Now people in remote areas of the country have access to electricity, their income has also increased.” Besides, he said Bangladesh has become a middle-income country this year thanks increasing electricity coverage. Now the per capita income stands at $2250. Read: COP26: Bangladesh delegation senses ‘positive vibe’ as Week 1 ends Noting that remarkable development has been achieved in the power and energy sector under the visionary leadership of Prime Minister Sheikh Hasina, the minister said 100% of the people of the country will get access to electricity by the end this year. When Sheikh Hasina took over as the prime minister in 2009, her government inherited only 3,500 MW of electricity, which in the last 12 years has increased to 24,000 MW. Secretary of the Power Division Md Habibur Rahman, Chairman of Sustainable and Renewable Energy Development Authority (Sreda) Mohammad Alauddin, Director General of Power Cell Mohammad Hossain and Palli Karma-Sahayak Foundation (PKSF) Deputy Managing Director Fazle Rabbi Sadeque Ahmed were present at the event among others.

World's first partnership for interconnected solar grid, known as the Green Grids Initiative - One Sun One World One Grid (GGI-OSOWOG) launched on Tuesday at the COP26 climate conference in Glasgow. The International Solar Alliance (ISA), India Presidency of the ISA, and the UK COP Presidency unveiled plans for the first international network of global interconnected solar power grids, GGI-OSOWOG, at the COP26 climate conference in Glasgow, an ISA statement said, reports the Economic Times. The announcement was accompanied by the One Sun declaration. "Realizing the vision of One Sun One World One Grid through interconnected green grids can be transformational, enabling all of us to meet the targets of the Paris Agreement to prevent dangerous climate change, to accelerate the clean energy transition, and to achieve the Sustainable Development Goals.These efforts can stimulate green investments and create millions of good jobs. By sharing the sun's energy, we can help to build a more peaceful and prosperous world," the declaration stated. The declaration has been endorsed by 80 ISA member countries. The project, being spearheaded by India and the UK in partnership with the ISA and the World Bank Group, aims to harness solar energy wherever the sun is shining, ensuring that generated electricity flows to areas that need it most. READ: Bangladesh’s single largest rooftop solar power plant inaugurated in Korean EPZ The GGI-OSOWOG will bring together a global coalition of national governments, international financial and technical organisations, legislators, power system operators and knowledge leaders to accelerate the construction of the new infrastructure needed for a world powered by clean energy. In doing so, the project aims to reduce reliance on non-renewable energy such as coal by enabling them to purchase affordable solar power from other countries. The ISA aims to help mobilize USD 1 trillion of funding by 2030 to assist developing countries in expanding their solar power grids, both in transmission and generation, to meet their energy needs. The initiative is widely seen as a big and bold move in ISA's ongoing efforts to realise a global solar transition roadmap and will go some way towards realising its vision for a solar energy future. Speaking at the event, Prime Minister Narendra Modi said: "The One Sun One World One Grid and Green Grids Initiative is an idea whose time has come. If the world has to move to a clean and green future, these interconnected transnational grids are going to be critical solutions." READ: Solar power plant in Manikganj starts commercial operation The event also featured an address by the UK Prime Minister Boris Johnson. "The UK is working hand-in-hand with our friends in India to transform the future of the power sector and ensure clean and reliable electricity is accessible everywhere by the end of this decade. It's fantastic that over 80 countries have backed our newly launched Green Grids Initiative, whose collaboration will not only see greater growth, jobs and investment in our global green future, but also make sure no one is left without access to energy," Johnson said. ISA Director General, Dr. Ajay Mathur said: "This network has the potential to be a modern engineering marvel, and a catalyst for greatly expanding renewable electricity generation, and effectively mitigating climate change in the next decade. "At a global level, almost 2600 GW of interconnection capacity may be possible up to 2050, delivering estimated power savings of 226 billion euros per year. The One Sun Declaration is multilateralism in action, with leaders of the world coming together to drive sustainable impactful change for a cleaner planet and a greener economy." "Through the power of solar and other renewables, and our collective efforts, we believe we can build and support a transition away from fossil fuels to a cost-effective solar future and open up affordable, renewable electricity supplies to markets that have been historically underserved." The project will drive global interconnectivity across the Middle East, South Asia, and Southeast Asia, while leveraging African power pools. The global grid concept was first announced by Modi in October 2018 during the first assembly of the ISA. In May 2021, the UK pledged technical, financial and research support for the OSOWOG project. The International Solar Alliance (ISA), was launched at COP21 in Paris and has recently expanded its membership scope to include all UN member states. There are 90 signatories and 193 prospective members.

Solar light posts are being installed on 28-km Juri-Baralekha road in Moulvibazar district to light up the hilly tracks and reduce road accidents, said Environment, Forest and Climate Change Minister Md. Shahab Uddin. The 30 watts solar lights are being installed at 373 important points from Bhuiya Bazar in Juri upazila to Chandagram Bazar in Baralekha upazila, said a media release Saturday. Read:Is solar power the solution to Bangladesh's growing energy needs The project has been funded Tk 5 crore by Climate Change Trust under the ministry of environment, forests and climate Change. Major aims of the project are to reduce greenhouse gas emissions as well as urbanising rural areas. The minister, who is an MP from the area,  said as part of the implementation of Prime Minister Sheikh Hasina's 'Village will be City' plan, solar lights are being provided on roads in remote rural areas of the country. He also said that the widespread use of fossil fuels is increasing the amount of greenhouse gases in the atmosphere which is responsible for global warming. To this end, the government is implementing initiatives to generate electricity using various types of renewable energy, including solar power. Read: Renewable energy: 40% target 'ambitious, but roadmap absent' “Solar power has been provided in different parts of the country with the funding of Bangladesh Climate Change Trust,” he added. Solar lights will be installed in phases in all the areas of the country, the release said.