Investment & Trade
Sector Profile: Renewable Energy
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Executive Summary
The Renewable Energy sector in Bangladesh is in its export infancy but growing rapidly. Current export value FY2023-24: USD 35M (mostly solar panels and components via HS-8501, 8541, 8542). The country has 30+ solar module assembly plants (mostly in Ishwardi EPZ and Adamjee EPZ) with combined capacity of 1.2 GW. Bangladesh has positioned itself as a hub for solar home systems (SHS) — the Infrastructure Development Company Limited (IDCOL) has installed 6 million+ SHS domestically, the world's largest off-grid solar programme. Solar panel exports to Africa, Afghanistan, and Middle East are growing 30% annually. The country's first wind turbine blade manufacturing facility opened in Chattogram in 2023 (joint venture with Vestas). Government target: 40% of electricity from renewables by 2040. Export target: USD 500M by 2030 (per Renewable Energy Export Roadmap 2024). The sector benefits from cash incentive of 8% on solar panel exports.
Key Points
- Export value FY2023-24: USD 35M (early stage)
- 30+ solar module assembly plants (Ishwardi EPZ + Adamjee EPZ)
- Combined capacity: 1.2 GW
- 6 million+ domestic SHS installations (world's largest off-grid programme)
- Solar panel export growing 30% annually to Africa, Afghanistan, Middle East
- First wind turbine blade factory opened Chattogram 2023 (JV with Vestas)
- Cash incentive: 8% on solar panel exports
- Government target: 40% electricity from renewables by 2040
- Export target: USD 500M by 2030
- IDCOL is the apex financing agency
Full Details
Investment profile for renewable energy. Solar home systems, power demand growth, and 10% renewable target by 2030.