The World Bank (WB) is likely to provide US $172 million more to raise the number of solar power users and lend further support to the ongoing Rural Electrification and Renewable Energy Development project, WB sources told The Independent on Monday. At present Bangladesh has 11 lakh solar energy users.
WB will provide financial support to the energy and infrastructure financing firm, Infrastructure Development Co Ltd (IDCOL), which will install a testing laboratory, solar energy systems and other support facilities to popularize the use of renewable energy.
The Economic Relations Division has recently completed negotiations with the WB in this regard.
“Such funds are needed to support Bangladesh's efforts to raise levels of social development and economic growth by increasing access to electricity in rural areas," WB energy specialist Zubair K M Sadek said.
He said it would also help finance the scaling up of the project's renewable energy components, which are improving off-grid electricity supply in rural areas through the installation of Solar Home Systems (SHSs).
According to Zubair, the Bangladesh SHS project is the largest of its kind in the world and the WB is providing funds at a cheaper rate than those for other countries.
“We want to install the SHSs where Rural Electrification Board (REB) has not gone to supply power. We are giving a subsidy of $28 for each SHS in Bangladesh and the cost of installing an SHS is $430 for generating 50 Watt of electricity, while the same  costs $800 in an African country,” Zubair said.
Zubair further said the WB wanted to contribute to sustainable development through the provision of renewable solar electricity to households.

News: The Independent/ Bangladesh/ Aug-30-2011