Bangladesh Targets 40% Clean Energy by 2040 with US$22 Billion

---

Researched by Industrial Info Resources (Sugar Land, Texas)--Bangladesh is set to invest about US$22 billion to generate 24 gigawatts (GW) from renewable sources by 2040. This ambitious plan, revealed at the National Renewable Energy Conference and Green Expo 2024, is a significant part of Bangladesh's long-term strategy to overhaul its power sector and produce 40% of its power from clean energy.

Industrial info is tracking 41 renewable-energy projects, totaling US$3.5 billion of investment, across Bangladesh. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can click here for a list of detailed project reports and click here for a list of related plant profiles.

Bangladesh relies heavily on non-renewable resources, with natural gas and oil accounting for most of its electricity production. Currently, only about 2.93% of the nation's energy comes from renewable sources.

In addition to domestic generation, Bangladesh's roadmap aims to import 9 GW of renewable energy from neighboring countries. Financing this transition involves mapping out funding channels, leveraging both local and international resources, and utilizing competitive renewable energy procurement through auctions to lower tariffs and manage electricity generation costs.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).