State Minister for Power, Energy and Mineral Resources Nasrul Hamid on Tuesday said that even after necessary approval, many of the renewable energy projects are progressing at a snails pace.
Nasrul said that during a progress meeting on renewable energy projects including solar, wind and hydropower at Bidyut Bhaban in Dhaka.
He said a lot of projects have gotten approvals but those do not have any specific time line for implementation.
He also said that the prices of renewable energy sources have reduced significantly and the usage of these will only increase in future.
Nasrul invited private entrepreneurs to invest in this sector. He said that a combined initiative is needed for the production and usage of renewable energy.
Prime Minister Sheikha Hasina gave approval for 16 renewable power plant projects amounting 975 MW.
Out of these, the power purchase agreement of two power plants of 82 MW is completed. Letter of Interest (LoI) is issued for five plants, purchase committee approval for one, tariff approval from proposal evaluation committee for one plant.
Another six projects are under consideration by the proposal processing committee. Discussions have been going on about two more projects.
During the meeting, detailed discussions have been conducted about these projects. Also, proposal has been raised to declare Monpura Upazila of Bhola as solar powered upazila.
At the meeting, Nasrul ordered the people concerned to start the process for bringing fund from International Renewable Energy Agency for renewable energy projects.
Dr Ahmed Kaikaus, Secretary of Power Division, Chairman of BPDB Khaled Mahmud, Anwarul Islam Sikdar, Chiarman of the Bangladesh Energy and Power Research Council were also present at the meeting.