SECTORS:

EXTERNAL NEWS

Bangladesh Looks To Beijing To Speed Its Solar Ambition
09 Jun, 2020

Bangladeshi power minister Nasrul Hamid has said the government has invited China to accelerate the renewable energy ambitions of the South Asian nation because private sector investors were not driving forward solar deployment fast enough.

Welcoming the decision to form a joint venture (JV) between state-owned entities from each nation which will drive 450 MW of new solar capacity and a 50 MW wind farm, Hamid said lack of local investment meant solar power projects still cost $0.10-0.13/kWh in Bangladesh despite marked falls elsewhere in the world.

Bangladesh’s highest decision-making body, the cabinet committee, on Monday approved a joint venture which will see the host nation’s North-West Power Generation Company Limited supply land for clean energy generation. Chinese engineering contractor the National Machinery Import and Export Corporation will invest an estimated $500 million in developing the planned solar and wind facilities, via the new Bangladesh-China Power Company (Pvt) Ltd Renewables entity.

Source: https://www.pv-magazine.com/2020/06/09/bangladesh-looks-to-beijing-to-speed-its-solar-ambition/