State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said that green energy transition needs coordinated initiative and major investment.
“The developed world, including Europe, is moving towards renewable energy. We also need to increase the use of renewable energy,” he said while addressing “2024 Policy Dialogue on Sweden-Bangladesh Partnership in Renewable Energy within the RMG Sector” at a hotel in Dhaka recently.
The Swedish Embassy, Swedish Energy Agency and Sweden-Bangladesh Business Council jointly organized the event.
The state minister said, in sync with the changing world, Bangladesh is also working to expand and increase the use of renewable energy.
“Efforts to provide clean electricity to businesses are continuing through net metering systems, rooftop solar, import of hydropower, and increased use of energy efficient appliances,” he added.
He said the Power Division has already developed a structure of draft on 'Corporate Power Purchase Agreement (CPPA)' to supply electricity generated from renewable energy to factories including the apparel industry. Initially such CPPA will be signed with some factories on a pilot basis.
Under the CPPA, renewable energy will be used round the clock which will require high storage capacity, he said, adding, in that case, costs of electricity will go up due to the use of the storage facility.
“Finally, we need to move to a smart grid. There should also be a policy on these additional costs and technology costs,” he observed.
Among others, Head of Delegation of the European Union to Bangladesh Ambassador Charles Whiteley, Ambassador of Sweden to Bangladesh Alexandra Berg von Linde, Chairman of Bangladesh Power Development Board (BPDB) Md. Mahabubur Rahman and Country Manager of H&M Ziaur Rahman spoke on the occasion.
