Option for renewable energy

That the interim government's adviser for power, energy and mineral resources has sought the Swiss government's and business people's investment and technological assistance in Bangladesh's development, particularly in the area of transition to renewable energy is a focus more on the future than the immediate crisis facing this country. But it is nonetheless an issue every nation on the planet has to address today or tomorrow. As the adviser asked for cooperation at the time Swiss ambassador to Bangladesh Reto Rengli leading a delegation of his country called on the adviser at his office, the envoy also responded positively to the requests. That is quite assuring but it would be prudent to prioritise the areas of investment at a time the country is struggling with its economy. Investment in generation of power - be it fossil fuel-based or renewable - depends on energy policy a government pursues. After all, installation of any major power plants is a time-consuming affair before it goes into operation.

The interim government has to prioritise at this juncture plugging the legal loopholes in order to stop not only waste of money on the captive power plants under the Quick Enhancement of Electricity and Energy Supply (Special Provisions) Act, 2010 but also scrap the 'unplanned development projects' as he termed, in the power and energy sector. There is no scope for digressing from the main focus of saving every penny and making the most of the existing power generation facilities with no string attached. So the agreements with the captive power plants have to be scrapped and go for making the more economical power plants operational. The recently commissioned thermal power plants may be the right candidates for this. Since power is at the heart of industrial production and other engagements of modern life, the fossil fuels have to be managed at any cost. The good news is that prices of fuel oils in the international market have plunged further now.

Economising momentum has to be sustained as long as the country substantially regains its economic health and only then a transition to renewable energy options can be seriously entertained. To do so, the first thing ought to be formulation of a sound energy policy after the model of the most advanced nations in the renewable types. Eleven countries right now are leading the pack. Those include Latin American countries such as Costa Rica, Uruguay, African countries like Kenya and Morocco apart from the more advanced Nordic -Switzerland is, however, missing from the list - and two West European countries the United Kingdom and Germany. There is only one Asian country China which traditionally is the largest carbon emitter but at the same time the world's renewable energy leader. China hosts nearly half of the world's wind and solar power capacity and is all set to attain its 2030 ambitious target of producing 1,200 gigawatts (GW) five years ahead of schedule.

Naturally, Bangladesh has the easier option of approaching to China, which has been involved with various mega projects in this country, for technological assistance. Chinese products and technology are suitable for the needs here because those are comparatively cheaper and easily replicable. The chief adviser, in fact, voiced the need for such cooperation earlier in his meeting with the Chinese ambassador. In the renewable energy sector, transfer of Chinese technology should get priority for yet another reason. It is the biggest investor in this sector worldwide.