Two ministries, the ministry of power, energy and mineral resources and the ministry of forest, environment and climate change, will work together to reach 40 percent electricity generation by 2041 with an estimated investment of USD$25 billion, said a top policy maker.
“I have already discussed about possible investment of $18 billion only for renewable power plants installation with ministry of forest, environment and climate change minister Saber Hossain Chowdhury after last cabinet meeting,” said state minister for power and energy Nasrul Hamid at a view exchange meeting on Wednesday.
The environment minister responded positively over the matter, he informed.
According to him, the government has already taken Mujib Climate Prosperity Plan to achieve the renewable energy target.
Nirod Chandra Mondal, joint secretary of renewable energy under power division, however, said Bangladesh has targeted to generate 24,000MW (megawatts) of electricity by 2041.
Of the generation target, we have achieved to generate 1200MW of electricity from renewable out of 26,504MW installed capacity, according to him.
“We have issued letter of intent (LoI) to generate 4000MW of electricity last six months….series of renewable power projects in pipelines,” according to him.
He added the government also taken decision to replace two lakh diesel fired irrigation pumps by 45,000 solar irrigation pumps.
Nirod Chandra Mondal said the government will require $25 billion to expand the renewable energy. Of them, $18 billion require for installation of the power plants and rest of transmission and distribution lines.
“We are showing the zero tolerance to cancel the LoI for those sponsors who are delayed to implement their projects,” the official said without elaborating details.
He said the solar based power plants tariff come down to Tk 9.87 per kilowatts hours under the latest negotiation.
