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CPD urges ‘SMART Roadmap’ for renewable energy

Bangladesh will need more than 35 gigawatts of renewable power by 2040 to meet its clean energy ambitions, according to a new study by the Centre for Policy Dialogue (CPD). The think tank on Sunday called for a legally binding 30 percent renewable energy (RE) target and a “SMART Roadmap” with clear milestones, technology mix, and grid readiness.

The report, launched in Dhaka, projected that between $35.2 billion and $42.6 billion must be mobilised from 2025 to 2040 to integrate renewable power alongside fossil fuel plants. It suggested concessional loans, blended finance, and risk-sharing mechanisms from multilateral banks and climate funds as key financing sources.

“Policy certainty is crucial to attract large-scale investment,” CPD noted, urging the government to set binding RE targets and strengthen regional power trade with India, Nepal, and Bhutan to secure low-cost electricity.

The study also recommended creating a Renewable Energy Financing Facility under SREDA or IDCOL to support solar, wind, and waste-to-energy projects. It stressed the need for smart grids, digital monitoring, and large-scale storage to stabilise supply, alongside rooftop solar, irrigation pumps, and EV charging hubs through net-metering and household or SME incentives.

The event was attended by officials and energy experts, including Dr Fahmida Khanom, Additional Secretary at the Environment Ministry, Professor M. Rezwan Khan, Chairman of Power Grid Bangladesh, and former BIDS research director Dr Mohammed Asaduzzaman.