Category: Energy and Power

Summit Meghnaghat Power Company Limited (SMPCL), a subsidiary of Summit Power International, has successfully repaid its entire syndicated foreign project loan of $190 million to a consortium of international lenders.

the full repayment, completed by 15 October, without any delay since the plant’s commissioning, has been hailed by Summit as a major milestone that enhances Bangladesh’s reputation as a reliable global partner in infrastructure finance.

the syndicated long-term loan was financed by a group of leading international Development Finance Institutions (DFIs), including Standard Chartered Bank (UK), DEG (Germany), FMO (Netherlands), OPEC Fund for International Development (Austria), and British International Investment (UK), along with Bangladesh’s Infrastructure Development Company Limited (IDCOL).

the facility was contracted at interest rates ranging from 7.28% to 7.58%.

In a significant move towards fostering sustainable industrial growth, Infrastructure D e v e l o p m e n t Company Limited (IDCOL) and ABA Group have formed a strategic partnership to boost energy efficiency, water management, and environmental standards within ABA Group’s manufacturing operations.

the collaboration, celebrated at a ceremony at the Sheraton Dhaka and attended by senior leadership from both entities, builds upon their successful history of engagement through IDCOL’s Energy Efficiency window and Biogas Program.

this enhanced alliance is dedicated to expediting the adoption of advanced energy-efficient technologies and renewable energy solutions, particularly within the ready-made garments (RMG) sector. Known for pioneering sustainable apparel manufacturing by establishing Bangladesh’s first LEED Platinum factory, ABA Group now operates multiple LEED-certified facilities and has implemented cutting-edge systems for water reuse, wastewater treatment, and energy optimization. With tailored financing and advisory support from IDCOL, the Group is poised to further diminish its carbon footprint and establish new benchmarks for responsible manufacturing.

Millions of refugees are trapped in a vicious cycle of conflict and climate extremes, the United Nations said recently, urging the COP30 summit to provide financing for the most vulnerable. UNHCR, the UN refugee agency, said that within 15 years, the places currently hosting nearly half the world’s refugees could be facing extreme exposure to climaterelated shocks. ‘Climate change is not only amplifying existing vulnerabilities — it is also fuelling displacement trends, creating complex and compounding risks for refugees… leaving many with no escape from its impacts,’ it said in a report.

it said climate shocks were increasing humanitarian needs and amplifying the risks of repeated displacement. UNHCR said that by mid2025, 117 million people had been displaced by war, violence and persecution.

of those, three in four are living in countries facing high-to-extreme exposure to climate-related hazards, it said.

it added that over the past 10 years, weather-related disasters had caused around 250 million internal displacements within countries.

The Anti-Corruption Commission (ACC) is set to carry out a full audit of the power import deal with India’s Adani Group, alongside its ongoing investigation into alleged irregularities in the contract.

a new three-member committee has been formed to examine both the audit and the inquiry.

the team is led by ACC Deputy Director Al Amin, with Deputy Director Muhammad Zainul Abedin and Assistant Director Mahmudul Hasan as members.

the national anti-graft agency’s spokesperson Md Akhtarul Islam confirmed the formation of the committee. During the tenure of the now-ousted Awami League government, Adani Group reportedly benefited from duty and tax exemptions, resulting in alleged revenue losses amounting to Tk 45 billion.

an earlier ACC team had already been investigating the claims.

Aligning with the United Nation’s Sustainable Development Goals (SDGs), country’s superbrand and tech-giant Walton has emphasized on initiating sustainable green and renewable energy initiatives.

as a part of its green initiatives, Walton installed one megawatt capacity’s country’s largest floating solar power plant at its headquarters at Chandra in Gazipur, says a press release. Walton has marked a new milestone for a greener tomorrow through sustainable and renewable energy in the country’s industrial sector. Mostafizur Rahman Razu, head of Walton’s Environment, Health and Safety Department, said, Walton’s floating solar power plant has set an example in ensuring sustainable industrial development.

through implementing floating solar project, Walton is not only generating electricity but also marking a remarkable contribution in fish farming, land conservation, reduced water evaporation and environment protection.

after the electricity consumption at Walton factory, the excess electricity generated from floating solar plant are added to the national grid through net metering system.

With under one year until the 27th World Energy Congress, the World Energy Council is pleased to announce that Dr Naif Alabbadi has been elected to the Council’s Board as the Chair for World Energy Congress 2026. Dr Alabbadi is a senior representative in the Saudi Ministry of Energy, currently serving as Advisor for Electricity Affairs to the Minister of Energy, His Royal Highness Prince Abdulaziz bin Salman Al-Saud. With more than 30 years of expertise in the energy sector and a PhD in Mechanical Engineering from the University of Iowa, Dr. Alabbadi, in his capacity as Chair, will represent the World Energy Council and the Ministry of Energy of Saudi Arabia as co-hosts of this milestone global event.

taking place in Riyadh, Saudi Arabia, from 12-15 October 2026, World Energy Congress 2026 will bring together over 18,000 international leaders, CEOs and innovators and more than 100 ministers to bridge geographies and generations, sectors and societies, in what is the only truly global energy event in the world, with a focus on accelerating practical solutions for a future of more secure, sustainable and equitable energy for all.

Power Grid has shown signs of recovery, with year-on-year losses falling by as much as 54 per cent to Tk 2.10 billion in FY25, supported by higher revenue and favorable foreign exchange rates. Consequently, the power transmission company cut its losses to Tk 2.30 per share in FY25, compared to a loss of Tk 6.69 (restated) per share in the previous year, according to price-sensitive information published recently.

the board of directors, however, declared no dividend for the year as retained earnings remained negative. Favorable foreign exchange rates, due to relative stability in the forex market over the previous year, helped the company narrow its losses, said Power Grid in its earnings note. Foreign exchange fluctuations had previously caused substantial losses for the company. Power Grid has a significant amount of foreign loans taken for various development projects, which must be repaid in US dollars.

the profit or loss has been calculated based on the exchange rates of the US dollar and the euro on the last day of the quarter or financial year.

although Power Grid’s term loans rose 10 per cent yearon-year to Tk 548 billion, its long-term interest-bearing debts fell by 50 per cent to Tk 3.48 billion in the nine months through March this year

China’s stateowned oil- and gas-explorationcompany Sinopec is poised to secure a contract to drill five new gas wells on gasrich Bhola island, as Bangladesh moves to ramp up domestic production of the fuel amid mounting energy demand. Bangladesh Petroleum Exploration and Production Company Ltd (BAPEX), a subsidiary of Petrobangla, has selected the company following competitive bidding, and the official signing is expected soon, a senior Petrobangla official said.

under the agreement, Sinopec will carry out drilling works worth around Tk 11 billion, to be completed within 600 days of signing.

the project includes four development wells — Shahbazpur-5, Shahbazpur-7, Bhola North-3, and Bhola North-4 — and one exploratory well, Shahbazpur North-East-1. These wells will be drilled to depths of 3,500-3,600 meters, according to project documents.

the Executive Committee of the National Economic Council (ECNEC) has already approved the fivewell-drilling initiative as part of the government’s broader effort to boost local gas output and meet rising national energy demand.

The Asian Development Bank (ADB), together with ACWA Power Company, Sumitomo Corporation, Chubu Electric Power Co.

inc., and Shikoku Electric Power Co.

inc., has signed a landmark financing package to build two utilityscale solar power plants with battery energy storage systems (BESS) in Uzbekistan. The Samarkand 1 and 2 Solar PV and BESS Projects will be developed across the Samarkand and Bukhara regions of the country. ‘ADB is pleased to support Uzbekistan in advancing one of the most significant renewable energy initiatives in Central Asia,’ said ADB President Masato Kanda. The projects will add 1,000 megawatts (MW) of solar capacity and about 1,336 megawatt-hours (MWh) of BESS.

they will also include transmission lines and two new substations to strengthen grid stability and connectivity. Once operational, the projects are expected to supply clean electricity to around 600,000 households and offset about 1.3 million tons of carbon dioxide emissions annually.

aDB arranged a $140 million financing package, comprising $70 million from its ordinary capital resources, $10 million from the ADB-administered Leading Asia’s Private Infrastructure Fund 2 (LEAP 2), and $60 million in syndicated loans with ADB as the lender of record.

The Emissions Gap Report 2025 finds that global warming projections over this century are 2.3-2.5°C, down from 2.6-2.8°C last year.

the report argues action and leadership by the Group of 20 (G20) will be pivotal in narrowing the emissions gap.

ahead of the 2025 UN Climate Change Conference (UNFCCC COP30), the UN Environment Program (UNEP) published its annual report that tracks the gap between the actual greenhouse gas (GHG) emissions and where they ought to be to meet the temperature goals of the Paris Agreement on climate change. The Emissions Gap Report 2025 finds that global warming projections over this century are 2.3-2.5°C, down from 2.6-2.8°C last year.

implementation of current policies only would translate to 2.8°C of warming, compared to 3.1°C last year.

the report is titled, ‘Off Target: Continued Collective Inaction Puts Global Temperature Goal at Risk.’ It highlights that while ambition and implementation continue to fall short of what is needed, every fraction of a degree matters.