Chinese solar giant LONGi eyes investment in Bangladesh's renewable energy

LONGi Green Energy Technology Co Ltd, a leading Chinese company, has expressed a strong interest in investing in Bangladesh to advance the country's renewable energy initiatives, with a particular focus on solar.

Jason Zhao, senior manager of LONGi Green Energy Technology Co Ltd, conveyed this eagerness during a meeting with a Bangladeshi delegation led by BNP Standing Committee member Dr Abdul Moyeen Khan.

The meeting was held at the company president's office in Shaanxi, a northwestern Chinese province, on Friday.

During the discussion, Jason Zhao showcased LONGi's advanced technologies and highlighted the company's successful international projects, emphasising their potential contribution to Bangladesh's renewable energy sector.

He said LONGi aims to establish an office in Dhaka to explore Bangladesh's growing renewable energy potential and supply the country with high-efficiency solar modules for power generation.

Jason also said the company plans to send its business and technical teams to Dhaka to assess Bangladesh's market demand, investment policies, collaboration opportunities and other aspects of the power and energy sector.

He said they want to promote green energy and sustainable development in Bangladesh and to support the country's transition to a cleaner and more efficient energy system.

Jason mentioned that LONGi has established multiple production bases in countries such as Vietnam, Malaysia, and Mongolia while maintaining branches in several locations, including the USA, Japan, Germany, Australia, the UAE, Thailand and India.

He said LONGi is currently working with some companies in Bangladesh on a small scale, but they are eager to expand their operations significantly.

"We want to scale up our engagement and collaborate with the government of Bangladesh to support its renewable energy goals," Jason said.

In response, Dr Moyeen Khan stressed the importance of renewable energy in Bangladesh to meet the country's growing energy demand, noting that Bangladesh is still struggling to generate sufficient power to support its development needs.

The BNP leader said ensuring an adequate energy supply would be a major challenge for the next government.

Alongside traditional diesel-run and coal-fired power generation, he stressed the need for Bangladesh to prioritise renewable energy, particularly solar power. 

"Focusing on solar energy will not only help us reduce environmental pollution but also modernise the power sector," the BNP leader said.

Dr Moyeen said solar power can play a crucial role in improving irrigation facilities in rural areas. "It will be highly effective for irrigation, thereby increasing crop production and benefiting the agricultural sector."

As the LONGi officials informed him that they have reduced the installation cost of solar panels by 90% compared to previous times, he said solar power is now a viable option as it is no longer as costly. "Besides, the longevity of solar panels is 25 years, which is more favourable compared to conventional power plants."

He said if the BNP comes to power in the next election, they will prioritise the power and energy sector to improve people's quality of life and accelerate the pace of development.

Earlier, on 25 February, a 21-member 'unique' delegation, comprising leaders from eight political parties, including the BNP, travelled to China for an 11-day visit at the invitation of the Communist Party of China (CPC).