Germany and the Delegation of the European Union (EU) have jointly launched the ‘Team Europe Initiative on Green Energy Transition’ in Bangladesh.
It aims at supporting Bangladesh to build a power system that leads to maximum coverage of the country’s energy demand through renewable energy. It also intends to reduce CO2 emissions, energy consumption and demand through energy efficiency.
State Minister for the Ministry of Power, Energy and Mineral Resources Nasrul Hamid welcomed this European initiative at the launching event on Wednesday.
“We are reviewing our Power System Master plan so that, under the leadership of the Prime Minister, Bangladesh continues to keep its CO2 emissions to a minimum despite its tremendous economic growth. We are looking forward to implement our strategies with the support of the Team Europe Initiative,” he was quoted as saying in a statement.
Alongside with the ‘Team Europe Initiative on Decent Work’, it is one of two flagships of the international Team Europe approach, which provides strategic European responses to the challenges faced by Europe’s partner countries.
Rensje Teerink, Ambassador of the EU Delegation, highlighted the collective experience of Europe at the launching.
“The Team Europe Initiative on Green Energy Transitions draws on the wealth of Team Europe’s expertise in Renewable Energy. It pulls resources together and provides an opportunity to combine the most appropriate mix of implementing modalities to obtain maximum results. It shows that multilateralism works,” she said.
The current amount of activities of Team Europe Initiative on Green Energy Transition adds up to EUR 930.6million.
The portfolio of the Team Europe Initiative on Green Energy Transition comprises projects in the area of effective sustainable energy market, optimised grid infrastructure and renewable energy integration into the grid.
This holistic approach covers generation, transmission, distribution and utilisation, and it follows two main directions.
On the one hand, the progressive de-carbonisation of the energy sector and the greenhouse gas emissions’ reduction; on the other hand a universal access to affordable, reliable, sustainable and modern energy services.
“The Team Europe approach stands for impact, innovation and overall coherence. It sends a strong message of European partnership and solidarity. It supports a sustainable recovery from the devastating impact of the pandemic,” Ambassador of Germany Peter Fahrenholtz said.