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 business offshore wind undertaking within the Bay of Bengal. CIP, together with undertaking supply arm Copenhagen Offshore Companions (COP), submitted the proposal in step with Dhaka’s Mujib Local weather Prosperity Plan (MCPP) coverage framework. The undertaking 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 undertaking commissioning. This bold timeline places the undertaking in direct competitors with India’s offshore wind tasks, doubtlessly making it the primary of its variety in South Asia. India, regardless of its aspirations of changing into a international inexperienced vitality superpower, has confronted regulatory challenges, with zero offshore turbine capability established so far.
The submission of the offshore wind undertaking proposal is well timed for Bangladesh, which has just lately skilled vitality worth shocks on account of its heavy reliance on fossil fuels. Moreover, Bangladesh is likely one of the most weak nations to local weather change, given its low-lying geography and susceptibility to flooding through the monsoon season. The offshore wind undertaking aligns with Bangladesh’s pressing must adapt to local weather change whereas transitioning to cleaner and extra environment friendly applied sciences, decreasing its dependence on unstable fossil gasoline 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 applied, the undertaking wouldn’t solely be a primary for Bangladesh but in addition for South Asia, contributing to expertise switch and accelerating the educational curve for the nascent offshore wind trade within the area. This might pave the way in which for future tasks by decreasing obstacles to entry and inspiring funding in renewable vitality.
Denmark and Bangladesh have additionally just lately established a joint motion plan targeted on sustainable and inexperienced growth. The Danish Minister for Improvement 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 vitality 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 vitality 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 undertaking proposal not solely holds the potential to rework Bangladesh’s vitality panorama but in addition to stimulate funding and drive the nation in the direction of a climate-prosperous future.
