Bangladesh, a lower middle-income country with a per capita income of USD 2,820, aims to become a high-income country by 2041 with a per capita income of over USD 12,500. To achieve this, the country needs to achieve an average GDP growth of 9% from 2021 to 2041. To facilitate this rapid, efficient, and sustainable growth, Bangladesh needs to create an enabling environment, with efficient energy and infrastructure being essential components. The government estimated that for a 1% GDP growth, there will be a 1.5% growth in electricity demand.
In 2022, the Ministry of Environment, Forest and Climate Change proposed the Mujib Climate Prosperity Plan (MCPP), which aims to achieve 40% electricity generation from renewable energy by 2041.
This YPF policy brief has identified some of the key challenges for Bangladesh’s renewable energy transition.
About the Author: Aaqib Md Shatil is the Co-Lead of Energy and Infrastructure Policy Network at Youth Policy Forum