The draft renewable energy policy published early this month offers limited scope for renewable energy expansion and is deviated far from the goal of ensuring energy security by reducing fossil fuel dependence, said energy experts.
The draft renewable energy policy published early this month offers limited scope for renewable energy expansion and is deviated far from the goal of ensuring energy security by reducing fossil fuel dependence, said energy experts.
Bangladesh’s renewable energy policies suffer from a lack of coordination and clear direction, creating uncertainty for investors, said experts at a press conference.
Bangladesh’s energy transition came to an abrupt stop with the country’s interim government struggling to find investors in renewable energy projects. After assuming power following the fall of the Awami League regime amid a mass uprising in July-August, the interim government cancelled all 31 renewable energy projects in the pipeline with a combined capacity of over 2,600MW.
IEEFA is an independent energy finance think tank that examines issues related to energy markets, trends and policies. The institute’s mission is to accelerate the transition to a diverse, sustainable and profitable energy economy.
The richest nations, including the G-7 countries, are increasingly investing in fossil fuel projects in developing countries like Bangladesh, obstructing global carbon emission reduction targets, said a report released by US-based Global Energy Monitor on Tuesday.
A press release issued on the occasion of releasing the report said that the global solar and wind power capacity grew by one-fifth past year.
The richest nations, including the G-7 countries, are failing to uphold their commitments to global renewable energy expansion. Instead, they are increasingly investing in fossil fuel projects in developing countries like Bangladesh, obstructing global carbon emission reduction targets, according to a report by Global Energy Monitor (GEM).
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