Saturday, June 15, 2024

How Bangladesh’s Renewable Energy Sector Can Attract Chinese Overseas Investment: Addressing the Challenges

In the field of renewable energy development, there is a large gap between Bangladesh and China. In 2022, China was far ahead in renewable energy utilisation, while Bangladesh was ranked 187th out of 196 countries. For developing countries such as Bangladesh, China’s experience in renewable energy is a lesson to be learned. In the past 40 years, China has made an amazing comeback from being a laggard in renewable energy to becoming a global champion. As of June 2023, China’s installed non-fossil energy generation capacity reached 51.5 per cent of its total installed capacity. It constituted 1.39 billion kilowatts and represents an 18.6 per cent increase from the previous year. Breaking down the non-fossil energy capacity, it was observed that hydropower was 420 million kilowatts, wind power was 390 million kilowatts and solar power was 470 million kilowatts (China Electricity Council, 2023). China has been able to successfully embrace renewable energy thanks to a well-developed legal system, the building of institutional capacity, and the utilisation of advanced technologies. Overall, China’s success in developing renewable energy is worthwhile for Bangladesh to learn from, and most importantly Bangladesh needs to attract Chinese investment in renewable energy sector.

Authors: Khondaker Golam Moazzem and Mashfiq Ahasan Hridoy
Publication Period: March 2024

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