China National Machinery Import and Export Corporation (CMC) has set up a US$400m joint venture (JV) with the North-West Power Generation Company (NWPGC) of Bangladesh to develop up to 500 MW of renewable power projects in Bangladesh by 2023, highlighting the growing participation of China in the Bangladesh power sector. The JV will start with the development of 50 MW of wind power projects and is expected to help Bangladesh meet its NDC target to increase the share of renewables in total power generation to 10 % in 2021 (from less than 2% in 2017).
Under its Power System Master Plan 2016, Bangladesh aims to reach 2.5 GW of renewable capacity in 2021, and 3.9 GW in 2041. The country's capacity currently relies on gas-fired power capacities (65% of the 13.5 GW capacity). China has proposed to develop at least a dozen of thermal power plants but only three projects (rated 1,320 MW each) are under construction so far, representing a total investment of around US$4.5bn.
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