He was speaking at a seminar as chief guest in Kathmandu on Friday
State Minister for Power and Energy Nasrul Hamid said that cross border electricity trade through regional cooperation will play a pivotal role in the development of the SAARC (South Asian Association for Regional Cooperation) region.
He was speaking at a seminar as chief guest in Kathmandu on Friday, according to a statement, reports UNB.
The state minister was on a visit to the Himalayan nation where Dhaka and Kathmandu signed a Memorandum of Understanding (MoU) to enhance cooperation in the power and energy sector between the two neighbouring countries.
The Bangladesh Embassy in Nepal organized the seminar on Power Sector Cooperation between Bangladesh and Nepal in association with Energy Development Council of Nepal and Independent Power Producers Association, Nepal.
Hamid said the SAARC network agreement for energy cooperation was signed while BIMSTEC has been working to enhance the regional cooperation among its member countries.
He mentioned that Bangladesh needs an investment of $80 billion for generating 60,000 MW by 2040 to meet the energy demand.
In this regard, he said, US company GE has already signed deals to invest $2 billion while European company Siemens $15 billion, middle-east nations $1 billion, Japan $6.6 billion and China $7.5 billion.
“Prompt decision, capacity charge and investment security have attracted this huge investment,” he said.
The state minister said Bangladesh government has a “Power System Master Plan 2016” where a mix of fuel will play an important role in resolving the country’s power crisis.
As per the plan, Bangladesh will generate 35% electricity from coal, 35% from gas, 10% from renewable, 11% from cross border trade, 6% nuclear and 3% from hydropower and other sources.
Nepal Board of Investment Chief Executive Officer Maha Prasad Adhikari said Bangladesh can invest in hydropower projects in Nepal to generate some 8000 MW of electricity.
The seminar was also addressed by Chief of the Executive Committee of Nepal Energy Development Council Kushal Gurung, President of Independent Power Producers Association, Nepal Shailendra Guragian and Bangladesh Ambassador in Nepal Mashfi Bint Shams.
Semanta Dahal, member of the Nepal Energy Development Council, conducted the seminar.