Govt Targets to Generate 40% Renewable Electricity by 2041

Experts at a recent seminar emphasized Bangladesh’s urgent need for a long-term financing roadmap to expand renewable energy and achieve net-zero carbon emissions by 2050. They highlighted the necessity for monetary policies that encourage commercial lenders to invest in renewables.

Pran-RFL Group, a leading industrial conglomerate in Bangladesh, is entering the solar energy sector to produce renewable energy. The group plans to generate 100 megawatts of electricity at its integrated agricultural farm in Moulvibazar, with funding from the International Finance Corporation (IFC), a World Bank Group institution.

Electricity Generation Company of Bangladesh (EGCB) is moving forward with plans to set up a 220MW solar power plant in Sonagazi, Feni district, expanding on its existing 75MW solar plant. The company has already conducted a feasibility study and is now inviting consultancy firms to perform a grid impact study.

The government has approved, in principle, the establishment of a Ground Mounted Solar PV project with a capacity of 100-200MW at the National Special Economic Zone (NSEZ) under a Public-Private Partnership (PPP) model.

North-West Power Generation Company, a BPDB enterprise, is set to develop an 80MW solar power plant in the Padma Bridge project area, aligning with the government’s renewable energy vision. The company signed a 30-year lease with Bangladesh Bridges Authority (BBA) for 180 acres in October 2024, with land handed over the same month.

LONGi Green Energy Technology Co Ltd, a Chinese solar giant, is exploring investment opportunities in Bangladesh’s renewable energy sector, with a particular focus on solar energy. Jason Zhao, Senior Manager at LONGi, expressed interest in establishing an office in Dhaka to provide high-efficiency solar modules for power generation and collaborate on Bangladesh’s renewable energy goals.