Summit Power International Limited and Jera Asia Pte Ltd, a subsidiary of Jera Corporation of Japan, have teamed up to develop a carbon-neutral roadmap for Summit while supporting Bangladesh's continued socio-economic development.
The two parties on Monday signed a memorandum of understanding (MOU) to this end, reads a press statement.
The agreement includes pathways for establishing zero emissions targets for Summit, outlining a roadmap to achieve these targets and identifying opportunities to deploy greener fuels such as hydrogen or ammonia in support of de-carbonisation efforts.
Nicholas Padgalskas, Chief Financial Officer (CFO) of Summit Power International and Toshiro Kudama, CEO of Jera Asia, signed the agreement in the presence of senior officials of the government of Japan at the Asian Green Growth Partnership Ministerial meeting in Tokyo.
Joining the programme virtually, Summit Power's Managing Director Ayesha Aziz Khan said, "As a member of the Climate Vulnerability Forum, Bangladesh has the ambition to supply 40% of its energy needs from renewable sources by 2041.
"In line with this, Summit, along with our partner Jera, are aspiring to implement the best practices and adaptation knowledge to reach our zero emissions targets."
Toshiro Kudama stated, "Jera Asia is pleased to have the opportunity to work with Summit on its de-carbonisation efforts in Bangladesh as it too is striving to reduce its carbon footprints from domestic and overseas operations, with the announced goal of zero CO2 emissions by 2050."
"We believe we can draw on the experiences of Jera and Japan to support Summit and Bangladesh," he added.