At the upcoming 29th Conference of Parties (COP29) in Baku, dubbed the “climate finance COP”, representatives of different countries should deliver key decisions to design policies and regulations and offer institutional support that encourages banks to lend more to the renewable energy sector, said a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA). The note analyses global renewable energy investment trends and projected gaps to meet the goal of tripling renewable energy capacity by 2030 from 2023. It finds by reorienting capital from the fossil fuel sector to renewable energy, banks can bridge the International Energy Agency’s projected annual investment gap of US$400 billion from 2024 to 2030. “With only six years remaining, the 2030 goal for renewable energy seems a stretch too far, but enhanced cooperation between developed and developing countries and conducive local policies may bridge the gap,” says the note’s co-author Vibhuti Garg, Director – South Asia, IEEFA. “Negotiators at COP29 in Baku should back their ambition to triple renewable energy up with a consensus on additional climate finance, supported by the developed countries, to fill the gap of catalytic funds in the developing and least-developed countries,” she adds. The note finds that under different estimates, global investment in renewable energy has been growing, highlighting the attractiveness of renewable energy among investors. It rose from the range of US$329 billion - US$424 billion in 2019 to US$570 billion - US$735 billion in 2023, implying a jump of 73% - 78% during this period. However, the average annual investment to attain the goal of tripling renewable energy will require between US$1 trillion and US$1.5 trillion from 2024 through 2030. As such, the average funding gap between 2024 and 2030 will reach US$400 billion per annum. Read: New climate finance goal must empower small-scale farmers: IFAD President “While bank credit flows to the fossil fuel sector is declining, it was still a whopping US$967 billion in 2022. On the flip side, low-carbon development projects, including renewable energy, received US$708 billion in the same year. By reorienting more capital to the renewable energy sector, banks can bridge the projected investment gap,” says the note’s co-author, Shafiqul Alam, Lead Analyst – Bangladesh Energy, IEEFA. The note highlights several ways to encourage banks to change, like prioritising lending for renewable energy, offering banks credit enhancement support, integrating climate change into banks’ policies, interoperability of green taxonomies, making financed emissions disclosures mandatory and monetary policy tools.“Governments can create partial credit risk guarantee instruments to reduce credit risk, encouraging banks to accelerate credit flows to the sector. Multilateral Development Banks (MDBs) and bilateral financial institutions, with support from local governments, can provide risky and concessional capital to local banks and help create partial risk guarantee instruments,” says the note’s co-author Labanya Prakash Jena, Consultant – Sustainable Finance, IEEFA. Read: Govt, UNDP, IIX to launch “Orange Bonds" for inclusive growth and climate action Besides, the central bank can use moral suasion to nudge commercial banks to increase capital flows toward the clean energy sector while moving away from thermal power plants.

The Centre for Policy Dialogue (CPD) has outlined key measures Bangladesh should adopt to attract Chinese investment in its renewable energy sector. These include offering tax incentives, reducing import duties, and streamlining documentation processes. T The recommendations were presented by Dr. Khondaker Golam Moazzem, Research Director at CPD, during an event in Dhaka on Thursday, where experts discussed strategies to increase Chinese involvement, particularly in solar energy projects. The event, organized in collaboration with the Bangladesh-China Renewable Energy Forum, brought together policymakers, industry leaders, and financial experts to discuss strategies to draw overseas investment into renewable energy, particularly solar power projects. CPD urges interim govt to form independent 'Banking Commission' to ensure transparency Dr. Moazzem’s presentation, titled "Overseas Investment in the Renewable Energy Sector: How to Attract Chinese Investment in Bangladesh?", emphasized the need for green bonds and public-private joint ventures to fund renewable energy initiatives. He pointed out that Bangladesh's interim government recently canceled 37 renewable power plants approved under the previous regime, creating a fresh opportunity for Chinese investment. CPD also noted that Bangladesh’s government has decided to establish 10 grid-connected solar power plants through private sector initiatives, which could serve as a significant test case for Chinese involvement. Bangladesh has set ambitious targets to meet 40% of its energy needs through renewable sources by 2041. Achieving this will require an estimated investment of $1.5 to $1.71 billion, the CPD reported. China, the world’s largest investor in renewable energy, has already invested around $676 billion in clean energy in 2023 alone—accounting for 38% of the global total. This positions China as a crucial partner in helping Bangladesh meet its energy goals. Chief Adviser of the interim government, Prof Muhammad Yunus, had earlier urged Chinese Ambassador to Dhaka, Yao Wen, to consider relocating some of China's solar panel manufacturing facilities to Bangladesh. During the recent visit of the Chief Adviser to the UNGA, Chinese Foreign Minister Wang Yi indicated that China wants to invest in solar panels in Bangladesh and deepen trade and economic ties. Today’s event featured prominent figures from both the public and private sectors. Among the speakers were Md. Abdur Rahman Khan FCMA, Chairman, National Board of Revenue (NBR); Chowdhury Liakat Ali, Director, Sustainable Finance Department, Bangladesh Bank; Md. Ariful Hoque, Director General, Bangladesh Investment Development Authority (BIDA); Syeda Afzalun Nessa, Head of Sustainability, HSBC; Md Shahidur Rahman, Country Manager, Jinko Solar Bangladesh; Shafiqul Alam, Lead Energy Analyst, Institute for Energy Economics and Financial Analysis (IEEFA); and Gan Peng, Chairman, Chint Solar (Bangladesh) Co. Ltd. Dr Fahmida Khatun, Executive Director, CPD, moderated the event.  

The state-owned Bangladesh Power Development Board (BPDB) has failed to float an open tender for setting up 10 grid-connected solar power plants in the private sector, despite a top-level decision by the Power Division as part of renewable energy promotion. “The officials concerned have not been able to complete their preparations to float the tender, even though the decision is being given the utmost priority by the interim government,” said a source wishing anonymity. Earlier, the Power Division directed the BPDB to float the tender for the development of 10 grid-connected solar power plants in the private sector, each with a capacity of 50 MW, totalling 500 MW. Sources said the move came against the backdrop of the interim government’s decision not to sign any further contracts under the Enhancement of Power and Energy Supply Act (Special) Act, 2010. As a result, the future of 34 proposed private-sector grid-connected solar power plant projects, for which the BPDB had previously issued Letters of Intent (LoI) under the previous Awami League government, has become uncertain. BPDB had selected these firms through the process of ‘unsolicited offer’ under the Speedy Enhancement of Power and Energy Supply Act (Special) Act, 2010. Under this law, the government can award the contract of a project to any private firm without a tender process. Energy experts have criticised this Special Act as the root cause of all corruptions and irregularities in the power and energy sector during the Awami League tenure. Read: BPDB likely to invite tender for setting up 10 grid-connected solar power plants They alleged that many underqualified private companies were awarded power plant projects, significantly increasing costs and contributing to an annual sector loss of Tk 70,000 crore. As a result, after the fall of the Awami League government in a mass upsurge, the Dr Yunus-led interim government assumed office and decided to suspend the law and not sign any further contracts under the Speedy Enhancement of Power and Energy Supply Act (Special) Act, 2010. The interim government’s Energy Adviser Dr Muhammad Fouzul Kabir Khan announced the decision soon after assuming office in the Power and Energy Ministry, saying that all future projects will be implemented through an open tender process. This decision, however, put the private sponsors, who pursued the 34 solar projects, in great difficulty as they had already spent huge amounts of money to procure land and secure the LoI. In such a situation, they expressed their interest to get these projects through a competitive bidding process and secure the contract through open tender. Read: BPDB to prepare position paper on its financial and economic condition within a week “We have decided to initially float a tender for setting up a good number of location-wise 50 MW solar projects. It will help those who have already procured land to get the project through a competitive bidding process,” Senior Secretary to the Power Division Habibur Rahman told UNB about 10 days ago. He said the government is trying to implement solar power projects as part of renewable energy promotion. The private sponsors will set up the plants at their own cost and the BPDB will purchase electricity from the private plants for a specific period of time. “The BPDB will soon float the tender for a number of grid-connected solar projects, each of 50 MW capacity. Mostly, those locations will be selected where power evacuation facilities are available with grid substations,” said the power secretary. He, however, did not provide details of the locations. Read more: Interim govt contemplating new bond issuance to clear BPDB’s dues with pvt power producers  A senior official of the BPDB mentioned that mainly the Independent Power Producer (IPP) Cell-1 has been working on preparing the tender document and site selection. Despite repeated calls over the mobile phone, Director of the IPP Cell-1 Shamsuzzoha Kabir did not respond to queries in this regard.

An ancient tree from India is now thriving in groves where citrus trees once flourished in Florida, and could help provide the nation with renewable energy. As large parts of the Sunshine State's once-famous citrus industry have all but dried up over the past two decades because of two fatal diseases, greening and citrus canker, some farmers are turning to the pongamia tree, a climate-resilient tree with the potential to produce plant-based proteins and a sustainable biofuel. For years, pongamia has been used for shade trees, producing legumes — little brown beans — that are so bitter wild hogs won't even eat them. But unlike the orange and grapefruit trees that long occupied these rural Florida groves northwest of West Palm Beach, pongamia trees don't need much attention. Pongamia trees also don't need fertilizer or pesticides. They flourish in drought or rainy conditions. And they don't require teams of workers to pick the beans. A machine simply shakes the tiny beans from the branches when they are ready to harvest. Terviva, a San Francisco-based company founded in 2010 by Naveen Sikka, then uses its patented process to remove the biopesticides that cause the bitter taste, making the beans suitable for food production. "Florida offers a rare opportunity for both Terviva and former citrus farmers. The historical decline of the citrus industry has left farmers without a crop that can grow profitably on hundreds of thousands of acres, and there needs to be a very scalable replacement, very soon," Sikka told The Associated Press. "Pongamia is the perfect fit." Read more: Every citizen should plant trees for quality life: Environment Minister What is the pongamia tree? The pongamia is a wild tree native to India, Southeast Asia and Australia. The legume is now being used to produce several products, including Ponova culinary oil and protein, which are featured ingredient in Aloha's Kona protein bars. The company also makes protein flour. The legumes also produce oil that can be used as a biofuel, largely for aviation, which leaves a very low carbon footprint, said Ron Edwards, chairman of Terviva's board of directors and a long-time Florida citrus grower. Turning a wild tree into a domestic one hasn't been easy, Edwards said. "There are no books to read on it, either, because no one else has ever done it," he said. Bees and other pollinators feast on the pongamia's flowers, supporting local biodiversity, Edwards said. An acre of the trees can potentially provide the same amount of oil as four acres of soy beans, he added. What's left after the oil is removed from the pongamia bean is "a very high-grade protein that can be used as a substitute in baking and smoothies and all kinds of other plant-based protein products," Edwards said. "There's a lot of potential for the food industry and the oil and petroleum industry." Read more: Superfoods: Worth the Hype? Why Florida? "We know pongamia grows well in Florida, and the end markets for the oil and protein that come from the pongamia beans — biofuel, feed, and food ingredients — are enormous," Sikka said. "So farmers can now reduce their costs and more closely align to the leading edge of sustainable farming practices." At a nursery near Fort Pierce, workers skilled in pongamia grafting techniques affix a portion of the mother tree to a pongamia rootstock, which ensures the genetics and desired characteristics of the mother tree are perpetuated in all of Terviva's trees. Pongamia vs. citrus Citrus had been Florida's premier crop for years until disease caught up with it starting in the 1990s with citrus canker and later greening. Citrus canker, a bacterial disease, is not harmful to humans, but it causes lesions on the fruit, stems and leaves. Eventually, it makes the trees unproductive. Citrus greening, also known as Huanglongbing, slowly kills trees and degrades the fruit, according to the U.S. Department of Agriculture. Greening has spread throughout Florida since 2005, devastating countless groves and reducing citrus production by 75%. The disease has spread to Louisiana, Texas and California. Hurricane Ian caused about $1.8 billion in damages to Florida's agriculture in September 2023, hitting the citrus industry at the beginning of its growing season. Disease and climate issues have also affected most of the world's top citrus-producing countries. For example, this year's harvest in Brazil — the world's largest exporter of orange juice — is forecast to be the worst in 36 years because of flooding and drought, according to a forecast by Fundecitrus, a citrus growers' organization in Sao Paulo state. But climate and disease have little effect on pongamia trees, the company's officials said. "It's just tough, a jungle-tested tree" Edwards said. "It stands up to a lot of abuse with very little caretaking." Pongamia also grows well in Hawaii, where it now thrives on land previously used for sugarcane. Read more: Superfood Moringa Powder: Know Its Health Benefits, Side Effects What are citrus farmers saying? John Olson, who owns Circle O Ranch, west of Fort Pierce, has replaced his grapefruit groves with 215 acres (87.01 hectares) of pongamia trees. "We went through all the ups and downs of citrus and eventually because of greening, abandoned citrus production," Olson said. "For the most part, the citrus industry has died in Florida." While the grapefruit grove was modest, it was common for a grove that size to be profitable in the 1980s and 1990s, Olson said. Edwards said farmers used various sprays to kill the insect that was spreading the disease. Eventually, the cost of taking care of citrus trees became too risky. That's when he decided to go a different route. "What attracted me to pongamia was the fact that one it can repurpose fallow land that was citrus and is now lying dormant," he said. "From an ecological point of view, it's very attractive because it can replace some of the oils and vegetable proteins that are now being generated by things like palm oil, which is environmentally a much more damaging crop." What about biofuel? In December 2023, Terviva signed an agreement with Mitsubishi Corporation to provide biofuel feedstock that can be converted into biodiesel, renewable diesel and sustainable aviation fuel. "Our partnership with Mitsubishi is off to a great start," Sikka said, noting that the company coordinates closely with Mitsubishi on tree plantings and product development and sales. "Terviva's progress has accelerated thanks to Mitsubishi's expertise and leadership around the globe on all facets of Terviva's business." What food products does pongamia produce? The research is ongoing, but Edwards said they have made really good graham crackers in addition to the table oil and other plant-based protein products, including flour and protein bars. Pongamia offers an alternative to soybean and yellow pea protein "if you don't want your protein to come from meat," he said.  

Australian Foreign Minister Penny Wong is scheduled to pay an official visit to Bangladesh on May 21-22 to strengthen their bilateral relationship with Bangladesh and find ways to boost cooperation for regional peace, prosperity and security. Issues related to promotion of trade and investment, sustainable and renewable energy production, Rohingya crisis, maritime security, technology transfer and free and open Indo-Pacific region are likely to be discussed during her visit, officials said here on Sunday. Penny Wong is likely to have a courtesy meeting with Prime Minister Sheikh Hasina apart from holding a bilateral meeting with her Bangladesh counterpart Hasan Mahmud, a senior official at the Ministry of Foreign Affairs told UNB. A small delegation including Deputy Secretary, South and Southeast Asia Group and Head of the Office of Southeast Asia, in the Department of Foreign Affairs and Trade Michelle Chan will accompany the Australian foreign minister, he said. The Australian minister is likely to visit the Rohingya camp during her visit to see the situation there. Bangladesh seeks Australia’s support in keeping the Rohingya issue alive globally with a view to the ultimate repatriation of the forcibly displaced Myanmar nationals sheltered in Bangladesh. Australia has a commitment to continue the humanitarian assistance for the Rohingyas and support Bangladesh in their repatriation effort. Wong was born in the Malaysian state of Sabah. Her family moved to Australia in 1976, when she was eight years old, and settled in Adelaide. The forthcoming visit by the Australian foreign minister demonstrates the country's growing interest in Bangladesh, an Australian diplomat told UNB. Earlier this month, Australian Prime Minister Anthony Albanese has said he looks forward to working with PM Hasina to strengthen the bilateral relationship and together contribute to regional peace, prosperity and security. US wants to rebuild trust between Dhaka and Washington leaving behind tension: Lu “As Indian Ocean nations, we share an interest in a region that is grounded in sovereignty, promotes the prosperity and security of our citizens, and addresses the threat of climate change," he said in a letter written to PM Hasina congratulating on her reelection in January. The Australian PM highlighted the importance of their partnership in promoting "peace, prosperity and security" in the Indian Ocean. He affirmed his support for growing bilateral and regional cooperation between Australia and Bangladesh. “We have many common interests in increasing our trade and investment, promoting human rights, cooperating on people smuggling and addressing the Rohingya issue,” Albanese wrote. Bangladesh and Australia have already signed a framework agreement to open newer trade and investment opportunities between the two countries. The Trade and Investment Framework Arrangement (TIFA), the first of this kind between Australia and Bangladesh in the last five decades, is expected to provide a platform for institutionalised economic interactions and open newer opportunities for trade and investment. In May last year, Australian Assistant Minister for Foreign Affairs Tim Watts visited Bangladesh. During the visit he said Bangladesh and Australia work closely together to promote their shared interests in regional peace and security, and have a growing trade and investment relationship. Lu in Bangladesh: Sets politics aside, tries to reach out to people Welcoming Bangladesh’s Indo-Pacific Outlook, he said Australia seeks a region where “no country dominates, and no countries are dominated,” and the country thinks building a region like that requires efforts by all countries in the region. “We welcome the Bangladesh government’s Indo-Pacific Outlook in that context. I particularly welcome the point in the Indo-Pacific Outlook that argues for an inclusive region,” Watts said while responding to a question from UNB in a group session at that time. Australia recently sent a defence advisor to its High Commission in Dhaka, and, reciprocally, they welcome a defence advisor from Bangladesh in Australia. From Australia's perspective, the defence adviser is a symbol of their "intention and willingness" to cooperate on defence matters. The two countries are scheduled to hold the 5th Foreign Office Consultation (FOC) in Australia next month, said an official. The 4th FOC was held in Dhaka in March last year. The two-way trade now stands at around $4bn, reflecting Bangladesh’s significant economic growth and its highly complementary commercial strengths Donald Lu highlights importance of adaptation; protection of coastal people

Prime Minister Sheikh Hasina on Monday (March 06, 2023) urged oil-rich Qatar to make investment in Bangladesh’s energy sector, especially in renewable energy. “We remain open to investment proposals in our infrastructures and logistics sectors. We believe there is scope for Qatari investment in the energy sector, including in renewable energy,” she said. The premier was addressing the Doha Investment Summit 2023 Titled ‘The Rise of Bengal Tiger: Potentials of Trade and Investment in Bangladesh’ held at Grand Ballroom of The St. Regis Doha. She mentioned that Bangladesh could benefit from Qatar’s expertise in offshore gas exploration and energy distribution system. Read more: PM Sheikh Hasina arrives in Qatar to join UN conference on LDCs She urged the business people from Qatar to look at certain thrust sectors in Bangladesh and invited a delegation of Qatari business people to visit the country soon. “I also urge the non-resident Bangladeshis based in Qatar to invest in Bangladesh. We need your participation in our nation-building efforts,” she said. PM Hasina said that Bangladesh’s bilateral relations with Qatar should be readjusted based on a mutually beneficial economic partnership as there are immense untapped potentials. “Bangladesh and Qatar are bound by strong brotherly ties and friendship. Our two nations need to reposition our ties based on a mutually beneficial economic partnership,” she said. Read More: PM in Doha: LDCs need 5 key support from dev partners She also put emphasis on setting up a Joint Committee on Trade and Investment and a Joint Business Forum to bring private sectors on a single platform. “Our two governments should work on setting up a Joint Committee on Trade and Investment. There should also be a Joint Business Forum to bring our private sectors on a single platform,” she said. She mentioned that Bangladesh’s agricultural growth also creates scope for cooperation in agro-processing industries, with buy-back arrangements to Qatar. “We have plans to set up three special tourism zones, where Qatar can engage in both real estate and hospitality sectors,” she said. Read More: PM meets Guterres in Doha, discusses Ukraine, Rohingyas The PM said that Bangladesh aspires to have at least ten Unicorns in ‘Smart Bangladesh’, and country’s vibrant start-up scene is ready to draw Qatari investment. In addition, she said, Qatari investors can consider portfolio investment in Bangladesh. “Bangladesh Securities and Exchange Commission is working hard to further develop our capital markets. We have taken several steps to establish our bond market on a solid footing. We are soon going to include derivative products in our capital markets,” she said. PM Hasina said that the disruptions in international fuel market due to the war in Ukraine have pushed countries like Bangladesh into a hard spot. Read More: Energy-rich Qatar faces fast-rising climate risks at home In order to meet the growing energy need, she said, Bangladesh is interested in increasing its LNG imports from Qatar. She also requested Qatar to explore opportunities for increasing import of goods from Bangladesh. She said that Bangladesh is now well on track to graduate from the UN LDC Group in 2026 which has been achieved by 168 million people through their hard work and commitment. She said that just before the pandemic, country’s economy reached a growth rate of 8.15 percent, and even during the pandemic, it posted a growth rate of 6.94 percent. Read More: PM urges South Korea for more investments in Bangladesh She said that Bangladesh is now the world’s 35th largest economy with a GDP of USD 460 billion while projected to become the 24th largest by the first half of the 2030s. “It was during my first tenure in 1996-2001 that our government fully opened up the door of trade and business for the private sector. Now our private sector is flourishing and our government is working as a facilitator. Together, we hope to take Bangladesh to the next level of development,” the PM said. Sheikh Hasina mentioned that Bangladesh has one of the most liberal investment regimes in the region. She mentioned that the incentives being offered include tax holiday, concessionary duty on machinery import, remittance of royalty, technical know-how and fees, allowing 100 percent foreign equity, unrestricted exit policy, full repatriation facilities of dividend and capital on exit, etc. Read More: Eswatini wants trade, investment promotion with Bangladesh “The Bangladesh Investment Development Authority (BIDA) is offering a number of services to foreign investors under one roof.” She mentioned that the government is setting up 100 Special Economic Zones with coordinated facilities and there are so far five country-specific Economic Zones in the making. “We are investing heavily in our infrastructures fit for a regional connectivity and logistics hub. Our mega-projects like the Padma Multi-purpose Bridge, the Karnaphuli river tunnel, the Matarbari Deep Sea Port, the expanded Third Terminal at Dhaka International Airport, the Rooppur Nuclear Power Plant, the Metro-rail system in Dhaka all testify to our determined march forward.” Hasina mentioned that the government has already brought the entire nation under electricity and internet coverage while country’s first communication satellite Bangabandhu-I has opened up new horizons. Read More: Bangladesh, South Africa discuss ways to boost trade and investment “We have a large pool of easily trainable workforce available at a competitive wage<” she said, adding “Bangladesh has got the world’s second largest community of registered IT freelancers.” She mentioned that Bangladesh has made big leaps in developing its digital backbone down to the remote areas. “Our boys and girls are preparing themselves to join the Fourth Industrial Revolution.” She said that the government is gradually building 38 Hi-tech Parks, with opening for foreign investment. She said that government’s vision now is to build a ‘Smart Bangladesh’ by 2041, drawing strength from a knowledge-based society. Read More: It is high time to work together on more projects, investment areas: Chinese Envoy “Bangladesh offers to be a willing partner in realizing the Qatar National Vision 2030. We can equip our workforce with knowledge and skills to cater to the advanced employment market in Qatar,” she said. She reaffirmed her commitment to fulfill Bangabandhu Sheikh Mujib’s dream of building a ‘Sonar Bangla’ and said that she is confident the Qatari leadership and people will continue to stand by Bangladesh as they did in the past decades. “I encourage our business peoples to keep adding new feathers to our excellent bilateral relations,” she said. Chairman of Bangladesh Securities and Exchange Commission Prof Shibli Rubayat Ul Islam and Executive Chairman of Bangladesh Investment Development Authority (BIDA) Lokman Hosaain Miah made two separate presentations focusing on potentials of trade and investment in Bangladesh. Read More: Bangladesh-Turkiye Business Forum launched to usher in new era of economic cooperation Bangladesh Securities and Exchange Commission and Bangladesh Investment Development Authority (BIDA) in partnership with the Foreign Affairs Ministry arranged the event.

Power secretary Habibur Rahman has said that the government is vigorously promoting renewable energy in the country’s power generation mix. “In our development endeavour, great importance is given to green energy,” he said while addressing as chief guest at 3-day International Conference on Energy and Power Engineering (ICEPE 2022) on November 24 at Brac Inn in the city. The Department of Electrical and Electronic Engineering (EEE) of the BRAC University organised the conference with the theme– “Green Energy for All.” Professor Vincent Chang, Vice Chancellor, BRAC University also joined the opening ceremony as the special guest. Read more:  The power secretary mentioned that the government is also willing to generate up to 40 percent of electricity from clean energy by 2041. He suggested the organisers of the conference share the proceedings of the conference with the Power Division, so that the government can take those into consideration while formulating future course of actions. Professor Vincent Chang, Vice-Chancellor of the university, said that the policy is relevant but any policy without the support of technological advancement will unlikely succeed. Anything contributing to improvement of energy technology perhaps can be more effective than many policies, he added. Read more: British High Commission Dhaka turns to renewable energy through solar panels Professor Md. Mosaddequr Rahman, chairperson of EEE Department and general chair pf the ICEPE 2022 delivered the opening remarks and professor Shahidul Islam Khan, technical chair of the ICEPE 2022 presided over the opening ceremony. Organized for the second time, ICEPE 2022 aimed at providing a platform to leading researchers, engineers and scientists in the areas of power and energy engineering. Eminent professors and experts from Bangladesh and abroad conducted panel sessions and keynote talks on power and energy related topics. The conference also called for papers from researchers nationally and internationally. Professor Saifur Rahman, 2022 IEEE President-elect and Dr. Nagaraja Ramappa, managing director at Power Research & Development Consultants Prv. Ltd, India attended the conference as the keynote speakers. Read more: Consultant submits final draft on review of renewable energy policy They spoke on the topics “Causes and Effects of Carbonization on the Climate: Decarbonization Opportunities in the Electric Power Sector” and “Integrated resource planning and power procurement optimization in a RE rich environment” respectively. Prof. Muhammad Fayyaz Khan, Vice Chancellor, Bangladesh University of Business & Technology, Bangladesh and Dr. Shaikh Fattah (SMIEEE, FIEB), Professor, Department of Electrical and Electronic Engineering and Director, Institute of Robotics and Automation, BUET (IRAB), Bangladesh University of Engineering and Technology (BUET) moderated the panel sessions in this conference. Professor Tareq Aziz, Ahsanullah University of Science and Technology, Professor Abdul Hasib Chowdhury, Professor, Dept. of EEE & Director, Institute of Nuclear Power Engineering and Mohammad Golam Sarware Kainat Joint Secretary, Posts and Telecommunications Division, Ministry Of Posts, Telecommunications and Information Technology attended as the panelists in the panel session. The best paper was awarded as the ‘Dr. Fatima-Rashid best paper award’ along with other certifications and prizes on the last day of the conference, said a press release of the Brac University.

British High Commission in Dhaka has activated solar panels in its office in an attempt to move to renewable energy and reduce carbon emissions. In partnership with SOLshare, a climate tech company, the High Commission has installed a 15.93 kilowatt per hour grid-tied rooftop solar project for its office. In other words, the High Commission on Sunday said, solar power will be offset against the High Commission’s electricity consumption from the grid. The solar panels will reduce carbon dioxide emissions by the High Commission by approximately 320 tonnes over its expected life of 30 years, and will produce approximately 18,000 kilowatt hours of electricity every year. read more: Bangladesh, Cyprus keen to expand cooperation on public safety British High Commissioner Robert Chatterton Dickson, who inaugurated the solar panels, said he is delighted to see that they are moving to green, renewable energy at the High Commission. He said electricity produced through renewable sources such as solar is critical to reducing their dependence on electricity produced by the burning of fossil fuels, which drives climate change. “The energy crisis and the global situation since the UN Climate Change Conference (COP26) hosted under the UK Presidency in November 2021 demonstrates that the rapid acceleration of renewable energy is not only essential to protecting the planet, but critical to the security of energy supply,” said the High Commission. Dr Sebastian Groh, Managing Director of SOLshare Limited, said, “We applaud the entire team of the British High Commission for taking this initiative.” Groh said it is important to walk the talk and it is good timing during COP27 to set an example for all other missions. “And this is just the beginning; we look forward to having further potential opportunities to support the British High Commission in their sustainability journey.” The green energy transition will help to meet bold climate commitments by accelerating transition to more affordable, reliable, and accessible energy that spurs growth, and reduces carbon emissions. Rooftop solar panels have been proven as one of the most effective renewable energy solutions for Bangladesh to meet its desired energy target and alleviate the present energy crisis. The British High Commission Dhaka said they are proud to be part of this change by contributing solar energy from its office rooftop.

Consultant of Sustainable and Renewable Energy Development Authority (Sreda) has submitted its final draft on reviewing the “Renewable Energy Policy of Bangladesh 2008” to make it more effective in the changed energy and power sector scenario. “We submitted the final draft prepared to revisit the renewable energy policy on Monday”, an official of the consultant firm– Development Technical Consultants Pvt. Ltd (DTCL), told UNB. Experts engaged in the review said the most emphasis was put on revisiting the existing policy targeting the government’s goal for 40 percent of electricity from renewable and clean sources by 2041. “Against the backdrop of land scarcity, use of rooftop of industries and urban establishments for solar power, solar-run irrigation pumps, floating solar, use of non-agricultural land, wind power potentials, biomass plants received the highest priory in the final draft of the revised policy”, said an expert involved in the process of the draft preparation, but preferred anonymity. “Hydrogen energy, net metering system, use of Opex and Capex models for large-scale solar plants are also the areas, which received important focus in the review of the policy”, he added. He also informed that a national workshop will be held on the final draft to get the feedback of the stakeholders and other relevant departments on the final draft prior to giving a final shape of the revised policy. Read: Renewable energy jobs rise to 12.7 million globally Official sources said, Sreda, the focal organisation under Power Division of the government, has moved to revise the 14-year-old existing renewable energy policy, REPB-2008, to meet a new perspective in the energy sector. They said the initiative came from the government as a follow-up of its statements to the 26th meeting of the United Nations Climate Change Conference (COP26), held in Scotland, United Kingdom, from October 31 to November 13 last year.  In the COP26 meeting, Prime Minister Sheikh Hasina in a written statement said: “We are also working for a more sustainable energy mix. We hope to have 40% of our energy from renewable sources by 2041”. She also said, “Recently we submitted an ambitious and updated NDC (Nationally Determined Contributions) to the UNFCCC. We have cancelled 10 coal-based power plants worth 12 billion dollars of foreign investment. Currently, as per Sreda statistics, the country generates about 911 MW (solar 677 MW, hydro 230 MW and others 2 MW) while the total power generation is more than 25,000 MW which shows the renewable energy’s share is less than 4 percent. The recent crisis in primary fuels for which the country is experiencing 4-6 hours load shedding is another reason behind the move, said a Sreda official. State Minister for Power, Energy and Mineral Resources Nasrul Hamid, recently at a function, said that among other options of renewable energy, solar power has huge potential for Bangladesh. But since it requires substantial land allocation, it needs an innovative solution. He also said Bangladesh is now promoting the options of rooftop and floating solar plants and a net metering system has been introduced to popularise the use of solar power. Read: Renewable Energy Goal: Industry insiders, experts favour “target-oriented roadmap” “There is a good opportunity to work on wind power as well,” he said, adding that wind mapping has been completed for 9 potential sites and feasibility will be conducted on the potential for offshore wind power. Private investors in the renewable energy sector welcomed the Sreda initiative to review the renewable energy policy and bring necessary amendments to promote non-conventional energy sources. Dipal Barua, president of Bangladesh Solar and Renewable Energy Association (BSREA), termed the initiative “time befitting.” He said despite a huge potential, the country could not utilise it due to lack of a proper action plan. Munawar Moin, Vice President of BSREA and President of Solar Module Manufacturers Association of Bangladesh (SMAB), said the government should introduce a policy under which the local solar industry could utilize its full potential. Cost of solar energy decreased substantially and has created a huge scope for investment in mega projects, he said.  

A move by the government to review a 14-year-old renewable energy policy has been lauded by experts and industry stakeholders as Bangladesh is desperate to find out alternative sources of power generation amid a volatile global fuel market and gas shortages at home. In the energy-hungry country, which is struggling to ensure energy security for its burgeoning manufacturing sector amid forecast that the economy could face further stress, experts say renewable energy sources could be a major option to ensure adequate supply to its industries. Industry insiders say the decision to revise the policy came as the government has a target to generate 40 percent of electricity from renewable energy by 2041 in line with its commitment to the COP26, a UN-backed climate conference held in Glasgow in November last year. The current crisis in the country’s power sector, stemmed from the rising prices of fuel as a result of Ukraine war, has also prompted the government to look for other options for energy. Also read: Renewable energy jobs rise to 12.7 million globally. According to official statistics, the country now generates about 911 MW (solar 677 MW, hydro 230 MW and others 2 MW) from renewable energy sources while the total power generation is more than 25,000 MW, which means the renewable energy's share is less than 4 percent. In June, the government suspended operations of all the diesel-run power plants in the country, cutting up to 1500 megawatts of daily production, to ease pressure on the country’s dwindling foreign currency reserves. Business bodies raised their concern about power disruptions. Earlier this month, BGMEA President Faruque Hassan said that the situation is so grave that factories are remaining without power now for around 4 to 10 hours a day. Talking to UNB, experts and officials say the move to revise the "Renewable Energy Policy of Bangladesh 2008" to make it more effective in the changed scenario in the country’s energy and power sector is very positive. Read: Govt working to revise renewable energy policy: Recent primary fuels crisis a reason But they say taking up “a target-oriented action with an effective roadmap” to achieve a power generation goal should find its way. They also strongly suggest that setting up of a separate division under the power and energy ministry to effectively implement the renewable energy schemes should be undertaken under the revised policy. “Unless a specific numeric megawatt-based target is set, any goal might not be achievable despite bringing any changes to the existing policy”, Dr M Tamim, eminent energy expert in the country, told UNB. Read Govt working to revise renewable energy policy: Recent primary fuels crisis a reason Officials say the Sustainable and Renewable Energy Development Authority (Sreda), the focal point under Power Division of the government, has already appointed a consultant. The consultant - Development Technical Consultants Pvt. Ltd (DTCL) – held a consultation meeting on September 20 as part of its process to accommodate opinions of the stakeholders and experts on the issue. The firm has also been holding a series of meetings with experts and other groups to finalise a draft proposal on the policy. Read Green Economy in Bangladesh: Prospects and Challenges Dr Tamim, who was also involved in the previous process of the policy formation, said there should be a specific numeric target instead of current percentage-based goal in renewable energy to implement a plan. “A specific target and an action-based roadmap are more essential than a policy to achieve a goal when it comes to the renewable energy issue”, he said adding that the government’s direct involvement with the process is crucial. To add dynamism, Tamim also suggested creating a new division, headed by a full-fledged secretary, under the power, energy and mineral resources ministry, to implement the government’s plan on renewable energy. Read Huawei Technologies intends to support RMG industry in renewable energy Identifying the scarcity of land a major impediment for a renewable energy project, Dr Tamim also suggested for arranging land for solar power projects by the government as it is difficult for a private sector investor to find an undisputed large piece of land in one location. “Only government can arrange a large undisputed land through acquisition”, he added. Echoing Dr Tamim, Dipal Barua, president of Bangladesh Solar and Renewable Energy Association (BSREA), said the government has to play a major role in facilitating private investors to invest in renewable energy. Read TEI GET to promote renewable energy in Bangladesh The neighboring India has a separate ministry --Ministry of New and Renewable Energy--to deal with the renewable and non-conventional energy issue, he said. “That’s why India has been in the leading position in South Asia with its current renewable energy capacity of 150,000 MW,” he said. According to official data, of India’s total 150,000 MW of renewable energy, solar is 48,550 MW, wind 40,030 MW, small hydro power 4,830 MW, biomass 10,620 MW, large hydro 46,510 MW, and nuclear 6,780 MW. India has a goal to generate 500 GW renewable energy by 2030. Read Why solar power investors are in no man's land Munawar Moin, Vice President of BSREA and President of Solar Module Manufacturers Association of Bangladesh (SMAB), said the government should introduce a policy under which the local solar industry could utilise their full potential. Cost of solar energy decreased substantially and has created a huge scope for investment in mega projects, he said. Sohel Ahmed, managing director of Grameen Shakti, a leading firm in renewable energy, founded by Nobel laureate Muhammad Yunus, said that the current Net Metering Policy could play a vital role in promoting rooftop solar power by “Opex Model” if the government effectively applies one of its provisions through which action could be taken against a defaulter customer by disconnecting his conventional electricity line. Read Bangladesh seeks IRENA’s support to explore renewable energy potential He also said if an insurance policy is introduced in Net Metering Rooftop Solar projects, it will give more confidence to investors to invest in rooftop solar plants. In solar power system, net metering allows residential and commercial customers who generate their own electricity from solar power to sell the electricity they are not using back into the national grid.