Hamid calls for investment in renewable energy

President Md Abdul Hamid has urged the international community to forge a united policy to meet the demand for renewable energy.

“We believe that the development of renewable energy is essential for developing countries,” he said at the Founding Conference of the International Solar Alliance in the Indian capital of New Delhi on Sunday.

“Investment in renewable energy is not only an international issue, it is the initiative is also necessary to ensure the energy needs of the marginalised. It is crucial for the security of the world.”

The new organisation is a new solar power cooperation organisation involving 121 countries from around the world.

“We need significant funds and cooperative agreements to meet renewable energy needs. The international community must play an important role in arranging it,” Hamid said.

The International Solar Alliance began operations in 2015 under the initiative of Indian Prime Minister Narendra Modi and the then French President Francois Hollande with the aim of reducing the world’s dependence on fossil fuels and promoting the use of solar energy. The organisation is headquartered in Haryana’s Gurgaon.

The heads of state and heads of government of 23 countries, including Bangladesh, India, Sri Lanka and France, and ministers from nine countries attended the event.

Bangladesh has expressed its hope that the ISA nations will play an active role in increasing cooperation in solar energy in order to prevent global climate change.

Hamid pointed out the negative impact climate change could have on Bangladesh at the event.

“We are seeing the adverse effects of climate change all across the world. Bangladesh is among the countries that will be most adversely affected by climate change, though it is not responsible for changing the world climate. This is why Bangladesh will do its utmost to solve this problem.”

Bangladesh aims to generate 10 percent of national power production, or 2,000MW, through renewable energy sources by 2021. Currently Bangladesh generates 240MW through solar power.

The government has also begun a massive solar power plant project to add 500MW of power to the national grid.

Current fossil fuel reserves are not sufficient to allow worldwide development, Hamid said.

“Bangladesh is ready to cooperate and support everyone to ensure affordable, reliable, sustainable and modern energy for all. We hope the ISA member countries will open new doors for the renewable energy sector.”