October 20, 2020 Read More →

Japanese, Chinese investors pulling out of Bangladesh coal projects

The Third Pole:

Bangladesh will retreat from coal power if a recent proposal is approved by Prime Minister Sheikh Hasina.

In August, the Ministry of Power, Energy and Mineral Resources sent a letter to the Prime Minister’s Office. The letter, which The Third Pole has seen, seeks approval to convert 13 coal-fired power plants, which are currently in the pipeline, into liquefied natural gas (LNG)-based plants.

The country’s initial plan for coal and proposed transformation to LNG power will lead to “substantial overcapacity,” a study by the Institute for Energy Economics and Financial Analysis (IEEFA) found earlier this year.

The study, released in May 2020, stated that Bangladesh only used 43 per cent of existing power plants’ capacity in the 2018-19 fiscal year. 

[Abu Siddique]

More: Finances force Bangladesh to reconsider coal plants

Posted in: IEEFA In the News

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