State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said Bangladesh will welcome German investment in the renewable energy sector.
“If Germany comes forward with technology and financial support in grant or loan, Bangladesh will welcome it,” he said during his meeting with the German State Secretary and Special Envoy for International Climate Action of the Federal Foreign Office, Jennifer Lee Morgan, on the second day of the ' Berlin Energy Transition Dialogue 2024, held in Berlin of Germany on Wednesday.
He mentioned that Prime Minister Sheikh Hasina has set a target to generate 40 percent of Bangladesh's total electricity from renewable energy sources by 2040.
He said that Bangladesh needs huge investment for transition to renewable energy.
In a country of 180 million people, efficient infrastructure needs to be built to switch from fossil fuels to renewables and this needs a huge amount of money, he said.
Bangladesh expects financial and technical cooperation from developed countries to meet such targets, said the state minister.
He said,”We want to use Germany's experience in creating sustainable development and climate change tolerant conditions. Germany can help us expand wind power, hydropower and offshore wind.”
Germany's experience and cooperation will make a special contribution to achieving our goals in renewable energy, he added.
Nasrul Hamid hoped that the government-level dialogue with Germany in May next will increase the European nation’s participation in wind power and waste-to-energy production.
The state minister also said that Germany's cooperation in implementing Bangladesh's firm commitment to sustainable development will help build a sustainable and resilient future.
In the meeting Jennifer Lee Morgan said that reducing carbon emissions and creating a livable environment is a priority for Germany.
“We can work together to promote energy security and renewable energy", she said, laying special emphasis on mutual cooperation between the two nations.