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EU announces Tk 9,378cr support to build renewable energy system

Published : Thursday, 24 June, 2021 at 12:00 AM  Count : 411
Special Correspondent

The European Union (EU) member countries on Wednesday announced a EUR 930.6 million (around Tk9378.7 crore) support to build a power system for maximum coverage of the country's energy demand through renewable energy.
Of the amount, 88 percent (TK 800 crore) would be provided as loan for the project titled 'Team Europe Initiative Green Energy Transition (TEI GET)' to develop an effective
sustainable energy market and optimize grid infrastructure and renewable energy integration into the grid.
The rest of the amount will come as grant.
Welcoming the virtual launching event, the State Minister for Minister for the Ministry of Power, Energy and Mineral Resources Nasrul Hamid said, "We are looking forward to implement our strategies with the support of the Team Europe Initiative."
 "We are reviewing our Power System Master plan so that, under the leadership of the Prime Minister, Bangladesh can continue to keep its CO2 emissions to a minimum," Nasrul Hamid said.
Bangladesh is targeting to produce 10 percent of its total demand from the renewable sources.
The TEI GET in Bangladesh has been launched alongside with the Team Europe Initiative on Decent Work. It is one of the two flagships of the international Team Europe approach, which provides strategic European responses to the challenges faced by Europe`s partner countries.
Taking part in the discussion Rensje Teerink, Ambassador of the EU Delegation, highlighted the collective experience of Europe. Rensje said, "The initiative on Green Energy Transitions draws on the wealth of Team Europe's expertise in Renewable Energy."
"It pulls resources together and provides an opportunity to combine the most appropriate mix of implementing modalities to obtain maximum results," she remarked.
This holistic approach of EU will cover generation, transmission, distribution and utilisation and it follows two main directions. On the one hand, the progressive decarbonisation of the energy sector and the greenhouse gas emissions' reduction and n the other hand a universal access to affordable, reliable, sustainable and modern energy services.
"The Team Europe approach stands for impact, innovation and overall coherence. It sends a strong message of European partnership and solidarity. It supports a sustainable recovery from the devastating impact of the pandemic," Ambassador of Germany Peter Fahrenholtz said.
In Bangladesh, the Team Europe initiative on Green Energy Transition is co-chaired by Germany and the Delegation of the European Union (EU).





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