The interim government is struggling to pay the power bill arrears that were caused largely by "unfair" contracts signed between the previous administration and power producers, and rising international fuel prices.

A risk of higher budget deficit looms as the government is set to commit to paying off all the accumulated power-sector dues by this fiscal yearend during a third review of the current IMF loan package next month.

Shares in Indian billionaire Gautam Adani's conglomerate sunk again Friday after US charges alleging the tycoon paid more than $250 million in bribes to secure lucrative government contracts rattled investor confidence.

Adani Power’s energy pricing has been a controversial issue in Bangladesh; in February 2023, Bangladesh Power Development Board had written to Adani Power seeking revision of prices

The Energy and Mineral Resources Division approached the Planning ministry to exempt five vital gas exploration and development projects from the mandatory third-party feasibility study requirement.

The government division reasoned that rapid exploration of gas will help to reduce dependency on imported liquefied natural gas (LNG).

The interim government on Wednesday approved two hard-term credits worth US$260 million to invest in power transmission, road and terminal development, officials said.

The Standing Committee on Non-Concessional Loans (SCNCL) of the government approved the loans at its meeting at the Economic Relations Division (ERD), with Finance Adviser Dr Salehuddin Ahmed in the chair.

Speakers at the UN’s annual climate change conference in Baku, Azerbaijan have urged the countries to increase investment in renewable energy in the Global South.

The call was made during a session titled ‘Just Energy Transition in the Global South: Challenges for Tripling Renewable Energy by 2030’ on Tuesday.

Speakers at a discussion said South Asian countries including Bangladesh need $625 billion over the next six years to triple the renewable energy capacity.

South Asia has a total installed power capacity of 524.3 GW, with India leading at 446.2 GW, followed by Pakistan (41.9 GW), Bangladesh (28.1 GW), Sri Lanka (5 GW), and Nepal (3.1 GW) while most countries have achieved nearly universal electricity access, quality remains a pressing issue, they said.

South Asian countries, including Bangladesh, need $625b to fulfill their targets of renewable energy capacity by 2030.

By 2030, South Asia aims to produce 552.7 GW of renewable energy, energy experts and activists told a discussion held in Baku on Tuesday.

This disparity stems from various factors, including limited financial resources, technological barriers, and weak policy frameworks. Increased investment, technology transfer, capacity building, and robust policy support from Global North countries are imperative to bridge this gap. Investment in renewable energy in the Global South must be tripled by 2030 to ensure a just, green, and sustainable future. There is no alternative for wealthier nations, but they should take the lead in building a just and environmentally sustainable world.

South Asia, home to 1.93 billion people, 27% of the global population, faces an urgent challenge in transitioning to renewable energy.

Despite its abundant resources, the region’s electricity consumption per capita is only 656 kWh—74% below the developing Asia average and 80% below the global average.

South Asia, home to 1.93 billion people (27% of the global population), stands at a critical moment in its renewable energy transition. Despite its vast resources, the region’s average per capita electricity consumption is only 656 kWh, which is 74% less than the developing Asia average and 80% below the global average. To address these disparities and achieve climate goals, South Asia must significantly accelerate its RE transition. 

Speakers at a discussion said South Asian countries  including Bangladesh need $625 billion over the next six years to triple the renewable energy capacity.

South Asia has a total installed power capacity of 524.3 GW, with India leading at 446.2 GW, followed by Pakistan (41.9 GW), Bangladesh (28.1 GW), Sri Lanka (5 GW), and Nepal (3.1 GW) while most countries have achieved nearly universal electricity access, quality remains a pressing issue, they said.

By 2030, South Asia aims to install 552.7GW of renewable energy, which requires an estimated $625 billion over the next six years.

Despite its vast resources, the region’s average per capita electricity consumption is only 656 kWh, which is 74% less than the developing Asia average and 80% below the global average.

A public interest writ petition was filed on November 13, challenging Adani's power deals as unfair and urging immediate reevaluation or cancellation