Volume 22 ISSUE 02

Download Link for Energy & Power Vol 22 Issue 02 (July 1, 2024) as PDF/userfiles/EP_22_02.pdf

Bangladesh is actively participating in global decarbonization efforts, aiming to increase renewable energy generation which currently stands at around 1000MW. Despite a rise in grid-connected capacity to 27,054MW over the last 15 years, only 3% comes from renewable sources like solar, wind, and hydroelectricity. The government is targeting a significant expansion, with several projects under construction and planning, potentially boosting renewable capacity to 8,738MW. Globally, fossil fuels still account for 81.5% of energy, despite a slight reduction over the past decades. The International Energy Agency highlights the need to double the current $2.0 trillion annual investment in green energy to achieve net-zero emissions by 2050. At COP28, a global commitment was made to triple renewable energy use and double energy efficiency by 2030. However, concerns remain over the lack of a clear plan for phasing out fossil fuels. Bangladesh aims to contribute 40% clean energy to its energy mix by 2041 and plans to generate 17,000MW of solar power by 2050. The nation faces challenges due to unplanned expansions and a lack of a properly integrated power grid, risking financial stress from uncoordinated renewable energy growth. A comprehensive, integrated approach is necessary to stabilize and advance Bangladesh's power sector towards sustainable development.

The country must adopt a coordinated and strategic approach to renewable energy expansion, focusing on well-planned, integrated projects to avoid financial and operational pitfalls.

Cover Photo: Sirajganj 68MW Solar Park of Bangladesh-China Renewable Energy Company (Pvt.) Limited

For E_BOOK:  https://enp.tiny.us/July1Y24

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