Prime Minister’s Energy Adviser Dr Tawfiq-e-Elahi Chowdhury said ‘green project’ costs will be reduced if the IDCOL (Infrastructure Development Company Limited) gives loan to consumers directly through IDCOL's refinancing of bank by opening branch.
“IDCOL can think about it. I think it will be a different work and publicity will also increase,” he told the virtual talks on Industrial Energy Efficiency Dialogue as the chief guest on Thursday.
IDCOL organized the virtual talks in collaboration with Energy & Power Magazine to make the people aware about the developments and challenges of the power and energy sector of the country.
Editor of Energy & Power Magazine Mollah Amzad moderated the talks.
Dr Tawfiq-e-Elahi Chowdhury said, “If the IDCOL could not set up a branch or the bank could not have a designated branch, the bank cannot pay much attention. Loan coverage has to be increased and SMEs could also be brought under it.”
“Now agriculture is also becoming an industry. If irrigation equipment is affordable then its impact will be immense. There is an opportunity to focus on the transport sector. We have to consider whether it is possible to introduce an energy saving award and encouragement will make others interested to this end,” he said.
Participating in the talks, Special Envoy of the UN Climate Venerable Forum Abul Kalam Azad said the prime minister is talking about reducing costs, not saving electricity. Funds have been lined up for the green industry and industrialists are working on it.
“Third party energy services companies are operating in many countries. They invest and make a profit. It can also be done in Bangladesh. Energy auditing of SREDA (Sustainable and Renewable Energy Development Authority) is slowing down, its speed needs to be increased. Testing laboratories need to go to the regional level, not just the national level. It is needed to speed up setting standards,” he added.
Chairman, Bangladesh Energy Regulatory Commission (BERC) Md Abdul Jalil said “BERC has not acquired the capacity according to its age. We are trying to build capacity. Equipment testing labs need to be set up. Then we can ensure energy saving. The first thing to know is how much energy is being used then we have to take necessary initiatives.”
Power Secretary Habibur Rahman said, “If we want to reduce greenhouse gas emissions, then we have to ensure use of renewable energy and moderate use of renewable energy. There are a total of 4 challenges in using energy savings equipment. The first one is how to mitigate additional costs. If we can lend at low interest, and if tax incentives are given to install energy savings equipment, then these projects will be implemented. Energy savings equipment can replace old ones, here if more tariffs can be imposed on inefficient machinery and more attention can be given. Overall, initiatives need to be taken to raise awareness.”
Mohammad Alauddin, chairman of SREDA, said 50 per cent of primary energy is being used in industry. It is possible to save 21 percent by saving energy. Due to lack of demand and old machinery, production is not going on in full-swing. The experience of auditing is that there is a lot of potential to save energy. There is a lack of necessary data and skilled manpower in the industry.
BGMEA President Rubana Haque said, “Our investment must be in green industry. We wanted a technology upgradation fund; Bangladesh Bank has recently made a fund of Tk 1,000 crore. However, green financing is not done properly, we cannot take it properly.”
Among others, Mahmood Malik, ED and CEO of IDCOL, Siddique Jubayer, former member of SREDA, BTMA Vice President Abdullah Al Mamun, Muhim Hasan, Managing Director of Tasrifa Industries, CFO Kawshar Alam, CFO of Sung Shing Cement, also spoke in the virtual seminar.
