EU, Germany and Bangladesh Launch Agrivoltaics Pilot to Accelerate Green Transition

Bangladesh has launched its first structured Agrivoltaics Pilot Project alongside the establishment of the National Working Group on Agrivoltaics and Floating Solar, marking an important step in promoting innovative renewable energy solutions that make efficient use of limited land resources.

the event, titled ‘Sun, Soil, and Sustainability: Kick-off of Agrivoltaics Pilot and National Working Group,’ was jointly organized by the Power Division, Ministry of Power, Energy and Mineral Resources, and the Green Energy Transition-Policy Advisory Partnership (GET-PAP) project, implemented by GIZ Bangladesh. GET-PAP is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ). ‘We are not just inaugurating a new facility, we are laying the foundation for future generations to thrive. By harnessing the sun not only to grow crops up but also to generate clean electricity, we are addressing two of he most pressing challenges of our time — food security for a growing population and accelerating the transition to renewable energy,’ said Mr. Nur Ahmed, Additional Secretary of the Power Division during his remarks as chief guest at the event held recently.

Adani Group Announces Strategic Entry into Battery Energy Storage Sector

Adani Group announces its foray into the Battery Energy Storage Systems (BESS) sector with a pioneering 1126 MW / 3530 MWh project. This means that BESS would be able to store 3530 MWh of energy – extending power capacity of 1126 MW by ~3 hrs). This project, entailing deployment of more than 700 BESS containers, will be the largest BESS installation in India and one of the world’s largest single-location BESS deployments.

this historic project will be commissioned by March 2026.

this strategic initiative is a major step toward enhancing India’s energy security, enabling round-the-clock clean electricity and supporting the country’s transition to a low-carbon future. The BESS will play a critical role in easing peak load pressures, reducing transmission congestion, and mitigating solar curtailment, thereby improving grid reliability and efficiency.

the project is in the advance stages of deployment at Khavda, the worlds’ largest renewable energy plant.

the project is being developed with cuttingedge lithium-ion battery technology and is being integrated with advanced energy management systems to ensure optimal performance and reliability.

Adani Group to Invest $7.17b in Power Projects in India’s Assam State

India’s Adani Group said on 14 November it will invest about 630 billion rupees ($7.17 billion) in two major energy projects in the north-eastern state of Assam, including what will be the region’s largest privately built coal-fired power plant.

adani Power (ADAN.NS) had emerged as the lowest bidder for a 3.2 gigawatt (GW) coal power supply tender floated by the state.

adani said that its coal power plant operating unit will spend about 480 billion rupees ($5.46 billion) to build the facility.

the plant is expected to start commissioning in phases from December 2030, the company said.

the investment marks the acceleration of private investment in India’s greenfield coal-based power projects after more than a decade of lull.

in August, Adani Power announced investments of about $5 billion in two coalpowered plants.

the company aims to expand capacity to 42 GW from 18 GW by fiscal 2032 at an investment of 2 trillion rupees.

Summit Power Sees Fall in Revenue, Rise in Net Pro?t in Q1

After suffering an 87.86% drop in annual profit in the 2024-25 fiscal year, Summit Power Limited, an independent power producer, has reported a 13.89% rise in net profit in the first quarter of the current fiscal year, despite a significant fall in revenue.

according to its interim condensed consolidated financial statement for the July-September period, Summit Power’s revenue declined 43.89% year-onyear to Tk945.30 crore, down from Tk1,684 crore in the same period of the previous fiscal year. Despite the revenue slump, the company’s net profit rose to Tk145.62 crore in Q1, compared to Tk127.85 crore a year earlier.

earnings per share (EPS) stood at Tk0.62, compared to Tk0.85 in the July- September quarter of FY25. Summit Power’s net finance costs decreased to Tk59.34 crore in Q1 of FY26, from Tk77 crore in the corresponding period of FY25.

its share of profit from equity investments increased to Tk26.82 crore, up from Tk18 crore, the report showed.

in a price-sensitive disclosure on 23 October, the company said that 7 of its 15 power plants had remained shut during FY25.

together, the 15 plants have a combined generation capacity of 930.55MW, of which the seven non-operational plants accounted for 234MW

Belém’s Hard Lesson

COP30 in Belem delivered mixed outcomes amid rising geopolitical tensions and record climate impacts. While countries agreed to triple adaptation finance by 2035, adopt 59 GGA indicators, mobilize USD 300 billion annually, and launch a Just Transition Mechanism, the summit failed to produce a fossil fuel phase-out roadmap-the most critical missing piece. Finance pledges for forests, health, and loss and damage exceeded expectations, but consensus politics limited ambition. Belem exposed widening gaps between scientific urgency and political will as the world heads toward COP31.COP30 unfolded in Belem at a moment when the world felt unusually fragile. Delegates arrived in the Amazon carrying the weight of record-breaking heat, devastating climate disasters, and a global political climate that seemed to shift by the week. Expectations were modest from the start. With the United States once again withdrawing from the Paris Agreement and geopolitical tensions rising, many feared the summit might deliver even less than usual. Yet, despite its limitations, Belém sparked a debate that is still ongoing: Was this COP a step forward, or simply another reminder of how difficult global climate action has become? Those debates began almost as soon as the gavel fell.

one seasoned negotiator, hardened by years inside the UN process, noted that-with a few exceptions-no previous COP has delivered significantly more than Belém. ‘Has any COP done better?’ he asked rhetorically, before answering himself: ‘No.’ Others saw a different picture. Negotiators with decades of experience argued that the quality of discussions in Belém fell short of earlier summits, reflecting the fractures of an increasingly polarized world.

even so, Belém was not without progress. Countries adopted the Global Goal on Adaptation with 59 indicators and agreed-at least politically-to triple grantbased public adaptation finance by 2035. The climate finance agenda advanced as developed countries committed to providing USD 300 billion annually starting next year, supported by a roadmap to scale combined public and private finance to USD 1.3 trillion by 2035. Meanwhile, the launch of the Just Transition Mechanism, pushed strongly by Brazil, stood out as one of the summit’s most meaningful structural achievements. Beyond the formal negotiating rooms, Belém carried a sense of civic energy that many felt the official talks lacked. The People’s Summit, vibrant and vocal, adopted its own positions on issues that governments failed to agree on, adding pressure that is expected to shape future COPs.

at the same time, key areas such as forest protection, health, and loss and damage attracted more new funding than many had expected.

these gains do not erase the frustrations or widen the narrow window for climate action, but they show that even in an unsettled world, pockets of ambition remain alive. Dr. Mizan R. Khan, Technical Lead at LUCCC, described COP30 as ‘lowgrade’ in terms of negotiations. While Brazil has long been visible in climate diplomacy, it took softer positions in Belém on critical issues such as fossil fuel phase-out and climate finance. He noted that no new pledges were made for climate finance, Loss and Damage, or adaptation, and expressed doubt that meaningful progress would be achieved in the next two years toward finalizing thenew NCQG roadmap. ‘The Presidency did its homework well, but the outcome is disappointing,’ he said.

as anticipated, the Global Goal on Adaptation (GGA) was adopted with 59 indicators. While developing and climate-vulnerable countries had sought a commitment to triple adaptation finance by 2030, negotiators settled on tripling grant-based public adaptation finance by 2035.

on climate finance, COP30 delivered several outcomes. Developed countries are committed to providing USD 300 billion annually starting next year through 2035. Parties also agreed to develop an inclusive roadmap to scale total climate finance-public and private-to USD 1.3 trillion annually by 2035.

another significant outcome was the global agreement to launch the Just Transition Mechanism, even before the Just Transition Work Program formally concludes. Brazil’s leadership on this issue garnered strong international support.

a standout feature in Belem was the People’s Summit. While formal negotiations failed to reach decisions on several critical issues, the Summit adopted its own positions.

although not legally binding, these outcomes are expected to exert pressure on negotiators in future COPs. COP30 also adopted the decisions of the Loss and Damage Fund board, including its financing arrangements and modalities for operations. Despite low expectations for new financial commitments amid shifting global dynamics, Belém delivered more than anticipated. Brazil’s proposed Tropical Forests Forever Fund secured USD 9 billion in pledges.

the Loss and Damage Fund, which had previously accumulated only USD 779 million since Dubai, received an additional USD 817 million from six countries. COP30 also adopted a Global Health Action Plan accompanied by USD 100 million in pledged support. These developments suggest that even in a turbulent geopolitical moment, targeted climate priorities continue to draw interest. Nearly 60,000 delegates traveled to the heart of the Amazon for what was described as the ‘COP of Truth.’ COP30 took place during a year marked by record global temperatures, widespread climate disasters, and rising geopolitical tensions.

expectations for breakthroughs were tempered by uncertainty. Belém delivered progress in climate finance, adaptation, and just transition. But it also underscored the widening gap between what climate science demands and what governments are willing to commit. Most critically, the conference failed once again to reach an agreement on phasing out fossil fuels-the central driver of the climate crisis.

engr. Shah Adnan Mahmood, Climate and Renewable Energy Financing-Certified Expert and Co-Founder of Klifin, noted that while the Just Transition Mechanism is a major achievement, the absence of concrete climate finance commitments and the omission of fossil fuel phase-out language from the final text is deeply disappointing for vulnerable countries.

the Fossil Fuel Roadmap that Never Materialized For many, COP30 was expected to deliver a clear roadmap for phasing out fossil fuels. More than 80 countries expressed early support, including Latin American nations, European states, and many vulnerable countries.

even Norway signaled openness. But political reality quickly overtook early momentum. Major oil producers and several emerging economies rejected any text referencing fossil fuel transitions.

afterlong nights of negotiations, all language hinting at a structured fossil fuel phaseout was removed.

the final text contained no reference to fossil fuels-an omission compared by observers to holding decades of anti-smoking conventions without mentioning cigarettes.

to prevent a collapse of the talks, Brazil proposed an alternative: two voluntary roadmaps, one on fossil fuel transition and one on ending deforestation, to be developed outside the UNFCCC. While useful, these roadmaps lack formal authority and cannot substitute for negotiated commitments.

the failure to secure a fossil fuel roadmap stands as one of COP30’s defining outcomes. Climate Finance: Advances, Commitments, and Persistent Gaps Countries reaffirmed the COP29 commitment to mobilize USD 300 billion annually by 2035 and recommitted to the broader goal of USD 1.3 trillion annually from mixed sources.

these commitments signal progress but also highlight the fragility of the global climate finance system. Forest finance received a boost, with Brazil’s Tropical Forests Facility securing over USD 9 billion. However, this remains far short of what rainforest nations require. Dr. M. Masrur Reaz, Chair of Policy Exchange Bangladesh, warned that global financial flows may shrink further amid instability. Bangladesh requires USD 116 billion to implement its NDC 3.0-USD 26 billion of which must come from domestic sources, an enormous challenge. He emphasized that Bangladesh must improve project preparation to secure grants and concessional loans and added that achieving 100 percent renewables by 2050 is unrealistic.

adaptation: Progress, But Not Enough COP30 produced an agreement to triple adaptation finance by 2035-an improvement, though far from what vulnerable nations demanded. Work on the Global Goal on Adaptation advanced, but many felt that the final indicators were diluted.

ahsanul Wahid, Manager (Climate Change) at Manusher Jonno Foundation, argued that while the political signal is important, global adaptation needs of USD 310-365 billion annually far outstrip current promises. LDCs’ expectation of USD 220 billion by 2035 appears unrealistic. Just Transition: A Key Structural Advancement One of COP30’s most meaningful outcomes was the establishment of the Belém Action Mechanism (BAM) for just transition.

the mechanism is designed to support workers and communities in fossil fuel-dependent sectors and guide countries in developing fair, inclusive transition strategies.

trade, Cooperation, and a Shifting Geopolitical Landscape Trade issues took center stage in Belém, particularly concerns over carbon border measures such as the EU’s import levy.

as a result, countries agreed to initiate dialogues on trade and climate cooperation.

the absence of the United States made geopolitical shifts starkly visible, with China, India, Russia, and Saudi Arabia asserting strong positions. Forests and Nature: Momentum without Structure Brazil spotlighted forests throughout COP30. More than 90 countries supported ending deforestation, and finance pledges increased. But because no formal roadmap was negotiated, the process was moved outside the UNFCCC. Consensus Politics and Brazil’s Ambitions President Lula’s proposals to phase out fossil fuels and end deforestation received wide support but could not overcome the constraints of consensus-based negotiations. While Brazil prevented collapse, the final text fell short of the presidency’s ambitions.

is the COP Process Still Fit for Purpose? Belém reignited debate over the future of the COP system. Some countries arguedthat unanimous decision-making is no longer adequate for the climate crisis. While discussions on reform began, no concrete steps were taken. Climate and energy expert Dr. Mushfiqur Rahman stressed that keeping 1.5°C within reach requires major investments- investments the global system is not prepared to make. COP30 made this reality more visible. Looking Ahead to COP31 COP31 will be hosted by Trkiye, with Australia playing an unusual role in the presidency.

the year ahead will revolve around strengthened NDC submissions, Brazil-led voluntary roadmaps, and continued negotiations on finance, adaptation, and trade.

the stakes for 2026 could not be higher. Decisions taken before COP31 will shape the credibility of the COP system and the future of the Paris Agreement. Five Outcomes from COP30 1.

a Political Signal to Triple Adaptation Finance by 2035 Countries signalled that adaptation finance should triple by 2035-a major political message, though not binding. 2. New Initiatives to Raise Ambition The ‘Belem Mission to 1.5’ and ‘Global Implementation Accelerator’ aim to strengthen ambition and implementation of NDCs. 3.

a New UNFCCC Just Transition Mechanism The Belém Action Mechanism (BAM) will coordinate global support for fair and inclusive transitions. 4.

agreed Indicators for the Global Goal on Adaptation COP30 delivered the first agreed set of GGA indicators-imperfect but foundational. 5. Fossil Fuel Phase-Out Language Blocked, but Momentum Persists Despite opposition from major producers, Brazil launched voluntary roadmaps to keep fossil transition discussions alive. Conclusion Understanding what the world-especially climate-vulnerable nations-gained from Belém is not straightforward. Some precedents were broken, including the African Group’s call to review the 1.5°C target. Fossil-fuel-rich countries argued that the world has already surpassed 1.5°C and pushed for a new global temperature threshold, but this did not enter the final text.

experts emphasize that the People’s Summit’s parallel decision-making process should be strengthened in future COPs to increase pressure on negotiators. They also stress that countries must determine sources of climate finance before COP32, ensuring that major polluters contribute adequately and that Article 9 of the Paris Agreement is fully operationalized. Securing climate finance is becoming more difficult in today’s shifting global landscape.

implementing the Work Program needed to reduce carbon pollution has never been more urgent. Achieving net-zero emissions by 2050 requires transformational investment- yet the global system remains unprepared to deliver it. Despite strong efforts from the Global South, breakthroughs in the next two years seem unlikely. Brazil’s diplomacy was active and determined, but Belém’s limited outcomes highlight the immense challenges ahead

Editorial

COP30 in Belem was never expected to save the world, but many hoped it might at least change its direction.

instead, the summit offered something far more sobering: a clear, human reminder of how difficult it has become to move nearly 200 countries toward meaningful climate action, even as the crisis grows more urgent by the day. Delegates arrived in the Amazon during a year of record heat and devastating climate disasters. Against that backdrop, Belem did deliver progress. Countries signalled that adaptation finance should triple by 2035. For the first time, they agreed on indicators to measure global resilience efforts. Developed nations recommitted to mobilizing USD 300 billion annually for climate finance, and the long-awaited Just Transition Mechanism finally took shape. Pledges for forests and loss and damage exceeded expectations, reflecting a genuine, if fragile, willingness to help vulnerable communities. But the heart of the story lies in what didn’t happen.

the world still could not agree to reference, let alone phase out, fossil fuels. Political pressure from major producers erased every mention of transition from the final text. Brazil tried to keep hope alive with voluntary road maps, but without formal backing, they remain only that: hope. Belem revealed the limits of a system built on consensus in an increasingly divided world. As nations turn toward COP31, one message rings painfully clear: small steps are no longer enough.

the world doesn’t just need promises-it needs courage, and the will to act before the window finally closes.

Bangladesh to be 2nd-Largest LNG Importer in South Asia by 2035: IEA

B a n g l a d e s h ‘ s liquefied natural gas (LNG) imports are likely to outpace Pakistan’s by 2035, making it the secondlargest importer in South Asia after India, according to a projection by the International Energy Agency (IEA). Pakistan and Bangladesh together would import around 75 billion cubic meters (bcm) of LNG in 2035, up roughly 60 percent from 2024 levels, projected the intergovernmental organization, which provides policy recommendations, analysis, and data.

the Stated Policies Scenario reflects reading of country specific energy, climate and related industrial policies that have been adopted or put forward, even if not yet codified in law.

though the report did not specifically state the share of each country, the outlook data and infrastructural trends showed that Bangladesh would import around 42-44 bcm of LNG in 2035, while Pakistan would import around 33-36 bcm.

Russia’s Oil, Gas Revenue May Fall by 35% in Nov

Russian state oil and gas revenue may fall in November by around 35 percent from the corresponding month in 2024, to 520 billion roubles ($6.59 billion), due to lower oil prices and a stronger local currency.

oil and gas revenue has been the most important source of cash for the Kremlin, making up a quarter of total federal budget proceeds.

the revenue is also set to decline by 7.4 percent from October, excluding cyclical payments of the profit-based tax.

the decline in proceeds is painful for Russia, which has heavily boosted defence and security spending since launching its military campaign in Ukraine, which it calls a special military operation, in February 2022. For the first 11 months of the year, the revenue is seen falling by 22 percent to 8 trillion roubles, on track to reach the 2025 target.

the price of Russian oil for tax purposes declined from January to November to $57.3 per barrel, down from $68.3 in the 2024 period.

Third Cohort of Shoktikonna Graduates Held

The Shoktikonna Third Cohort Graduation Ceremony, held on 24 November 2025, celebrated a new generation of young women leaders committed to advancing Bangladesh’s sustainable and inclusive energy future. The ceremony marked the completion of a three-month leadership journey designed to nurture technical skills, confidence, and professional pathways for women in the green economy. Shoktikonna Leadership Cohort is a platform dedicated to empowering young women aspiring to build careers in Bangladesh’s sustainable energy sector. Now in its third iteration, more than 100 young women from STEM and related fields have graduated from the program, many of whom are contributing to renewable energy, clean technologies, and sustainability-driven industries. The third cohort is supported by the European Union in Bangladesh, German Development Cooperation, and The World Bank, and implemented by GIZ Bangladesh and Devtale Partners.

Costly Gas Grid Expansion Demands Urgent Policy Overhaul

Gas Transmission Company Limited (GTCL), a Petrobangla subsidiary mandated to own and operate Bangladesh’s gas transmission grid, has invested heavily in new infrastructure over the past decade and a half.

today, GTCL’s high-pressure transmission network stretches across the country- from Moheshkhali in the southeast to Rangpur in the northwest, and from Beanibazar in the north to Khulna in the south.

its pipelines and related facilities can transport more than 6,000 MMCFD of gas.

the only missing link in this nationwide system is the segment needed to connect the stranded gas reserves of Bhola Island to the national grid. Sector insiders know that, due to resource constraints, the country currently supplies only about 2,800 MMCFD of gas- including roughly 1,100 MMCFD of imported LNG regasified by two floating storage and regasification units anchored off Moheshkhali.

a lack of coordinated planning has left a large portion of the transmission system underutilized. GTCL has gained little from these expensive assets; instead, they have become a burden.

the government formed after the February 2026 general election will need to take stock and assess options before making further investments in gas transmission.

this reassessment must cover not only transmission but the entire gas supply chain.

to meet rising demand in the expanding franchise area, Petrobangla-guided by development partners-decided in the 1990s to unbundle the gas sector into production, transmission, and distribution.

this led to the creation of GTCL, responsible for receiving metered gas from upstream producers and delivering it to downstream distribution companies. Nearly three decades later, GTCL has grown from scratch into the country’s largest gas transmission utility. Still, incomplete asset transfers from some distribution companies and unresolved custody-transfer processes continue to cause disputes over metered gas deliveries.

in recent years, these disputes prompted Petrobangla to impose up to a 3% system loss allowance on GTCL, even though technically transmission losses should be negligible apart from minor metering inaccuracies. GTCL has since replaced most aging meters with modern systems, and SCADA now supports gas transactions across its network.

investments that Pushed GTCL Toward Financial Distress Gas fields in the Sylhet region, located along the northern corridor, are major suppliers to the national grid.

two large pipelines, the 178 km, 24-inch Koilashtila-Ashuganj line and the 30inch Rashidpur-Ashuganj line, form the backbone of transmission.

ahead of the development of the Bibiyana field, GTCL planned three compressor stations at Muchai, Rashidpur, Ashuganj (AGMS), and Elenga in Tangail. However, under pressure from Chevron, the productionsharing-contract operator for Blocks 12, 13, and 14, the government in 2009 allowed Chevron to build and operate the Muchai station. GTCL was instead tasked with constructing a 42-inch high-pressure pipeline from Bibiyana to Dhanua across difficult terrain, as well as compressor stations at Ashuganj and Elenga.

a large share of Bibiyana’s gas was diverted downstream, while nearby power plants began consuming gas directly at the source.

the resulting shift rendered the Ashuganj and Elenga GTCL compressor stations redundant within a short time.

aGMS remained operational for a period, but the Elenga stationnever went into service. Many believe Chevron’s involvement in Muchai was an attempt to prolong its cost-recovery period.

one former Petrobangla chairman opposed the decision, but his objections were ignored.

it remains unclear why GTCL was instructed to build a 30-inch parallel pipeline from Ashuganj to Bakhrabad despite declining supply from the northern corridor. Petrobangla’s daily production and transmission reports show that both AB1 and AB2 pipelines from Ashuganj are operating at low flow.

the Ashuganj compressor cannot function within its design parameters due to upstream shortages, and the Elenga compressor station remains idle. GTCL also built transmission pipelines from Moheshkhali and Cox’s Bazar to Anowara, Chattogram, to evacuate RLNG from the FSRUs. Within a few years, RLNG demand exceeded the design capacity of the first pipeline, prompting construction of a 42-inch parallel line. Inspections have shown that the metering facilities in the area were installed at three to four times the required scale.

these projects, carried out under the Special Act of 2010 without proper feasibility studies, primarily benefited entrenched energysector interests.

the resulting financial burden has crippled GTCL. Sector specialists know Bangladesh has long faced a chronic gas supply crisis. Despite extending a pipeline from Ishwardi to Khulna via Kushtia and Jessore, gas supply to the Khulna region remains unachievable.

the priority should have been a transmission line from Bhola to Khulna.

instead, GTCL was directed to extend the pipeline network from Bogura to Rangpur via Dinajpur-regions unlikely to receive gas in the near future. GTCL officials did voice objections, but frequent changes of managing directors undermined institutional continuity. These costly, unnecessary investments benefited only an unholy alliance of vested interests while pushing GTCL into financial distress.

in the near future, GTCL must undertake major projects to evacuate gas from Bhola and build a third parallel pipeline from Moheshkhali/Matarbari. Without government grants or a revised wheeling charge, GTCL will struggle to absorb these investments. Recommendation The incoming government must review unnecessary investments in GTCL’s infrastructure and identify ways to utilize idle facilities.

a transparent audit will reveal the intentional missteps and vested interests behind past decisions.

at the same time, rigorous techno-economic feasibility studies must precede all future projects.

as the regulator of the energy and power sector, BERC must approve all upcoming gas-sector projects to prevent further financial strain and ensure rational planning