The government has prioritised renewable energy like solar and wind power since assuming office, Power, Energy and Mineral Resources Minister Iqbal Hasan Mahmood said Thursday.
The ministry has been acting accordingly in line with instructions from Prime Minister Tarique Rahman, he said.
Speaking at the inaugural ceremony of the Power, Energy and Infrastructure Expo at the Bangladesh-China Friendship Conference Centre in Dhaka, the minister said the country remains significantly behind its regional neighbours in renewable energy development, while pledging sweeping policy support to accelerate the growth of solar power.
India and Pakistan have already expanded their use of solar and wind energy to reduce dependence on fossil fuels, whereas Bangladesh has lagged behind for many years, he lamented.
Bangladesh, however, is now ready to move forward with solar energy, said the minister, adding that the biggest challenge is policy support.
Mr Mahmood revealed that a committee has been formed under the Prime Minister's directive to accelerate renewable energy development. The committee has already held meetings and prepared the foundation of a new policy framework.
"If the government can provide the right policy support, a revolution in this sector will be possible," he added.
Drawing comparisons with Bangladesh's garment industry boom in the 1980s, the minister said policy measures such as bonded warehouse facilities and back-to-back letters of credit introduced under former President Ziaur Rahman had transformed the country's apparel sector. Similar incentives for solar power, he argued, could rapidly expand the renewable energy industry.
He said the government is working on a simplified framework for importing key solar equipment, including inverters, frames and photovoltaic panels, making it easier for entrepreneurs to install solar systems.
Particular emphasis is also being placed on battery storage technology, he said, noting that electricity generation during daylight hours alone would not be sufficient to meet evening peak demand.
The government is also considering measures to reduce the tax burden on renewable energy investors in an effort to make solar projects more commercially viable.
The minister said a new renewable energy policy is expected to be finalised this month and approved by the cabinet by June before being issued as an official government order.
Bangladesh is targeting the generation of 10,000 megawatts of renewable electricity over the next five years, he added.
The minister also outlined plans to expand rooftop solar generation across Dhaka and other cities. Under the proposal, private investors would be able to install solar panels on commercial and residential rooftops and supply electricity directly to building owners. Bills would then be adjusted through a net metering system at the end of each month, while building owners would also receive a share of the revenue.
He said the initiative could create a profitable market for investors while easing pressure on the capital's electricity supply.
Around 140 companies and organisations from 12 countries are participating in the exhibition, said Rashedul Haque, Managing Director of the organising company Exponet Exhibition.
Among those attending the event were Muzaffar Ahmed, Chairman of the Sustainable and Renewable Energy Development Authority; Md Shafiul Alam Uzzal, President of the Bangladesh Elevator, Escalator and Lift Importers Association; Mostafa Al Mahmud, President of the Bangladesh Sustainable and Renewable Energy Association; M Azizur Rahman, Chairman of the Forum for Energy Reporters Bangladesh (FERB); and Mostafa Kamal, Editor of Khaborer Kagoj.
Organisers said the exhibition would continue until Saturday. The three-day expo is showcasing products, technologies and services related to power, energy, construction and infrastructure development. The FERB is serving as the event's media partner.
Alongside this event, Dhaka Industrial Packaging Expo is being held at the same venue, jointly organised by the Bangladesh Flexible Packaging Industries Association.
Six special sessions are also being held, initiated by the Dubai International Chamber, Export Development Bureau, and Business Promotion Council.
This exhibition is a platform for business networking, knowledge exchange, investment collaboration, and technology-driven development.
Participating organisations are presenting their products, technologies, services, and innovative solutions, while also engaging directly with potential buyers, investors, engineers, project implementers, and policymakers.
The exhibition is sponsored by RR Cable, Bright Powertech, and Run Power Engineering.
Azizjst@yahoo.com
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