Aug 28, 2019 – Bangladesh has established a $400 mln joint venture with a Chinese company to build 500 MW of renewable energy projects, including 50 MW of wind projects, until 2023, Reuters reported citing an official government representative.
The joint venture was set up by China National Machinery Import and Export Corporation (CMC) and local North-West Power Generation Company (NWPGC).
Natural gas is presently the main energy source in the country, and the reserves are rapidly depleting. Bangladesh currently produces only 25 MW of solar energy. The country has set the goal to produce 10% of the total energy portfolio from renewables by 2021.