Dhaka, Aug 24 (V7N) – The Center for Policy Dialogue (CPD) has said that Bangladesh will require massive investment to achieve its renewable energy targets in the power sector.

The observation came at a discussion titled “NDC 3.0: Future Targets”, held Sunday morning (August 24) at the BRAC Center Inn in Mohakhali, Dhaka.

According to the CPD’s study, Bangladesh’s electricity demand is projected to reach 30,000 MW by 2040. To meet this growing demand, the country will need to set up new power plants with a combined capacity of around 35,000 MW, ensuring that at least 30 percent of the supply comes from renewable sources.

The estimated investment requirement to reach this target is between $35 billion and $42 billion. The study identified solar and wind power as the main sources that can drive the country’s renewable energy transition.

The CPD also emphasized the importance of creating an enabling environment for investors by focusing on:

  • Legal obligations and regulatory reforms,

  • Accessing international climate and energy financing, and

  • Promoting regional power trade.

Speakers at the discussion noted that without significant and timely investment, Bangladesh risks falling short of its commitments to both national energy security and global climate goals.

END/SMA/AJ