Bangladesh’s second-largest mobile operator, Robi Axiata, has partnered with two companies to develop a 100-MW solar project in the country. The partnership aims to support the telco’s goal of becoming carbon neutral by 2025.
Robi Axiata has signed a joint development agreement with renewable energy firm Joules Power and investment firm Spectra Solar Park, according to a recent statement. The companies plan to set up a special-purpose vehicle (SPV) to implement the solar project.
In the arrangement, Robi Axiata will hold 40% of the SPV, while Joules Power and Spectra Solar Park will each hold 30%. The solar park is expected to reduce around 119,000 tons of carbon emissions annually.
Robi Axiata views the project as a crucial step towards achieving its environmental, social, and governance (ESG) goals. In addition to the solar project, the company plans to implement other green initiatives, including energy-efficient network infrastructure and eco-friendly packaging.
Bangladesh aims to generate 40% of its electricity from renewable sources by 2041, up from around 3% at present. The country has set a target to reduce its greenhouse gas emissions by 22% by 2030.
In response to the growing awareness about climate change, Bangladeshi companies are ramping up investments in renewable energy. Several major telecom operators in the country, including Grameenphone, have also set ambitious targets to reduce their carbon footprint.
Robi Axiata’s partnership for the solar project marks a significant development in the country’s renewable energy landscape. The project’s implementation will not only support the growth of clean energy in Bangladesh but also help the telco reduce its environmental impact. With the project expected to reduce a significant amount of carbon emissions, Robi Axiata is well on track to meeting its 2025 carbon neutrality goal.
Moreover, the partnership sets an example for other companies in Bangladesh to adopt sustainable practices and invest in renewable energy. As the country moves towards its renewable energy targets, such collaborations will play a vital role in achieving a cleaner and more sustainable future. The successful implementation of the project will pave the way for more such initiatives in the country.
The development is expected to contribute significantly to Bangladesh’s ongoing efforts to transition to cleaner energy sources and reduce its reliance on fossil fuels. The growth of renewable energy in the country is crucial for mitigating the impact of climate change and ensuring a sustainable future for its population.