Nasrul Hamid seeks ADB’s help to create regional power market

ZOOMBANGLA DESK: State Minister for Power, Energy and Minerals Resources Nasrul Hamid has sought the help of Asian Development Bank (ADB) to create a regional power market.

“ADB can help create a marketplace in the region so that countries can trade electricity as per their necessity”, he told Takeo Konishi, the South Asia Director General of the ADB when he called on the state minister at his office in the ministry on Monday.

Under the arrangement, countries can export electricity to Nepal and Bhutan during the winter season, he said.

During the meeting they discussed various issues related to mutual interest.

Welcoming the ADB Director General Nasrul Hamid said that the number of ADB-funded projects should be increased.

He said Bangladesh has a plan to import 9000 MW of power.

“We need a good consultant to advise us to set the actual price of energy in this regard and ADB can help us address this issue”, he said.

The state minister noted that the government is giving importance to the participation of individuals and private organisations in optimising the use of resources beside the participation of the government.

He noted that bonds are being issued to reduce the subsidy in the power sector.

The government has taken initiative to convert some 13 lakh diesel-run pumps into solar pumps.

He said that it will yield good results if they can work simultaneously for technological development and building a common computer data centre.

The ADB director general discussed the issue of increasing private sector participation in the energy transition, electric vehicle, energy infrastructure and solar energy roadmaps for financing, regional interconnection and project readiness.

It is notable that ADB has financed $2.57 billion in 7 projects in the power sector.

In 2023, ADB approved two projects worth $360 million while 3 projects are under implementation and 5 remain as request for proposal in the energy sector.

At this time, Asian Development Bank Country Director Ed Ginting (Edemon Ginting) was present. (UNB)