Investing in energy storage in Bangladesh: EU hands over a roadmap to government

The European Union Delegation (EUD) successfully hosted the "Energy Storage Roadmap Presentation & Handover: Driving Investments & Coordination" event at the residence of the EU ambassador in Dhaka on 1 June.

The programme was attended by  Prime Minister's Energy Advisor Tawfiq-e-Elahi Chowdhury, who was the chief guest at the event, says a press release.

Additional Secretary Planning-2 Power Division, Ministry of Power, Energy and Mineral Resources (MoPEMR) Tania Khan and Director General Power Cell Eng Mohammad Hossain attended as special guests. 

Munira Sultana, chairman, Sustainable and Renewable Energy Development Authority (SREDA) also attended the programme.

The event also brought together 40 high-level representatives from the power sector, government stakeholders, Power Division, and transmission and distribution utilities. 

The managing directors of the Dhaka Power Distribution Company (DPDC), the Dhaka Electricity Supply Company Limited (DESCO), the chairman of Rural Electrification Board (BREB), Infrastructure Development Company Limited (IDCOL), representatives from the Bangladesh Power Development Board (BPDB) and from Power Grid Company of Bangladesh (PGCB), as well as sector relevant donors, including GIZ, AFD, ADB, the World Bank, EU Member States, the US Embassy and two private sector companies, all interested in potential investments in energy storage solutions, gathered together the press release adds.

This occasion was the final milestone of an EU-funded scoping study on "Options for Energy Storage in Bangladesh" to support the government of Bangladesh in its Green Energy Transition. 

The Energy Storage Roadmap's main features were presented by the study Team Leader Mohammad Arbaaz Nayeem, who also addressed questions and comments from the audience. 

This study was organised within the framework of Team Europe Initiative on Green Energy Transition, and as part of the EU Global Gateway strategy. 

Concluded in May 2023, the assignment assessed available energy storage technologies, evaluated the role of energy storage in the current grid conditions, identified potential storage locations, analysed energy storage requirements under variable renewable energy (VRE) integration, and developed a roadmap for energy storage in Bangladesh. 

The study also generated valuable insights and knowledge products on the applications and potential of energy storage in the country.

The roundtable discussion featured the official presentation and handover of the Energy Storage Roadmap to the government of Bangladesh, marking a significant milestone in the collaborative efforts between the European Union and the government to advance the energy storage sector. 

The roadmap highlights specific use-cases for consideration in the Bangladesh power sector over three different future time horizons. It also includes a summary of indicative policy and regulation actions and interventions that may be considered to enable the deployment of energy storage within the defined time horizons.

Moreover, the event served as a pivotal platform to steer the next steps in terms of investment opportunities: selected stakeholders, including development partners, financial institutions, and the private sector, were provided with valuable insights into the business opportunities identified by the study, and shared their views on the identified business cases. 

The discussion fostered collaborations and partnerships between key actors involved in the green energy transition of Bangladesh.

"We are delighted to present the Energy Storage Roadmap to the Government of Bangladesh and to potential investors. The European Union with Team Europe is proud to stand alongside the Government of Bangladesh in its journey towards a greener and more prosperous future," stated the EU Ambassador to Bangladesh Charles Whiteley. 

"This event has not only highlighted the strategic importance of energy storage in Bangladesh's sustainable energy goals but has also laid the foundation for collaboration and investments in this crucial sector."

Both Additional Secretary Tania Khan and DG Power Cell conveyed their appreciation to the European Union (EU) for providing funding for this study. 

They also expressed keen interest in collaborating with the EU on the projects outlined in the study.

Towfiq-e-Elahi Chowdhury expressed his interest in the study and shared the wish to know more about the existing and perspective battery energy storage applications in other countries and Europe. 

He further encouraged the EU and its member states to invest in other renewable energy applications in Bangladesh.

The closing remarks of the event by the EU ambassador included a reference the EU portfolio's in the energy sector. 

The EU engagement and financial commitment in support to the green transition in Bangladesh covers different aspects of the power sector. 

This year, the EU has designed a comprehensive financing package of EU grant support towards Bangladesh Green Energy Transition. It includes an EU-GIZ Technical assistance on policy and regulatory framework, as well as a Technical Assistance and Investment Grant for Bangladesh Renewable Energy Framework Facility, where an EU grant will be combined with a soft loan from the European Investment Bank for grid scale renewable energy power generation. Furthermore, the EU aims to support in the energy and power regional integration through a new pipeline project.