Govt urged to prioritize renewable energy to address power crisis

A recent study by Gazprom and Bapex has identified a potential gas resource in Bhola, Bangladesh, estimated to be up to 5.109 trillion cubic feet (tcf). This includes a recoverable 2.423 tcf from Shahbazpur to Elisha and an additional 2.686 tcf from Char Fasson.

The interim government is considering issuing additional bonds to alleviate the Bangladesh Power Development Board's (BPDB) significant unpaid dues to private power producers. BPDB's total unpaid bills amount to approximately Tk42,000 crore, with Tk7,000 crore owed to independent power producers (IPPs). The remaining dues include Tk17,000 crore for gas bills, Tk10,000 crore for state-owned power plants, and Tk8,000 crore for Indian entities like the Adani Group.

Prime Bank has signed an agreement with Miura Bangladesh to provide exclusive banking benefits to the company's employees. Under the agreement, employees will have access to preferential services, including credit card and loan facilities. Additionally, Miura Bangladesh will utilize PrimePay, the bank's digital portal, to automate salary payments and conduct corporate transactions 24/7. The signing ceremony took place at Prime Bank's corporate office, with representatives from both organizations in attendance.

Energy & Power of Bangladesh’s interim government has requested Swiss cooperation in renewable energy and advanced technology sectors. During a meeting with Swiss Ambassador the adviser invited Swiss businesses to invest in Bangladesh's development projects. He highlighted recent efforts to ensure transparency and accountability in the power and energy sector and emphasized the need for comprehensive development beyond just power plants. 

Controversies surrounding the Adani power deal have resurfaced, but less attention has been given to the SS Power plant, owned by a private Bangladeshi group, despite its high costs. In FY 2023-24, SS Power's capacity was only utilized at 21%, yet it incurred a Tk 3,288 crore capacity charge. Ramphal Power Plant, with 24% utilization, faced a Tk 2,237 crore charge. Other plants like Barishal Electric (30%), Payra (65%), and Adani’s (61%) also reported high capacity charges, with Adani costing Tk 5,392 crore. Overall, five coal-based plants incurred Tk 15,686 crore in capacity charges.

Customs-related irregularities have been uncovered in Bangladesh's power imports from India's Adani Group, with officials bending legal procedures to evade significant taxes.  Since April 2022, Bangladesh has imported power from Adani's 1,600MW coal-fired plant in Jharkhand without obtaining necessary tax-exemption orders. No bill of entry has been submitted to customs for these imports, raising concerns. An independent body has been formed to scrutinize the power deal following allegations of inflated tariffs.