Denmark offer $1.3bn investment for offshore wind energy in Bangladesh
Danish companies Copenhagen Infrastructure Partners (CIP) and Copenhagen Offshore Partners (COP) have submitted a 1.3 billion US dollar investment proposal to the government of Bangladesh to produce 500 megawatts of offshore wind energy.
With the investments, CIP and COP, the global leaders in renewable energy, proposed to develop a commercial, utility-scale offshore wind project off the coast of the Bay of Bengal.
As Denmark is the pioneer and global leader in developing the wind energy industry, this initial investment proposal and continued collaboration could be a key driver of Bangladesh's progression into a green nation, it said.
The proposal comes at a time when Bangladesh remains heavily reliant on fossil fuel imports to meet its growing energy demand.
With the Institute for Energy Economics and Financial Analysis (IEEFA) projecting an annual need of 1.7 billion dollar in funding for the green transition, perhaps this multibillion-dollar proposal from CIP and COP could also kick start a new wave of investment, driving Bangladesh towards a truly climate prosperous future.
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