BPC Faces Dollar Crisis and $250 Million in Dues

Bangladesh, known for achieving nationwide power coverage, is now grappling with a severe power crisis. The country, which celebrated its milestone of bringing electricity to all corners just last year(2022), is experiencing an unprecedented load shedding of around 2,500 megawatts

A private initiative has successfully established the country's first floating solar power plant in Chapainawabganj Sadar. The power plant, located within a factory's pond, aims to generate electricity while also supporting fish farming. The project, funded by Jools Power Limited, has connected the generated electricity to the national grid.

The ongoing gas and electricity crisis in the country is causing significant disruptions in all types of industrial production, including cement, steel, ceramics, oil refining, sugar refining, garment manufacturing, and car assembly.

According to the Bangladesh Trade and Tariff Commission (BTTC), the price of crude soybean oil in Argentina has experienced a significant decline in the global market. On May 31, it was recorded at 847 US dollars per ton, compared to 1,970 dollars one year ago, indicating a decrease of approximately 57 percent. However, this decline in prices has not translated into benefits for consumers within the country.

The government of Bangladesh has witnessed a significant increase in subsidies and incentives provided to various sectors over the past five years, with expenditure quadrupling during this period. However, the calculation and disclosure of these subsidies have raised concerns among industry experts.

The IDCOL has financed Bangladesh's first large-scale grid-connected floating solar PV project, with a capacity of 784 kWp. The project utilizes artificial water bodies previously used for fish farming and aims to address land scarcity challenges while diversifying the energy mix and promoting decarbonization.