European Union has launched a green energy transition initiative in Bangladesh on Wednesday.
Team Europe Initiative on Green Energy Transition has been launched to support the country build a power system which will ensure maximum coverage of its energy demand through renewable energy.Alongside with the Team Europe Initiative on Decent Work, it is one of two flagships of the international Team Europe approach, which provides strategic European responses to the challenges faced by Europe`s partner countries.
In Bangladesh, the Team Europe initiative on Green Energy Transition is co-chaired by Germany and the Delegation of the European Union.
“It aims at supporting Bangladesh to build a power system that leads to maximum coverage of the country’s energy demand through renewable energy,” said a press release of the EU Delegation. “It also intends to reduce CO2 emissions, energy consumption and demand through energy efficiency.”
Highlighting the collective experience of Europe, EU Delegation Ambassador in Dhaka Rensje Teerink said, “The Team Europe Initiative on Green Energy Transitions draws on the wealth of Team Europe’s expertise in Renewable Energy.”
“It pulls resources together and provides an opportunity to combine the most appropriate mix of implementing modalities to obtain maximum results. It shows that multilateralism works.”
The current amount of activities of Team Europe Initiative on Green Energy Transition adds up to 930.6 million euro (around Tk 9378.7crore).The portfolio of the Team Europe Initiative on Green Energy Transition comprises projects in the area of effective sustainable energy market, optimized grid infrastructure and renewable energy integration into the grid.
This holistic approach covers generation, transmission, distribution and utilisation, and it follows two main directions.
“The Team Europe approach stands for impact, innovation and overall coherence,” stated German Ambassador in Bangladesh Peter Fahrenholtz.
“It sends a strong message of European partnership and solidarity. It supports a sustainable recovery from the devastating impact of the pandemic,” he said.
State Minister for the Ministry of Power, Energy and Mineral Resources Nasrul Hamid has welcomed the European initiative.
He said the government was reviewing the Power System Master plan to keep CO2 emissions to a minimum.
“We are looking forward to implementing our strategies with the support of the Team Europe Initiative,” he added.