Dhaka: The European Union (EU) today expressed its expectations for Bangladesh to increase its renewable energy usage by over 3% through a comprehensive restructuring of the country’s energy sector, while simultaneously promoting political stability via democratic elections. “We expect Bangladesh to increase its renewable energy use by more than 3%, reform its energy structure, and pursue political stability through democratic elections,” a senior EU official at its Dhaka office stated.
According to Bangladesh Sangbad Sangstha, during the inauguration of a renewable energy festival, Dr. Michal Krejza, the EU’s head of development cooperation and minister counselor in Dhaka, reiterated the EU’s commitment to aid Bangladesh in its green energy transition. The European Union had previously pledged EUR 1.3 billion in grants and loans to support Bangladesh’s ongoing and planned projects under the Team Europe Initiative Green Energy Transition (TEI GET), co-chaired by the EU and Germany.
The initiative, backed by countries such as France, Sweden, Denmark, The Netherlands, Spain, and Italy, aims to establish a power system in Bangladesh that maximizes renewable energy coverage and promotes energy efficiency. Krejza underscored the significance of regional energy connectivity to expand renewable energy infrastructure.
The Renewable Energy Fest 2025, hosted by the Bangladesh University of Engineering and Technology (BUET), seeks to develop a roadmap for a just and green energy transition through policy reform. The event, organized in collaboration with ActionAid Bangladesh and Just Energy Transition Network Bangladesh (JETnet-BD), was inaugurated by BUET’s vice chancellor, Professor Dr. Abu Borhan Mohammad Badruzzaman.
City Bank PLC’s additional managing director, M Mahbubur Rahman, and the chief executive officer of Infrastructure Development Company Limited (IDCOL) were among the notable attendees. The IDCOL chief emphasized the need to address tax issues as a significant barrier to promoting renewable energy, stating that tax reductions and low-interest financing are crucial for expansion.
The festival’s first day featured a session on Energy Awakening, chaired by ActionAid Bangladesh’s country director, Farah Kabir, who stressed the urgent need for expanded renewable energy sources to meet Bangladesh’s projected electricity demand of 58,410 MW by 2041. “Expanding renewable energy sources is now imperative,” she remarked.