ADB, AIIB keen to invest in BIMSTEC regional power grid: PM’s energy adviser
Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB) are interested in investing in BIMSTEC regional power grid, Prime Minister's Energy Adviser Dr Tawfiq-e-Elahi Chowdhury has said.
He was speaking after the inauguration of a conference on enhancing energy cooperation in the BIMSTEC region at the BIMSTEC Secretariat in Dhaka today.
BIMSTEC -- that comprises of Bangladesh, India, Myanmar, Sri Lanka, Nepal, Bhutan and Thailand -- signed a memorandum of understanding on establishing a regional power grid in 2018.
"What we need now is the investment," Dr Tawfiq told reporters.
The integrated power grid can help improve energy efficiency, meaning that energy will be low cost and people can avail uninterrupted power connectivity, he added.
"It's not that one country will be the only exporter and the other country will be the only importer. We can actually complement each other," Dr Tawfiq said.
For example, Nepal and Bhutan that have hydropower can export power to Bangladesh in summer when their production is higher. On the other hand, Bangladesh can export power to Nepal and Bhutan in winter when their demand is higher, he added.
If there is regional integration, the possibilities of conflicts also come down, he said.
He hoped that the Rohingya crisis would end and Bangladesh and Myanmar would become good friends and be part of the regional cooperation.
The Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation organised the two-day conference with support from USAID, South Asia Regional Initiative for Energy Integration (SARI) and Integrated Research and Action for Development.