Nov 19, 2024
| UNB News
Speakers at a discussion said South Asian countries including Bangladesh need $625 billion over the next six years to triple the renewable energy capacity.
South Asia has a total installed power capacity of 524.3 GW, with India leading at 446.2 GW, followed by Pakistan (41.9 GW), Bangladesh (28.1 GW), Sri Lanka (5 GW), and Nepal (3.1 GW) while most countries have achieved nearly universal electricity access, quality remains a pressing issue, they said.
The above information came from a discussion on “Pathways to tripling renewable energy in South Asia” on Tuesday in Baku, Azerbaijan hosted by Shakti Foundation, Coastal Livelihood and Environmental Action Network (CLEAN) and Friends of the Earth.
Renewable energy constitutes only 9.9% of the region’s energy mix, with most electricity still generated from coal (67%) and fossil gas (6%). By 2030, South Asia aims to install 552.7 GW of renewable energy.
Shifting to distributed renewable energy systems could reduce these costs by up to 50% while empowering communities and reducing the burden on national grids, they said.
South Asia, home to 1.93 billion people (27% of the global population), stands at a critical moment in its renewable energy transition.
Despite its vast resources, the region’s average per capita electricity consumption is only 656 kWh, which is 74% less than the developing Asia average and 80% below the global average.
Environment adviser Syeda Rizwana Hasan, said, “To increase the renewable energy target, we need the right political vision and effective economic modeling. Otherwise, we will continue making excuses, such as a shortage of land. For instance, 16,000 acres of land were allocated for developing export processing zones (EPZ), while only 10,000 acres would have sufficed for renewable energy needs.”
“The former government failed to keep up with market dynamics, relying heavily on import-driven energy rather than leveraging domestic resources. It neglected to explore natural opportunities for discovering more gas fields in Bangladesh, conducted no feasibility studies for exploration, and prioritized importing LNG and coal instead,” she added.
Bangladesh has started importing hydropower from Nepal and is exploring additional hydropower opportunities from Nepal and Bhutan through India, she siad. “If we establish a regional transmission system, renewable energy from solar and wind can also be integrated efficiently.”
Hasan Mehedi from CLEAN, Bangladesh said "South Asia must leverage its vast solar and wind resources through regional cooperation. A regional renewable energy grid could help countries share resources and achieve climate targets collectively."
Imran Ahmed of Shakti Foundation highlighted said "Women are central to future prosperity of Bangladesh. Empowering displaced women through entrepreneurial training has already added 360 MW of clean energy through 6 million solar home systems in Bangladesh. Community engagement will ensure ownership and sustainability."
Vidya Dinker from GrowthWatch, India, called for decentralized energy systems. She stated "India’s push for private-sector nuclear energy overlooks the potential of decentralized renewables to power rural communities. A transition from fossil fuels to renewables is critical for human rights and environmental justice."
M Zakir Hossain Khan from Change Initiative said, "South Asia has 600 million people without access to energy and receives only 1% of global climate finance, with 60% of it being debt. High-risk nations like Nepal, Bhutan, and Sri Lanka cannot bear such costs. The focus should shift to smaller projects of 50-200 MW and sub-regional grids instead of large-scale initiatives. Transparent, low-cost investments through public-private partnerships are essential.
Carbon markets are risky, and new coal plants must stop per the Paris Agreement. Public finance must prioritize community-led systems to ensure resilience without relying solely on insurance."
News Link: Bangladesh, other SA nations need $625 bln to triple renewable energy capacity