State Minister for Power, Energy and Mineral Resources Nasrul Hamid has said the government is encouraging investment in power and energy sector.
"A policy guideline for the private sector has been drafted and through this, the national grid can be use on commercial basis," he told a session of Asia Pacific Ministerial Roundtable virtually.
The roundtable on 'Progress and Opportunities for Attracting Private Investment over the Next Five Years for their National Energy Transition' was organized by ESCAP and Sustainable Energy for All.
The state minister said that the Power and Energy Division has been ensuring security of investment and providing 15 years tax waiver along with import-duty reduction facilities for attracting investments in power sector.
"Sustainable and Renewable Energy Development Authority (SREDA) has been giving logistic and technical assistance for expansion of the renewable energy," he added.
"A plan has been taken to attract investments amounting to $50 billion for the next 12 years and the sector has already got $12 billion in the last decade," he said.
Currently, 44 percent of power is being generated by private sector in Bangladesh, Nasrul said, adding, "Five out of eight under construction renewable power plants have been owned by the private sector. And agreement was signed for setting up 10 more power plants in the private sector."
He said that the National Solar Energy Roadmap 2021-2041 was drafted. "Clean energy has been given importance under Mujib Climate Prosperity Plan and Integrated Energy and Power Master Plan," he added.
"Recently, 29 companies have expressed interest in power generation from various sources of renewable energy. Offshore wind, green hydrogen, floating solar, waste to electricity, solar rooftop, etc will add new dimension for expansion of renewable energy," Nasrul said.
Chief Executive Officer of Sustainable Energy for All Damilola Ogunbiyi, Executive Secretary of UN ESCAP Armida Salsiah Asijabana, Indian Electricity and Renewable Energy Minister Raj Kumar Singh, Indonesian Power, Energy and Mineral Resources Minister Arifin Tasrif, Member of the Planning Commission of Nepal Dr Surendra Labh Karna and Mikaele Belena of Fiji's director of energy affairs delivered their speeches virtually.