Bangladesh has announced a new $2 billion investment to expand solar power generation as part of its effort to reduce dependency on imported fossil fuels. The initiative aims to add 4,000 MW of solar energy to the national grid by 2030.
Prime Minister Sheikh Hasina inaugurated several solar parks in Rajshahi and Khulna, saying that renewable energy is key to Bangladesh’s sustainable growth. Officials said the new projects will provide power to over 10 million people.
Regional experts believe the plan will also benefit neighboring India, which shares an energy grid with Bangladesh, by improving cross-border energy trade.
The move comes at a time when South Asia faces growing electricity demand and fluctuating global fuel prices. The World Bank and Asian Development Bank have shown interest in financing portions of the project.
