Japanese power firm Jera Corporation has signed an agreement on 25th April with Bangladesh power producer Summit Power International Limited to jointly develop a roadmap targeting for use Bangladesh to use cleaner fuels.
To accelerate adoption of renewable power generation in Bangladesh and support its Paris Agreement goals, the MOU includes pathways for establishing zero emissions targets for Summit, outlining a roadmap to achieve these targets and identifying opportunities to deploy greener fuels such as hydrogen or ammonia in support of decarbonization efforts.
This comes amid a national drive to phase out coal-fired power generation and declining domestic natural gas production. The transition will allow Bangladesh to develop more sustainably amid growing demand for electricity in the country, in line with burgeoning economic growth. There is an increasingly urgent need for Bangladesh to diversify its power mix further, given such a backdrop, the two companies said in a joint press statement.
On the occasion Ayesha Aziz Khan remarked, “As a member of the Climate Vulnerability Forum (CVF), Bangladesh has the ambition to supply 40% of its energy needs from renewable sources by 2041. In line with this Summit, along with our partner JERA, are aspiring to implement the best practices and adaptation knowledge to reach our zero emissions targets.”
Toshiro Kudama stated, “JERA Asia is pleased to have the opportunity to work with Summit on its decarbonization efforts in Bangladesh as it too is striving to reduce its carbon footprints from domestic and overseas operations, with the announced goal of zero CO2 emissions by 2050. We believe we can draw on the experiences of JERA and Japan to support Summit and Bangladesh.
The demand for electricity in Bangladesh is expected to continue to increase in line with the country’s economic growth. While supporting this growth and meeting the increased demand of electricity, Bangladesh is at the same time seeking to contribute to the Paris Agreement goals by diversifying fuel sources for power generation, improving generation efficiency, and developing renewable energy.
Jera has thus pledged to work together with Summit Power to also explore ways to utilise new energy sources, such as hydrogen and ammonia, in a bid to achieve decarbonisation. This is in line with Bangladesh’s commitments to the Paris Climate Agreement and will further bolster Bangladesh’s energy supply to support the country’s economic growth.
Jera acquired 22pc of Summit Power’s outstanding shares on October 2019, and has since helped the company to construct and operate efficient power generation facilities.