Sustainable Initiative Set to Transform Bangladesh's Energy Sector.
The European Union (EU), in partnership with the European Investment Bank (EIB), has signed agreements worth €400 million with Bangladesh. This transformative initiative is set to bolster Bangladesh's power sector, driving a sustainable green transition and helping the nation meet its climate mitigation targets.
The €400 million partnership will primarily focus on utility-scale solar photovoltaic and onshore wind projects, potentially incorporating battery energy storage systems. These projects are expected to bring an estimated 750 MWp of new renewable energy capacity to Bangladesh. Furthermore, the investment will enhance power distribution and decentralisation, ultimately improving national and regional connectivity and resilience.
The EU-Bangladesh collaboration signifies a powerful step towards a greener, more sustainable future for Bangladesh. This substantial investment will not only contribute to the nation's economic growth but also demonstrate the commitment of both the EU and Bangladesh to global sustainability. As the world grapples with climate change, this initiative paves the way for a brighter and more sustainable future for all.