Minister of Power, Energy, and Mineral Resources, Iqbal Hasan Mahmood, has urged non-governmental organizations (NGOs) to invest in renewable energy, highlighting their crucial role in expanding solar power in rural areas.
He said increased use of solar energy would reduce fuel import costs, allowing the government to redirect savings towards development projects.
The minister was speaking at the 'Voice of Development' national workshop organised by the National Development Program (NDP) at the Bangladesh-China Friendship Conference Center on Monday.
Achieving 10,000 megawatts (MW) of renewable energy would significantly cut reliance on imported fuel, he said, adding the government has already introduced policies to support solar energy expansion.
The minister explained that NGOs could help extend rooftop solar power through cluster-based projects and benefit from net metering by selling electricity to recover investments.
He compared solar-powered irrigation systems to deep tube-well owners selling water to farmers, calling it a profitable model.
He added that financing would not be a major obstacle, as the World Bank and other development partners are keen to support renewable energy projects, while fossil fuel ventures are unlikely to receive funding amid global climate concerns.
Citing public interest, the minister mentioned a woman in Faridpur who produces biogas from livestock waste and supplies cooking gas to neighbours, underscoring the commercial potential of such grassroots initiatives.
He acknowledged that fuel imports have strained foreign currency reserves since the current government took office, while global conflicts have intensified energy security challenges.
Declining domestic gas supplies have forced Bangladesh to import more liquefied natural gas (LNG), increasing subsidy burdens.
Slamming the previous government, Mahmud said it failed to exploit offshore energy resources despite maritime boundary gains, while neighbouring countries advanced in coastal gas extraction.
Bangladesh still remains at the exploration stage, he lamented.
To encourage investment, the government has offered tax benefits on solar panels and batteries.
The energy minister urged NGOs to move away from grant dependency and adopt business-based renewable energy projects using international financing.
"Why depend on aid? Take funds, invest, run businesses, and repay," he suggested and urged the NGOs to seize tax holiday opportunities in solar, biofuel, and other related sectors to boost rural economies and strengthen their own financial standings.
Azizjst@yahoo.com
