Approval from the interim government for 54 renewable energy solar projects has hit a snag, casting doubt over their implementation. These ventures, backed by local and foreign joint investments totaling nearly $4.5 billion, were slated to transform the country’s energy landscape, but industry insiders warn that without rigorous supervision they are unlikely to succeed.
Stakeholders point to past abuses under the previous administration fraudulent land clearances and weak monitoring and caution against repeating those mistakes. They urge authorities to independently verify both the financial capacity and land documentation of each developer before granting final go-ahead.
Under current regulations, any company aiming to build a 50 MW solar plant must demonstrate:
- An annual turnover of at least $8.2 million
- Working capital of $57.2 million
- Tender security of $5,000 per megawatt
- Mandatory clearances from the local Assistant Commissioner (Land) and the Upazila Agriculture Officer
To safeguard billions in public and private funds, experts recommend tightening controls at every stage: separate audits of financial credentials, thorough checks on land titles, and strict monitoring of disbursements per megawatt.
Meanwhile, the interim government has already suspended 37 solar installations approved under the previous regime amid allegations of irregularities, underscoring the urgent need for transparent and accountable project oversight.
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