World Bank supports renewables in Bangladesh

The World Bank announced this week a number of financing transactions that would help expand the use of renewables in Bangladesh, both in regions with access to the grid and in rural areas.

The lender has approved USD 55 million (EUR 44.7m) in additional financing to the Second Rural Electrification and Renewable Energy Development (RERED II) Project. The sum will be used to install 1,000 solar irrigation pumps, 30 solar mini-grids and some 4 million improved cookstoves in rural areas.

The RERED II project has already led to the construction of 10 solar mini-grids in remote areas, the World Bank noted.

Meanwhile, the lender has also signed deals with the government of Bangladesh for USD 450 million in financing to be spent on improving the electricity transmission network in the eastern region, covering greater Cumilla and Noakhali and part of greater Chittagong. Furthermore, some 275,000 homes and 16,000 agricultural consumers will get new electricity connection thanks to the financing.

The project will see 13 new substations being built, which would also facilitate the integration of renewables into the grid, the bank pointed out.

(USD 1.0 = EUR 0.812)

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