Govt urged to frame CPPA policy to promote green energy
FE REPORT | Tuesday, 5 March 2024
Speakers at a discussion on Monday urged the government to formulate Corporate Power Purchase Agreement (CPPA) policy to let them contribute to green energy.
They, however, stressed the need for making partnerships among government, private sector and advocacy groups.
They came up with the observations and recommendations at a panel discussion titled "Greening the Grid" at the Grameenphone's corporate office in the capital.
The Grameenphone held the discussion in pursuit of bridging the policy gap and advocating for CPPA policies to achieve its climate target.
The discussion aims to promote policy reforms concerning CPPAs in Bangladesh, essential for supporting Grameenphone's goal of reducing CO2 emissions by 50 per cent by 2030, from the baseline year 2019.
Lawmaker Nahim Razzaq, convener of Climate Parliament Bangladesh, Erik Solheim, former minister for Environment and International Development of Norway, Espen Rikter-Svendsen, ambassador of Norway to Bangladesh, ED Elrahal, chief of Party at Tetra Tech, USAID-BADGE Project, Engineer Mohammad Hossain, director general at Power Cell Bangladesh and Hans Martin Hoegh Henrichsen, chief corporate affairs officer of Grameenphone, addressed the programme as panelists. They highlighted the importance of the CPPA policy.
Mr Henrichsen said they are committed to reducing carbon emissions from its operations. He emphasised the essential role of CPPAs in achieving this objective.
He also addressed the challenges faced by private sector entities in implementing this model, while also emphasising the advantages of supportive policies, such as attracting foreign direct investment (FDI) and assisting in meeting the government's renewable energy targets.
He also highlighted how ESG is vital for achieving the Paris Agreement's objectives by promoting sustainability and cutting down carbon emissions.
Mr Erik Solheim shared insights from Norway's grid greening experience and explored international best practices for Bangladesh to glean from in its transition towards renewable energy sources.
Ambassador Espen Rikter-Svendsen emphasised the significance of international partnerships in bolstering Bangladesh's efforts to green its grid while also discussing Norway's readiness to aid in this transition.