Dhaka, January 29, 2025 — Key stakeholders from government, private sector, and financial institutions convened at a high-level roundtable hosted by Standard Chartered Bank to address challenges and opportunities in accelerating renewable energy adoption in Bangladesh. Discussions focused on policy reforms, innovative financing, and unlocking investments to accelerate the nation’s energy transition.

Dr. Muhammad Fouzul Kabir Khan, Power, Energy and Mineral Resources Adviser, Ministry of Power, Energy and Mineral Resources, said, "Bangladesh is moving from subsidies and inefficiencies to a new era of transparency and accountability in energy—a transformation necessary to power our future sustainably."

Emerging markets, including Bangladesh, require an estimated $3.5 to $4 billion annually in transition finance to achieve net zero by 2050, with a significant share needed for renewable energy projects. Discussions underscored the importance of financial innovation and global partnerships in bridging this gap.

Dr. Ahsan H. Mansur, Governor, Bangladesh Bank, said, "Renewable energy is undoubtedly the way forward for Bangladesh, but the path to sustainability must be rooted in financial viability and structural reform. To unlock the sector’s potential, we need policy consistency, reduced costs, and a collaborative approach to overcome challenges like land acquisition and financing gaps. By engaging with international partners and leveraging innovative solutions such as blended finance and tax reforms, we can build a sustainable energy sector that benefits both investors and consumers alike." 

Naser Ezaz Bijoy, CEO, Standard Chartered Bangladesh, said, "We all recognize the need to fast-track the transition. Standard Chartered’s Opportunity 2030 report highlights a staggering $74 billion in private investment needed in Bangladesh’s power sector to ensure affordable and sustainable energy for all. Any delay in securing this financing means the annual run rate required will only continue to rise."

John Murton, Senior Sustainability Advisor, Standard Chartered, said, “Standard Chartered is committed to mobilizing sustainable finance that delivers impact. Across our markets, we are leveraging our expertise in blended finance, carbon markets, and green bonds to unlock private investment in renewable energy. By aligning policy, finance, and innovation, Bangladesh can position itself as a regional leader in the low-carbon economy."

Also in attendance were Farzana Mamtaz, Secretary, Power Division, Ministry of Power, Energy and Mineral Resources; Chen Shaolei, Managing Director, HDFC Sinpower Limited; Hironori Yamanaka, Country Manager, Sumitomo Corporation; Arif Khan, Director, Spectra Solar Park Ltd.; Engr. Nurul Aktar, President, Bangladesh Sustainable and Renewable Energy Association (BSREA); Alamgir Morshed , Executive Director and CEO, Infrastructure Development Company Limited (IDCOL); Tareq Refat Ullah Khan, Deputy Managing Director and Head of Corporate Banking, BRAC Bank; Mashrur Arefin, Managing Director and CEO, City Bank; Kazi Farhan Zahir, Senior Country Officer, International Finance Corporation (IFC); Mashiur Rahman , Energy Specialist , Asian Development Bank (ADB); Md. Rezaul Karim, Chairman, Bangladesh Power Development Board; Khandker Md. Abdul Hye PhD, Chairman (Additional Charge), Sustainable And Renewable Energy Development Authority (SREDA); Mollah Amzad, Editor, Energy & Power Magazine; Shakhawat Hossain, Group Chairman , Paramount Group; Moinuddin Hasan Rashid , Chairman & Managing Director, United Group; Rahat Bin Kamal, General Manager & Head of New Business, United Group; Rajib Paul, Managing Director , Sungrow Renewables Development BD Ltd; Mahtab Osmani, Executive Director, Large Corporates, Standard Chartered Bank, Bangladesh; Ganesh Krishnaswamy, Executive Director, IDFG, South Asia, Standard Chartered; and, Enamul Huque, Head of Corporate Coverage , Standard Chartered Bank, Bangladesh.

Participants emphasized the need for collaboration and strategic reforms to meet these ambitious goals. Policymakers shared that the government is advancing a Merchant Power Policy to enable direct electricity sales between producers and consumers, expanding Net Metering to include single-phase and high-voltage customers, and developing Solar Parks with land and evacuation facilities to reduce investor risk. Private sector emphasized that Power Purchase Agreements (PPAs), fair pricing, and robust dispute resolution frameworks will help build confidence. However, concerns remain over policy consistency, project bankability, and investment incentives. Balanced policies ensuring competition in rooftop solar and merchant power are critical. Additionally, battery storage solutions must be incentivized through tax reductions and financing mechanisms to enhance grid stability and maximize renewable energy utilization. A multipronged financing approach—leveraging multilateral funding, capital market development, blended finance, and carbon credit opportunities—will be key to driving sustainable investments. Key recommendations from the workshop will be submitted to Bangladesh Bank and Ministry of Power, Energy and Mineral Resources to take them forward.

Standard Chartered Bank is the leading international bank in Bangladesh with a strong focus on sustainability and innovation. With a legacy of supporting Bangladesh’s development, the bank continues to champion renewable energy and sustainable finance as key drivers of economic growth and resilience. Operating in Bangladesh for 120 years, Standard Chartered has been a part of many of the first in the country, including financing the first utility scale power solar power plant and Bangladesh's maiden sustainability linked bond issuance.