Renewable energy entrepreneurs are concerned about their investments following the interim government’s decision to cancel 31 letters of intent for clean fuel electricity projects and call for new tenders. These letters represented about $5 billion in proposed green energy investments, with $200 million already spent on land and other project-related expenses.
The interim government’s adviser on power, energy, and mineral resources confirmed that new tenders will be issued for these projects, leading to uncertainty for foreign and domestic investors. Entrepreneurs fear that fresh tenders could deter previous investors and delay project implementation by at least a year, potentially leading to frustration and discouragement.
The Bangladesh Sustainable and Renewable Energy Association (BSREA) has requested a review of the decision and sought a meeting with the Chief Adviser to discuss the impact on ongoing projects. The interim government has also formed a national committee to review energy agreements made under the Quick Enhancement of Electricity and Energy Supply Act. The scrapped projects include solar, wind, and waste-to-energy initiatives, which could have added 2,678MW to the national grid and helped address power shortages.
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