- The Chinese government will invest $500 million in helping Bangladesh develop 500 MW of grid connected renewable energy capacity by 2022
- 450 MW of solar power capacity will be developed in Pabna, Sirajganj and Gaibandha regions; wind turbines will be used to set up remaining 50 MW
- Bangladesh will be required to provide land for these projects to the joint venture Bangladesh-China Power Company (Pvt.) Limited Renewables
By 2022, Bangladesh will have 500 MW of renewable energy generation capacity coming from $500 million that China will invest in the Asian country. The China National Machinery Import and Export Corporation (CMC) entered into a memorandum of understanding (MoU) with North-West Power Generation Company Limited of Bangladesh (NWPGCL) to this effect.
While the official statement from CMC doesn’t go into details of the arrangement, Bangladesh’s local daily The Business Standard (TBS) reports this 500 MW comprises 450 MW of solar and 50 MW of wind power capacity. Solar parks will be developed in the northern districts of Pabna, Sirajganj and Gaibandha. For Pabna, the project capacity will be 60 MW and for Sirajganj it will be 100 MW.
According to the MoU, the two entities will set up a joint venture called Bangladesh-China Power Company (Pvt.) Limited Renewables to execute the projects. While Bangladesh will provide land for the projects, investment will pour in from China for all this capacity to be grid connected between 2021 and 2022.
The support from China comes close on the heels of Saudi Arabia’s Alfanar committing to develop two solar projects of 50 MW each as a joint venture partner with the Electricity Generation Company of Bangladesh in March 2019 (see Saudi Support For 100 MW Solar In Bangladesh).
TBS adds that government has taken up a considerable number of renewable energy projects adding up to a total of 1.5 GW, but out of this only 4 projects of 38 MW have been completed till date. The total renewable energy generation capacity of the country stands at over 500 MW. Bangladesh has a total of 18 GW of electricity generation capacity. The government aims to generate 10% of the total electricity from renewable sources by 2020 and aims for 6 GW of renewables by 2041.