More in Energy
Bangladesh’s first offshore wind power project receives government approval
The government of Bangladesh has given its initial approval to conduct a detailed feasibility study for establishing the country’s first offshore wind energy plant. They have approved the first phase of site development within the next three years, according to a statement by the company involved. Denmark’s Copenhagen Infrastructure Partners (CIP) and Copenhagen Offshore Partners […]
BY Insider Desk
Desco reports first loss in 20 years
State-run Dhaka Electric Supply Company Ltd (Desco) has faced a financial setback in the fiscal year 2022-23, marking its first loss in two decades. The company, responsible for electricity distribution in Dhaka’s western and northeastern areas, revealed a loss of Tk 5.41 billion in the fiscal year ending in June 2023, as stated in its […]
BY Insider Desk
Govt approves LNG purchase to tackle energy shortage
The government has given the green light to acquire 67.20 lakh tonnes of liquefied natural gas (LNG) from the international spot market. This purchase, valued at Tk 1,243 crore, aims to bolster the country’s energy reserves. The decision came during a meeting at the secretariat in Dhaka, chaired by Finance Minister AHM Mustafa Kamal. The […]
BY Insider Desk
Has Sri Lanka recovered from its economic woes?
On the 21st of August of 2023, Sri Lanka repaid $50 million, the first installment of the $200 million loan taken from Bangladesh in 2021. Within 10 days, the second installment, which is $100 million, was paid back to Bangladesh. In this way, the so-called fallen economy of South Asia paid $150 million in total, […]
BY Md. Imran
Bangladesh requires massive energy investment to support growth
Nasrul Hamid, the state minister for power, energy, and mineral resources, highlighted the pressing need for significant investments in Bangladesh’s energy sector to sustain its economic growth as a developing nation. Speaking at a conference titled ‘Powering progress: Overcoming challenges and driving innovation in Bangladesh’s energy sector,’ Hamid emphasized the government’s commitment to facilitating investors’ […]
BY Insider Desk