Wind turbines silhouetted against a vibrant sunset, harnessing renewable energy from the wind

Future of Renewable Energy in Bangladesh | The First Offshore Wind Energy Project

By Naveed Al Razi -- 6 minutes read --
Dec 11, 23

" Bangladesh's Renewable Energy Revolution: Embracing a Sustainable Future with Global Partnerships "

Bangladesh's inaugural offshore 500MW wind energy project has received the official green light with the approval of the Danish government's $1.3 billion investment proposal. This significant stride in renewable energy marks a pivotal moment in Bangladesh's commitment to sustainable energy. The sanctioned project will undergo a comprehensive feasibility study, paving the way for increased renewable energy capacity in Bangladesh and contributing to the global shift toward cleaner and more sustainable energy sources.

Bangladesh's Step into Offshore Wind Energy

Situated along the coast, this pioneering initiative in renewable energy in Bangladesh aims to harness the abundant wind resources available over the Bay of Bengal. The project is a testament to Bangladesh's commitment to reducing its reliance on traditional fossil fuels and addressing the pressing concerns of climate change and energy security. By integrating cutting-edge technology and innovative engineering, this offshore wind farm is expected to significantly boost the nation's renewable energy capacity and set a precedent for future green energy projects in the region.

Key Stakeholders in the Development of Renewable Energy in Bangladesh

The groundbreaking offshore wind energy project, a milestone in renewable energy in Bangladesh, is receiving a significant boost through the involvement of two prominent Danish investment firms Copenhagen Infrastructure Partners (CIP) and Copenhagen Offshore Partners (COP). These firms, renowned for their commitment to renewable energy and sustainable development, have agreed to fund the project through a strategic partnership with Summit Power International, Bangladesh's largest independent power producer. Summit Power International, with its extensive experience in the energy sector in Bangladesh, serves as the ideal local collaborator for this ambitious project. Their expertise in managing large-scale energy initiatives ensures the effective implementation and management of the offshore wind farm.

The Danish firms is not only bringing substantial financial investment but also a wealth of knowledge and experience in offshore wind energy, a field in which Denmark is considered a global leader. This collaboration highlights the growing trend of international partnerships in the realm of renewable energy in Bangladesh. CIP and COP's involvement underscores their confidence in Bangladesh's renewable energy sector and their commitment to supporting environmentally sustainable projects globally. Furthermore, this venture is expected to have a ripple effect, encouraging more foreign investments in renewable energy in Bangladesh.

The financial investments for the offshore wind energy project will help overcome the significant capital challenges typically associated with renewable energy in Bangladesh. Offshore wind farms require substantial initial investment, mainly due to the cost of maritime installations and the technology needed to harness wind power at sea. However, the long-term benefits, including reduced greenhouse gas emissions and the creation of green jobs, make it a worthy investment. By combining Summit Power International's local expertise with the technological and financial resources of CIP and COP, this project is poised to set a new standard for renewable energy projects in Bangladesh and the broader South Asian region. The initiative contributes to Bangladesh's energy diversification and represents a crucial step in the global transition towards cleaner, more sustainable energy sources.

Creating Renewable Energy in Bangladesh

The commitment to achieve at least 12% of electricity from renewable sources is also aligned with the Sustainable Development Goals (SDGs), particularly SDG 7, which calls for affordable, reliable, sustainable, and modern energy for all. Bangladesh's pursuit of these goals through the expansion of renewable energy sources is not just about meeting a numerical target; it's about transforming the energy sector into a more sustainable, efficient, and environmentally friendly system. The integration of renewable energy, particularly through initiatives like offshore wind farms, offers several benefits. It reduces dependence on fossil fuels, which are not only environmentally harmful but also subject to volatile prices. Additionally, developing renewable energy infrastructure can spur job creation and technological innovation within the country.

Bangladesh's Aspirations for a Renewable Future

Bangladesh's current electricity generation capacity of 25,339 MW is a reflection of its growing energy demands and developmental strides. However, in the face of global environmental concerns and the pursuit of sustainable development, the country is setting ambitious targets for renewable energy in Bangladesh. The government's goal to source 10% of its electricity from renewable energy by 2025 is both a challenge and an opportunity in its journey towards a more sustainable and environmentally responsible energy mix. Currently, with only about 2% of its electricity generation capacity coming from renewable sources such as solar, hydro, and wind, Bangladesh has a considerable gap to bridge to meet its targets. This gap underscores the significance and timeliness of initiatives like the first offshore wind energy project. Such projects are not only crucial for increasing the renewable energy share in the national grid but also for setting a precedent for future renewable energy projects in the country.

In summary, the efforts to increase the share of renewable energy in Bangladesh's electricity generation capacity are not only crucial for meeting governmental targets but also for ensuring sustainable and environmentally responsible growth. The first offshore wind energy project represents a significant step in this direction, providing a model for future renewable energy initiatives in Bangladesh and contributing to the global effort to combat climate change.