DCCI seeks US investment in renewable energy

DCCI seeks US investment in renewable energy

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President of Dhaka Chamber of Commerce and Industry (DCCI) M Sabur Khan on Saturday urged the US entrepreneurs to invest in Bangladesh’s renewable energy sector.

He made the call during a meeting on ‘sustainable energy for all initiatives’ between the DCCI and the visiting US government mission at DCCI auditorium in the city.

Sabur Khan said Sustainable Energy for All Mission (SE4ALL) can play a vital role in mobilising foreign investment in the renewable energy sector of Bangladesh.

“Bangladesh government has initiated a Power and Energy Sector Development Roadmap (2010-2021) which has targeted to produce 20,000 MW power by 2021,” Sabur Khan said.

He said it is very important to ensure energy security in Bangladesh for its economic development and industrialisation. About 16 percent of global final energy consumption now comes from renewable resources and the demand for renewable energy is increasing day by day in Bangladesh, he added.

The delegation was led by Deputy Assistant Secretary of State for Energy Transformation of USA Dr Robert F Ichord.

Dr Ichord said US companies are willing to invest in the energy and renewable energy sector of Bangladesh and stressed the need for modernising policy framework under PPP model in order to ensure better enabling environment for investment in renewable power sector. “The Bank of America is willing to provide US$ 50 billion to support this sustainable and renewable energy sector,” he added.

DCCI senior vice president Nessar Maksud Khan, vice president Absar Karim Chowdhury, directors ASM Mohiuddin Monem, Khairul Majid Mahmud, Haider Ahmed Khan, Rizwan-ur Rahman, M Abu Hurairah, Kh Shahidul Islam, Hossain A Sikder, Alhaj Abdus Salam and Shoaib Choudhury, among others, spoke at the meeting.

State Department Energy Bureau (State/ENR), USA, Molly Ward, Financing Consultant for State/ENR, USA, Elizabeth Wallace, SE4ALL Consultant for State/ENR Pat Delaquil, US Department of Energy Francesca Costantino, and Economic and Commercial Office of US Embassy in Dhaka Alexander Gazis were also present. UNB

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