Scaling up waste to energy

Scaling up waste to energy

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Dr Atiur Rahman
Congratulations to IFC and the Royal Danish Embassy for this Launch Ceremony of ‘Waste to Energy Scale Up Project’, which is their joint effort in demonstrating a sustainable business model for generating renewable energy from farm wastes.
Waste-to-energy (W2E) is an important concept for any efficient waste management system. Turning waste into environment friendly energy benefits the society in numerous ways, such as, generating revenue and long term employment, securing energy supply for the future, reducing greenhouse gas emission, and most importantly, contributing towards developing a green economy. A range of output can be produced through waste-to-energy facility, such as, electricity, cooling, steam for industrial processes, and desalinated seawater. Residual waste, which cannot be recycled economically or environment friendly, can therefore be easily turned into valuable local sources of energy.As inscribed in the Outline Perspective Plan, we aspire to achieve high, sustained, and inclusive economic growth, which is environmentally sustainable. As part of it, Bangladesh Bank (BB), the central bank of the country, has been instilling socially responsible financing ethos in the entire banking community, with multi-pronged financial inclusion and green initiatives. For some years now, BB has therefore been promoting financing of energy efficient ‘green’ products, along with providing regular policy support.
You will be happy to know that Bangladesh Bank has, so far, identified and included 47 green products in its refinancing scheme to accelerate financing of green initiatives. BB has created a Taka 2 billion revolving fund to support innovative green projects, such as, solar home system and irrigation pumps, solar PV module assembly plants, bio-gas and bio-fertilizer plants, solar mini grids, solid and liquid waste management, and so on. BB has also extended financing support to the set up a world class ‘Platinum’ rated textile unit in Dhaka. These are not only contributing towards reducing reliance on non-renewable energy sources but also promoting environment friendly production options, which is crucial for attaining a low carbon economy.
We understand that financial assistance is required to accelerate energy production from poultry litter, which has emerged as an important source of energy in Bangladesh. Accordingly, BB has been providing several refinancing facilities for waste management. A national tax credit is also available for electricity generation from poultry litter. In future, green power premiums, renewable portfolio standard credits, and greenhouse gas credits may also be applicable to this sector. Collectively, these incentives would help greater electricity production, given massive availability of poultry litter in our country.
I appreciate the joint effort of IFC and the Royal Danish Embassy in establishing a knowledge hub at the Bangladesh Agriculture University (BAU), which aims to ensure market linkages between multiple parties, such as, private businesses and the knowledge centers; and organic fertilizer companies and poultry or dairy farms. I believe our knowledge and experiences, along with financial support from the business and financial leaders will facilitate implementation of the W2E projects. Finally, let me congratulate IFC, the Royal Danish Embassy, Dhaka and other involved again for their innovative thoughts in initiating this energy efficient project, which is running towards a huge success.
(Speech of Dr. Atiur Rahman, Governor, Bangladesh Bank , delivered at the launch of ‘Waste to Energy Scale Up Project’ of IFC for Poultry Waste to Electricity Generation Projects in Bangladesh on Sunday)

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