Saudi firm, BPDB sign deal to set up 1000MW solar power plant in Bangladesh
Saudi Arabia’s ACWA Power has signed a non-binding memorandum of understanding (MoU) with the state-owned Bangladesh Power Development Board (BPDB) to set up a 1000MW solar power plant in Bangladesh. Welcoming the initiative, State Minister for Power, Energy and Mineral Resources Nasrul Hamid said that the investment and technological assistance from Saudi Arabia’s ACWA will help Bangladesh achieve its clean energy by 2041 goal. He said Bangladesh has been promoting renewable energy in various ways. Read more: Govt positive about Singapore company's 400MW Matarbari solar power plant proposal: Nasrul “The government has been working in a coordinated manner to promote renewable energy. State-owned Sustainable and Renewable Energy Development Authority (SREDA) is providing necessary technological support and consultations,” he said at the contract signing ceremony held at Biduyt Bhaban in Dhaka on Monday (November 28, 2022). BPDB Board Secretary Mohammad Selim Reza and ACWA Power Business Development Department’s Executive Director Ayad Al Amri signed the MoU on behalf of their respective sides. As per the non-binding MoU, Saudi ACWA Power will provide technological and financial support while BPDB will extend its administrative support for the 1000MW solar power project. Read more: British High Commission Dhaka turns to renewable energy through solar panels With BPDB chairman Md Mahbubur Rahman in the chair, the MoU signing event between BPDB and Saudi Arabia’s ACWA Power was also addressed by power secretary Habuibur Rahman and Saudi Arabia’s ambassador to Bangladesh Essa Bin Yousef Al Duhailan.
Green Economy in Bangladesh: Prospects and Challenges
The green economy is a new way of living that is based on sustainable consumption and production. In recent years, the concept of a green economy has been getting widely accepted in many countries. To make the green economy a reality in Bangladesh, there are some challenges that are needed to be addressed. One challenge is the lack of access to clean energy, which makes it difficult for people to live sustainably. However, the Bangladeshi Government has already implemented sound policies that would help promote the green economy. Let’s focus on the problems and prospects of the green economy in Bangladesh. What is the Green Economy? The green economy is a term that refers to a way of living that is environmentally friendly and economically sustainable. It refers to practices and policies that promote green energy production, consumption, and waste reduction. Green economy initiatives can be focused on a specific sector or area, such as renewable energy, transportation, agriculture, city planning, or manufacturing. The Green Economy has been growing in popularity since the term was used in a 1989 report by a group of leading environmental economists, which was made for the Government of the United Kingdom. Read Renewable energy: 40% target ‘ambitious, but roadmap absent’ In 2008, the United Nations Environment Program started the Green Economy Initiative (GEI). The objective was to strengthen support for environment-friendly investments. One of the aims of the initiative was to increase support at the country level for global risk studies and influence policy-makers to implement green economy programs. Prospects of Green Economy in Bangladesh Generally, the financial sector of a country supports the economic growth of that country. So, if the activities of the financial industry are carried out with proper preparation and sincerity, the expansion of the green economy can be another development wonder in Bangladesh. The population in Bangladesh is increasing day by day. And the use of technology in various stages of product production by various organizations is increasing to keep pace with the increased demand. Hence, the standard of cleanliness of the environment is decreasing. Read Jashore waste treatment plant makes a big difference These eventually increase the unexpected costs related to health, loss of biodiversity, carbon emissions, irreparable damage to the ecosystem, surface temperature, climate change, heavy rainfall, non-rainfall, cold currents, etc. To cope with these issues, the development of a green economy can bring solutions as well as opportunities for exploration within a natural and healthy natural environment. Green communication, green agriculture, green energy, green banking, green technology, green investment, green marketing, green industry, working environment, transportation, biogas, and geothermal energy all are directly related to a green economy. Read UNGA chief calls for shift to green economies on Mother Earth Day However, Bangladesh is not yet ready to apply all of these to improve the green economy. It is a costly and slow process. But the country has some prospects in some sectors such as using solar energy, recycling the used product, green agriculture and using biogas. Bangladesh can increase the use of solar energy. With the proper use of endless light and heat from the sun, we can create an environment-friendly country in the coming days through various effective measures. Fossil fuel reserves are not infinite, and they will be finished. But solar energy is derived from nature, a great gift of nature. Encouraging the principle of conservation of natural resources derived from nature ensures habitable earth for future generations. Read What can COP27 do for climate vulnerable countries? Moreover, renewable energy can be derived from ocean waves, water, and wind without any negative environmental impact. Thus, renewable energy generation, supply, and technological excellence will create jobs as well as create an environmentally friendly modern country. The growth and expansion of green employment depend on ensuring abundant use of renewable energy. Converting the environment and destroying waste into incredible energy resources will be the wealth of our future by processing the remaining unnecessary part of daily used products. Because excessive use of fertilizers and pesticides in unplanned agricultural management creates dire conditions. Therefore, the idea of green agriculture is the right decision for the coming future. Using green fertilizer and chemical-free fertilizer helps retain land fertility and increase fertility simultaneously with greater quantity on less land. Read BGMEA seeks faster delivery of raw materials through green channel Safe crop production is key. This system talks about all environmentally friendly production and production systems, including the use of organic fertilizers instead of chemical fertilizers, diversification of crops, and production of mixed crops. In this regard, encouraging the production and more use of biogas will lead the country toward risk-free environmental development. Challenges of Green Economy in Bangladesh The government has taken several important steps to take the green economy forward, which is very positive. But there are many challenges too. Costly Green factory installation costs can be up to 30% more than a conventional factory because pleasing production process, energy-efficient technology, water conservation technology, solar panel technology, inverter technology, and rainwater harvesting results in greater construction costs. Read Bangladesh fails to exploit full potentials of green energy: Official documents Moreover, industries need to utilize foreign consulting companies because of the absence of qualified professionals in the local area, which increases construction costs a lot. It, therefore, becomes quite hard to reach green economically. Lack of Policy Bangladesh has not issued a specific green industrial policy declaration. The high rates of corporate tax and value-added tax are also creating an obstacle to green industrialization, which also makes it challenging to import high-end machinery from abroad. Lack of Awareness Consumer behavior is additionally a tricky component in green industry development. The local consumers are poorly informed about the importance of going green. Demand for green products is from simply the western business world. As a result, only export-oriented enterprises are motivated to transition from green industries. Read Davos climate focus: Can ‘going green’ mean oil and gas? Other Challenges Land scarcity, a high-interest cost of loans, insufficient transportation options, insufficient infrastructure for utility services, and other problems can be obstacles to the establishment of green industries in Bangladesh. Taken Steps to Establish a Green Economy in Bangladesh The Bangladesh government has already taken several steps to go green. The Government has already approved the 'Renewable Energy Authority Act' in 2012. Coastal green belt development activities have been undertaken. Also, adopted a five-year waiver on the commercial production of renewable energy. The Bangladesh government has also taken steps to set up solar power and biogas plants. The Clean Development Mechanism (CDM) project was launched in 2013 to make organic compost fertilizer from municipal waste. To reduce air pollution from brick kilns, instructions have been given to convert old brick kilns to modern eco-friendly technology. Read Bangladesh, Denmark sign document to strengthen partnership on green transition Banks have now stopped lending to old brick kilns. A rapid expansion program has been undertaken to set up solar power and biogas plants. Environment courts have been set up in all districts. The government has already taken several steps to encourage farmers to use organic fertilizers. The country has already earned carbon credits by launching a project to produce bio-fertilizers from waste and use solar energy in some villages. Bangladesh Bank has launched a refinancing program for entrepreneurs to produce green products. Between 2012 and 2016, Bangladesh Bank almost doubled its capital (from Tk 478 million to Tk 920 million) in refinancing green products. Sectors receiving the highest amount of loans under this initiative are—eco-friendly brick kilns, renewable energy, and liquid waste management. Moreover, Bangladesh Bank has prepared environmental and social risk management policies. Through this policy, green financing initiatives have been taken. The organization is also working on identifying the risks of financing entrepreneurs involved in the production of toxic carbon monoxide and turning them green. Read RMG: BGMEA, Jeanologia to collaborate on promoting green technologies Final Words Both economic growth and environmental conservation are essential for a country. There is no other way to establish a green economy in Bangladesh to make it suitable for living with development. As we are one of the most vulnerable countries to climate change and the environment, it is important to quickly solve the problems by implementing a green economy. Because sustainable development is not possible without a green economy.
TEI GET to promote renewable energy in Bangladesh
Team Europe Initiative on Green Energy Transition (TEI GET) will promote renewable energy in Bangladesh in achieving its national goal. The TEI GET expressed such interest while a delegation of the organisation made a field visit to 3 renewable energy projects in Dhamrai area of Dhaka on Tuesday. According to a release, representatives off Germany and the European Union, as TEI GET Co-Chairs, along with high-level representatives of Denmark, Sweden, AFD, GIZ, KFW, Switzerland were present. Read Akij sets up rooftop solar plant with Huawei's technology Additional Secretary of Renewable Energy, Power Division of Bangladesh Md Mostafa Kamal,, Additional Secretary and Member Admin, Sustainable and Renewable Energy Development Authority (SREDA) Md Golam Mostofa were also present. The field visit, organized together with IDCOL, started with a guided tour of the operational rooftop solar with Net Metering system at Snowtex Outerwear Ltd. at Dhamrai, Savar, following a discussion meeting with TEI GET, IDCOL, Snowtex Management and Government counterparts. Later, the group visited an IDCOL project, co-financed by KFW, of Solar Irrigation Pumps, and a domestic biogas plant in Dhamrai. Read: 25% electricity from renewables by 2030: SREDA proposes, GOB disposes? During the visit’s discussion, Johannes Schneider, Head of Development Cooperation, Germany, highlighted EU Member States’ common interest to support Bangladesh in achieving their national goals and international commitments in the field of renewable energy through the Team Europe Initiative “This Initiative will allow us to better coordinate and consolidate our engagement in the Green Energy Sector and strengthen our relationship with the Bangladesh Government and the private sector,” he said. Maurizio Cian, Head of Cooperation, EU Delegation, highlighted the transformational approach of Team Europe said that the Team Europe’s common values and expertise in Renewable Energy are key drivers of this initiative. Read Bangladesh seeks IRENA’s support to explore renewable energy potential “Team Europe provides the framework to deliver European support to the Government of Bangladesh, with the ambition of a transformational impact in accelerating a green and just energy transition,” he added. Mostafa Kamal, Additional Secretary of Power Division, said that Bangladesh is committed to increase renewable energy contribution in the national power generation mix, to promote appropriate, efficient and environment friendly technology for the development of renewable energy. “We are looking forward to implementing our strategies in collaboration with Team Europe,” he said. Read: Renewable energy could be Bangladesh’s best option post Covid-19 TEI GET, launched in Dhaka in June 2021, aims at supporting Bangladesh to build a power system that leads to maximum coverage of the country`s energy demand through renewable energy while reducing GHG emissions, energy consumption and demand through energy efficiency. TEI GET, co-chaired by Germany and the EU includes EU Member States Denmark, France, Italy, Spain, Sweden, The Netherlands, the European Investment Bank (EIB) and like-minded countries like Norway and Switzerland. TEI GET comprises projects in the area of effective sustainable energy market, optimized grid infrastructure and renewable energy integration into the grid, it added. Read Govt aims for 10% electricity from renewables by 2025
Edotco's solar street lamp project launched
Edotco Bangladesh, an integrated telecommunications infrastructure services company, has launched its first solar lamp CSR Project in Ramu and Kutubdia of Cox's Bazar to enhance the rural communities' livelihood by providing free electricity. The solar street lamps are installed in the vicinity of the two edotco towers to light up the streets, used mainly by the local community at night, will benefit over 2,800 people. The initiative will allow residents in the area to continue their day-to-day work and business even after sunset, resulting in the overall economic progress of the community. Read Why solar power investors are in no man's land It will also ensure a better sense of safety, particularly for children and women, as the project now allows them to use the streets at night with ease and comfort. Ricky Steyn, country managing director of edotco Bangladesh, said: "We have always emphasised improving the lives of the underprivileged community living nearby our towers. We are delighted to launch effective and sustainable solutions like the Solar Lamp Project to provide free electricity in remote areas by harnessing solar energy." The Solar Street Lamp CSR initiative is part of edotco Bangladesh's Tower2Power project. Read Govt exploring rooftop, floating solar power for scarcity of lands: Nasrul Launched in 2016, the project is one of edotco's local initiatives that has enhanced the livelihoods of over 4,000 households with free electricity.
Solar power: The ultimate cap on costlier crude?
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.
US joins India-led International Solar Alliance as member country
The United States on Wednesday became the 101st member country of the India-led International Solar Alliance (ISA), as US Special Presidential Envoy for Climate John Kerry signed the ISA framework agreement to catalyse global energy transition through a solar-led approach. Kerry described the US membership as a major step towards the rapid deployment of solar power, as he formally signed the framework agreement at the COP26 climate summit in Glasgow reported The Economic Times. "It has long been coming, and we are happy to join the International Solar Alliance, which Prime Minister Narendra Modi took the lead in making," said Kerry. Also read: Kerry says US examining carbon border tax, sees risks "We worked out the details and this is a process we are pleased to be a part of. This will be an important contribution to more rapid deployment of solar globally. It will be particularly important for developing countries,” he said. Union Minister for Environment Bhupender Yadav welcomed the US as the 101st member of the ISA, saying this move will strengthen the solar alliance and propel future action on providing a clean source of energy to the world. "Happy that now USA is formally a part of International Solar Alliance, a visionary initiative launched by PM Shri @narendramodi Ji in 2015 at Paris COP. The number of countries who are now part of @isolaralliance is now 101,” the minister later tweeted. The ISA framework, first circulated for countries to support in 2016, emphasises delivering global relevance and local benefit to all countries through collaborations. The ISA's key interventions focus on readiness and enabling activities, risk mitigation and innovative financing instruments to facilitate the promotion and deployment of solar technologies in target markets. "The US' endorsement of ISA's framework and approach is an heartening development, especially as our 101st member nation, which is a significant milestone in itself, demonstrating that nations across the world are recognising the economic and climate mitigating value of solar, as well as this energy source's potential as a catalyst for global energy transition,” said Dr Ajay Mathur, Director General of the ISA. Also read: India At COP26 Says Its Solar Energy Capacity Increased 17 Times In 7 Years "We are now even more committed to translating this confidence into tangible projects and developments on the ground, accelerating the momentum of solar adoption that has been built so far. We hope remaining nations and economies will follow suit, and align with us to achieve swift, affordable and effective climate action, while also achieving their respective economic growth and long-term development priorities,” he said. The alliance highlights how the approach and methods detailed in the ISA framework have already delivered results, with ISA building a solar project pipeline of nearly 5 GW installed capacity. The approach detailed in the framework is designed to culminate in a vision for interconnected global grids, which was formalised and jointly launched as the ‘Green Grids Initiative – One Sun One World One Grid' (GGI-OSOWOG), during the World Leaders Summit of the COP26 in Glasgow last week by the UK Presidency of COP26 and India Presidency of ISA. Earlier at COP26, the United States also joined the Steering Committee of the GGI-OSOWOG comprising five members – US, Australia, France, UK, and India — and endorsed the One Sun Declaration along with 80 countries. The launch of the International Solar Alliance (ISA) was announced by Prime Minister Narendra Modi and Francois Hollande, former President of France, in November 2015 – at the 21st session of United Nations Climate Change Conference of the Parties (COP-21) in Paris, France.
Sreda launches help desk to provide one-stop service on rooftop solar
Sustainable and Renewable Energy Development Authority (Sreda) on Thursday formally launched a national solar help desk (NSHD) at its office to meet requirements of consumers and investors in renewable energy sector. “The NHSD will serve as a common platform to support the implementation of rooftop solar projects under net metering. Any interested person can access pertinent information on eligibility criteria, application process, financing options, and implementation process, and technical specifications of rooftop solar system, among others”, said a press release of the Sreda. Also read: Sreda, BGMEA sign deal for rooftop solar power promotion in RMG sector All the information will be available in a structured manner in the NSHD web portal – shd.sreda.gov.bd., it said, adding, there will also be options for obtaining service through virtual meetings or a physical visit at the Help Desk at the Sreda office, located in IEB Building, Ramna. State Minister of the Ministry of Power, Energy and Mineral Resources Nasrul Hamid attended the event virtually as the chief guest while Power Secretary Md. Habibur Rahman, Secretary, Chairman of Bangladesh Energy and Power Research Council (BEPRC) Satyajit Karmaker, Head of Development Cooperation of German Embassy Caren Blume were also present on the inauguration ceremony as special guests. Read Solar Home System: IDCOL partners seek govt intervention in loan write-off issue The help desk has been established in cooperation with GIZ Bangladesh. SREDA is committed in its efforts to achieve the national target of renewable energy development. To realize this goal, SREDA has taken a number of initiatives including issuing a guideline for development of rooftop solar under net metering. Also read: Sreda, BCSIR to work together for developing hydrogen fuel The Net Metering guidelines enacted in 2018 has laid the foundation for implementing rooftop solar projects at industrial, commercial and residential facilities with 3 phase connection and thereby, allowing consumers to transport surplus electricity, after self-consumption, to the national grid.
BREB to install 2,000 solar irrigation pumps; farmers can sell idle electricity to national grid
The use of solar power to run irrigation pumps is not new in the country. But a latest move offers something new and different to the farmers: sell your off-season idle electricity to the national grid and earn an income, too. Bangladesh Rural Electrification Board (BREB) plans to install 2000 solar irrigation pumps under the project allowing farmers to sell their unconsumed electricity to the national grid when irrigation is no longer required. The solar power-run pumps will replace the existing conventional diesel-run machines in 21 districts under a pilot project, said officials at the BREB. Read: EGCB signs MoU with Marubeni to build 100 MW solar plant in Sonagazi They said the BREB’s move comes as part of the government’s long-term aim to gradually replace the existing 1.34 million diesel-run irrigation pumps with solar across the country. In the first phase of the project, the Cabinet Committee on Public Purchase has recently approved four separate tender proposals of the BREB to install 1295 solar irrigation pumps at a cost of about Tk 157 crore. “These pumps will be installed in the districts of Noagaon, Dinajpur, Thakurgaon, Gopalganj, Faridpur, Madaripur, Kumilla and Feni under different rural electricity cooperatives known as Palli Biduyt Samiti (PBS)”, according to a BREB document. Read Bangladesh’s single largest rooftop solar power plant inaugurated in Korean EPZ BREB officials claimed that under the new system, solar electricity will have a better utilization by transmitting the off-irrigation power to the national grid. “We have calculated that farmers normally use pumps for 115-120 days of a year for irrigation, while the rest of the year the pumps remain off when solar electricity has no use”, said Shakil Ibn Sayeed, project director of the BREB. “So, BREB will purchase this electricity from the farmers at bulk rate to ensure a better use of the unconsumed electricity”, he told UNB. Read Biden’s solar ambitions collide with China labor complaints
Renewable energy: 40% target ‘ambitious, but roadmap absent’
Bangladesh has set a goal of generating 40 per cent of electricity from renewable sources in the next 20 years, but a roadmap on how to reach that lofty target is absent. The government has adopted a mega plan on power: to boost electricity production to 60,000 MW by 2041 with renewable energy’s share rising to 24,000 MW, which now stands at 700 MW. Energy experts and stakeholders in the green energy sector believe a comprehensive and inclusive roadmap is necessary to reach the target of 24,000 MW of electricity from renewable sources in the next 20 years. Read Bangladesh’s single largest rooftop solar power plant inaugurated in Korean EPZ State Minister for Power, Energy and Mineral Resources Nasrul Hamid unveiled the government’s latest vision on renewable energy during a Bangladesh-UK Climate Partnership Roundtable on June 2 in the city. President of COP26 Alok Sharma, Foreign Minister AK Abdul Momen, and Environment, Forest and Climate Change Minister Shahabuddin Uddin were present at the function. Earlier, Bangladesh had set a plan to generate 10 per cent of electricity from renewable sources by 2020. But it could raise it nearly 3 per cent only. Also read: Renewable energy could be Bangladesh’s best option post Covid-19 Data available from the Sustainable and Renewable Energy Development Authority (Sreda) shows the country now generates 730 MW from renewable sources, including solar, wind and hydro. About the new target, Nasrul said he is confident of achieving the goal as the government is determined to do this as part of its commitment to the Climate Vulnerable Forum (CVF) where Bangladesh is the chair. “We’ve already awarded a good number of contracts in public and private sectors for renewable energy plants which will cover 15 per cent while the country is trying to import hydro electricity from Nepal and Bhutan,” he said. Read EGCB signs MoU with Marubeni to build 100 MW solar plant in Sonagazi “A deal is ready to be signed with Nepal for importing 700 MW hydro power from Nepal while negotiations are on with Bhutan to import hydro power from the Himalayan nation,” he claimed, adding that if such moves become successful it would hugely boost the country’s renewable energy generation. Nasrul thinks the technologies on green energy are changing so fast that no long-term plan should be followed. “Instead, the country should work out a short-term plan for two or five years as a dynamic one to adopt new technologies,” he told UNB. Read Solar power plant in Manikganj starts commercial operation Nasrul said the new target will be aligned with the next Power System Master Plan (PSMP).
Solar power plant in Manikganj starts commercial operation
A 35MW solar power plant in Manikganj has gone into commercial operation supplying electricity to the national grid. “The plant has been supplying electricity to the national grid since it started its commercial operation in March this year,” said Imran Chowdhury, country head of the Sungrow Power Supply Company Ltd, which worked for the project as engineering, procurement and construction (EPC) contractor. Spectra Solar Park Ltd, (SSPL), a joint venture of Bangladeshi Spectra Group and Chinese Shunfeng Investments Limited (SIL), developed the project at Shibalaya Upazila in Manikganj with $15 million financial support from the Asian Development Bank (ADB). Read: Solar Home System: IDCOL partners seek govt intervention in loan write-off issue The state-owned Bangladesh Power Development Board (BPDB) will purchase electricity from this independent power producer (IPP) project at a rate of TK 11.12/kWh ($0.13) under a 20-year power purchase agreement (PPA). Official sources said SSPL is a special purpose vehicle (SPV) owned by Bangladesh-based Spectra Engineers Limited (SEL) and the Hong Kong, China-based Shunfeng Investments Limited (SIL). The SSPL is the borrower for the loan and will build, own, and operate the project. SEL owns 80 percent of SSPL and SIL owns the remaining 20 percent. Read Consider downward revision of power generation plan: CPD to govt According to the sources, the Consortium of Spectra Engineers Limited & Shunfeng Investment Limited owned the 35 MW (AC) grid-connected solar park through an unsolicited offer under the Fast Power and Energy Supply (special) Act. They said this has been the 4th IPP project that came into operation although more than 20 such projects were awarded to private sponsors. Read:Sreda, BGMEA sign deal for rooftop solar power promotion in RMG sector Earlier, 4 IPP projects -- 50 MW (AC) Solar Park Gauripur, Mymensingh by HETAT-DITROLIC-IFDC Solar Consortium, 8 MW Solar Park in Panchagarh by Parasol Energy Ltd., 20MW (AC) Solar Park Teknaf Upazila, Cox's Bazar by Joules Power Limited (JPL) and 3 MW Grid-connected PV Power Plant at Sharishabari in Jamalpur by Engreen Sharishabari Solar Plant Ltd, owned by IFE-CPC-JEL Consortium -- went into operation. Imran Chowdhury said the Chinese mother company has launched Sungrow Renewable Energy Bangladesh Limited (SREBL) as a new company to work as IPP project developer beyond its current job of EPC contractor to make a significant contribution to National Solar Energy Roadmap Up To 2041. He said Sungrow now offers different technologies and solutions -- solar-plus energy storage solution (ESS), power plant by lithium-ion battery, floating solar power plant, solar fishery power plant, ground-mounted solar power plant -- for the Bangladesh market. Reead Nasrul urges RMG owners: Go solar for low cost, tax break The study, titled 'National Solar Energy Action Plan 2021-2041', was conducted by the Sustainable and Renewable Energy Development Authority (Sreda) in collaboration with the United Nations Development Programme (UNDP). Meanwhile, the country’s Power System Master PLan (PSMP) has set a target to reach the renewable energy’s share to 10 percent of total power generation capacity (2470 MW) by 2021 -- a major focus was supposed to be on exploiting the potential of solar energy to achieve the goal. But available data shows the country now has the generation capacity of 20,595 MW from conventional sources while power from renewable sources is lagging far behind at 700.61 MW, which is around 3 percent of the total generation capacity. Read: Nasrul urges RMG owners: Go solar for low cost, tax break The Sustainable and Renewable Energy Development Authority (Sreda) show that among different renewable energy sources, PV solar leads the sector with 466.68 MW generation capacity, while it is followed by hydro with 230 MW capacity, 2.9 MW from wind, 0.63 MW from Bio-gas and 0.4 MW from Biomass. Energy experts say that Bangladesh is far behind Pakistan and India, among its South Asian neighbors, in utilising renewable energy resources for electricity generation. The PSMP stipulates for 35 percent power generation from imported LNG (liquefied natural gas), some 35 percent from imported coal, 15 percent from renewable energy, 10 percent from nuclear energy and five percent from petroleum oil by 2041, when the country’s generation will reach 60,000 MW, the officials added. Read Sreda, BGMEA sign deal for rooftop solar power promotion in RMG sector