Bangladesh will need an estimated 34,000 MW of power by 2030 to sustain its economic growth of over 7 per cent, said an editorial in the current news bulletin of the International Chamber of Commerce-Bangladesh (ICCB). Experts quoted in the editorial suggest top priority should be given to on-shore and off-shore gas and oil exploration and improvement of power transmission and distribution.

Smooth supply of energy is vital for economic development and achieving the US Sustainable Development Goals.

Bangladesh’s gross domestic product (GDP) is $455 billion now. ICCB expects the GDP to be $510 billion in fiscal 2022-23, according to Bangla media reports.

Bangladesh will need 34,000 MW of power by 2030 to sustain its economic growth of over 7 per cent, said the current news bulletin of the International Chamber of Commerce-Bangladesh. Experts quoted in the bulleting suggest top priority should be given to on-shore and off-shore gas and oil exploration and improvement of power transmission and distribution.

The country now has over 23,000 MW of installed power generation capacity with 100 per cent coverage. According to the Bangladesh Power Development Board, the surplus in power generation is around 8,000 MW, according to ICCB.

Biomass accounts for about 27 per cent of the primary energy and the rest is being met by commercial energy. Natural gas accounts for about 62 per cent of the commercial energy (with 8 per cent imported LNG) and imported oil accounts for the lion’s share of the rest.

Fibre2Fashion News Desk (DS)