Bangladesh, Australia explore renewable energy cooperation
Bangladesh and Australia are exploring opportunities for investment, technology transfer and joint ventures in the country’s renewable energy sector, with solar power, battery energy storage and rooftop solar emerging as key areas of cooperation.
A four-day visit by an Australian clean energy delegation from October 24 to 27 involved a series of meetings and discussions with government agencies, private-sector organisations, investors and energy-sector stakeholders to explore business opportunities in Bangladesh.
The Bangladesh Sustainable and Renewable Energy Association (BSREA) disclosed the developments at a press conference held at the Dhaka Reporters Unity in the capital on Tuesday, the final day of the visit.
The visit was organised under the local coordination of BSREA, with support from the Renewable Energy Council Asia-Pacific (RECAP), the Smart Energy Council and Austrade.
Speaking at the press conference, BSREA President Mostafa Al Mahmud said that recent policy support from the government, rising awareness of renewable energy, and active participation from stakeholders in both the public and private sectors have created a positive environment for expanding renewable energy in Bangladesh.
He called for a comprehensive legal and regulatory framework covering different renewable energy technologies and business models.
Mahmud said rooftop solar, solar irrigation, floating solar power, onshore and offshore wind power, waste-to-energy, battery storage and carbon credits should be brought under effective policy frameworks.
The association also emphasised transparency in project selection and procurement, reliable power purchase agreements, effective grid connectivity and better coordination among government agencies involved in project approvals.
The limited availability of affordable, long-term financing remains a major challenge for renewable energy projects, according to BSREA.
High upfront investment costs, elevated interest rates, complex banking procedures and short loan repayment periods often discourage investment, it said.
To address these constraints, the association called for greater coordination among international development finance institutions, multilateral development banks, climate funds, domestic banks and financial institutions to expand access to low-cost, long-term financing.
On October 24, the Australian delegation met with Chowdhury Ashik Mahmud Bin Harun, chairman of the Bangladesh Investment Development Authority (BIDA), to discuss foreign investment opportunities in renewable energy, the investment climate and the policy and institutional support needed to attract investors.
The following day, an orientation briefing on Bangladesh’s clean energy market was held at a hotel in Dhaka. Discussions covered the country’s power and renewable energy sectors, policies, project opportunities, financing, rooftop solar and battery storage.
BSREA also organised a seminar and business networking session on the same day, attended by Mohammad Sanaul Haque, additional secretary of the Power Division, as the chief guest.
John Grimes, chief executive officer of RECAP, Scott Hamilton, its deputy chief executive officer, and Mostafa Al Mahmud, president of BSREA, were among the participants, alongside representatives of relevant public and private-sector organisations.
Business discussions between companies from the two countries focused on solar power projects, battery storage, technology transfer, local manufacturing and potential joint investments.
On October 26, the delegation attended a seminar titled ‘Renewable Energy, Carbon Emission Reduction and Energy Transition’, organised by the Australia Bangladesh Chamber of Commerce and Industry (ABCCI).
