Dhaka: Key stakeholders from the government, private sector, and financial institutions have called for policy reforms, innovative financing, and unlocking investments to accelerate Bangladesh’s energy transition. They convened at a high-level roundtable discussion hosted by Standard Chartered Bank to address the challenges and opportunities in accelerating renewable energy adoption in the country.
According to Bangladesh Sangbad Sangstha, Power, Energy and Mineral Resources Adviser Dr. Muhammad Fouzul Kabir Khan emphasized the nation’s move from subsidies and inefficiencies to a new era of transparency and accountability in energy. He highlighted the need for an estimated $3.5 to $4 billion annually in transition finance to achieve net-zero emissions by 2050.
Bangladesh Bank Governor Dr. Ahsan H Mansur stressed the importance of renewable energy as the way forward for Bangladesh. He noted that financial viability and structural reform are crucial for sustainability. He advocated for a policy to reduce costs and a collaborative approach to overcome challenges. By engaging international partners, Bangladesh can develop a sustainable energy sector that benefits both investors and consumers.
Naser Ezaz Bijoy, CEO of Standard Chartered Bangladesh, acknowledged the need to fast-track the energy transition. He referenced the Opportunity 2030 report, which highlights the need for $74 billion in private investment in Bangladesh’s power sector to ensure affordable and sustainable energy for all.
John Murton, Senior Sustainability Advisor at Standard Chartered, reiterated the bank’s commitment to mobilizing sustainable finance. He outlined their efforts in leveraging expertise in blended finance, carbon markets, and green bonds to unlock private investment in renewable energy.
The discussion included participants such as Farzana Mamtaz, Secretary, Power Division; Chen Shaolei, Managing Director, HDFC Sinpower Limited; and many other prominent figures from various sectors. They emphasized the need for collaboration and strategic reforms to meet ambitious energy goals.
Policymakers shared insights on advancing the Merchant Power Policy to enable direct electricity sales, expanding Net Metering, and developing Solar Parks to reduce investor risk. The private sector highlighted the importance of Power Purchase Agreements, fair pricing, and robust dispute resolution frameworks to build confidence.
The participants agreed that major recommendations from the workshop would be submitted to Bangladesh Bank and the Ministry for consideration and implementation.