Bangladesh Needs $1.7 Billion a Year for Green Energy Transition
- Funds needed until 2041 to generate 40% from renewables: IEEFA
- IEEFA Says faster transition will reduce heavy subsidy burden
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Bangladesh requires as much as $1.71 billion annually over the next 18 years to move away from expensive fossil-fuel imports and generate 40% of its electricity from renewable sources, according to the Institute for Energy Economics and Financial Analysis.
The investment required for enhancing renewable energy capacity is lower than the power sector’s growing $2.82 billion government subsidy in the 2021-22 fiscal year, which is nearly 152% higher than the previous year, according to a report released on Wednesday by the US-based think tank.