Source: IEEFA

How much Bangladesh needs annually to reach its 2041 target

The country wants to increase its renewable energy capacity to 40%, IEEFA said. 

Bangladesh will need between US$1.53b to US$1.71b annually from 2024 to 2041 to reach its 40% renewable energy capacity target, an analyst estimated. 

In a report, the Institute for Energy Economics and Financial Analysis (IEEFA) noted that this is less than the power sector’s fiscal year 2021-22 subsidy burden. 

“Bangladesh’s electricity generation model appears unsustainable without a clear transition pathway. Therefore, policymakers should raise their renewable energy targets and reflect the same in the upcoming Integrated Energy and Power Master Plan (IEPMP),” author Shafiqul Alam, Energy Finance Analyst, IEEFA, said.

“The government should also translate the renewable energy policy target into a year-wise action plan backed by a monitoring mechanism to track progress.” 

Read more: Cleaner energy could save Bangladesh from the cost of gas imports

The report finds that high prices of fossil fuels and resultant increased power generation costs have led to a surge in the subsidy required by the country’s power sector. 

For FY2021-22, the subsidy reached Bangladeshi Taka (Tk) 297b (US$2.82b), nearly 152% higher than FY2020-21 and a whopping 301% higher than FY2019-20.


Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Summit Power International provides vital LNG support to Bangladesh
Without cross-border electricity supply, LNG is needed by a country facing geographical constraints to deploy renewables.
PLN focuses digital processes on equitable electricity distribution
State-run firm’s president succeeded in electrifying 76,900 villages and sub-districts throughout Indonesia.
VOX POP: How can vehicle-to-grid technologies boost energy transition?
Vehicle-to-grid (V2G) technology is seen as a groundbreaking innovation towards the resilience of the power grid and the improvement of robust energy transition.