Denmark’s Copenhagen Infrastructure Companions units sail for a greener future. Picture: Wikipedia/ Nagarjun Kandukuru
DENMARK’S Copenhagen Infrastructure Companions (CIP) has offered a plan to the federal government of Bangladesh for the event of a groundbreaking 500MW industrial offshore wind venture within the Bay of Bengal. CIP, together with venture supply arm Copenhagen Offshore Companions (COP), submitted the proposal consistent with Dhaka’s Mujib Local weather Prosperity Plan (MCPP) coverage framework. The venture is estimated to require a complete funding of $1.3 billion.
COP and CIP are aiming for a comparatively brief timeline of roughly 5 years, from in-principle approval to venture commissioning. This formidable timeline places the venture in direct competitors with India’s offshore wind tasks, doubtlessly making it the primary of its sort in South Asia. India, regardless of its aspirations of changing into a international inexperienced power superpower, has confronted regulatory challenges, with zero offshore turbine capability established to this point.
The submission of the offshore wind venture proposal is well timed for Bangladesh, which has lately skilled power worth shocks as a consequence of its heavy reliance on fossil fuels. Moreover, Bangladesh is likely one of the most susceptible nations to local weather change, given its low-lying geography and susceptibility to flooding in the course of the monsoon season. The offshore wind venture aligns with Bangladesh’s pressing have to adapt to local weather change whereas transitioning to cleaner and extra environment friendly applied sciences, decreasing its dependence on unstable fossil gas imports.
Wind and solar energy in #Denmark attain 67% share in H1 @RenewablesNow https://t.co/PtwKmQ9NAY
— sdewes_centre (@sdewes_centre) July 11, 2023
If carried out, the venture wouldn’t solely be a primary for Bangladesh but in addition for South Asia, contributing to know-how switch and accelerating the educational curve for the nascent offshore wind business within the area. This might pave the best way for future tasks by decreasing boundaries to entry and inspiring funding in renewable power.
Denmark and Bangladesh have additionally lately established a joint motion plan centered on sustainable and inexperienced improvement. The Danish Minister for Growth Cooperation and World Local weather Coverage, Dan Jorgensen, visited Dhaka, solidifying the partnership and agreeing to collaborate on inexperienced and clear applied sciences and sustainable funding.
Denmark provide $1.3bn funding for offshore wind power in Bangladesh https://t.co/asJB30hRpN #offshore_wind_energy#Denmark #Bangladesh
— South Asian Replace (@updates_asian) July 12, 2023
CIP manages a number of funds and has raised over €25 billion ($28 billion) for investments in power and related infrastructure. Their funding focus contains offshore and onshore wind, photo voltaic PV, biomass and energy-from-waste, transmission and distribution, reserve capability, storage, superior bioenergy, and Energy-to-X applied sciences.
The multibillion-dollar offshore wind venture proposal not solely holds the potential to rework Bangladesh’s power panorama but in addition to stimulate funding and drive the nation in direction of a climate-prosperous future.