Indian High Commissioner Pranay Verma delivered a special address at the inaugural session of a Regional Workshop on “Transforming Cross Border Electricity Trade and Regional Electricity Market for an Energy Secure South Asia”, which was jointly organized by India’s Research and Information System for Developing Countries (RIS), South Asia Group on Energy (SAGE-RIS) and USAID’s South Asia Regional Energy Partnership (SAREP) on 1 July 2024 in Dhaka.
Minister of State for Power, Energy and Mineral Resources of Bangladesh, Nasrul Hamid MP gave a keynote address through the video-link. The inaugural session was also addressed by the U.S. Ambassador to Bangladesh Peter Haas, Chairman- SAGE-RIS R. V. Shahi and USAID Mission Director in Bangladesh Reed Aeschliman.
In his address, Pranay Verma emphasized that the robustness and integrated nature of the Indian grid, together with sophisticated platforms for power trading and exchanges existing in India, offer great opportunity to India’s neighbours to join with each other through the Indian grid for seamless cross-border electricity trade.
High Commissioner described energy connectivity as a hallmark of transformative changes that have taken place in India-Bangladesh relations in the last decade, leading to the creation of a regional economy in true sense. This includes a new cross-border pipeline launched last year bringing high-speed diesel from an Indian refinery to Bangladesh; and the cross-border power transmission lines, bringing power not just from India to Bangladesh, but also facilitating power transmission from Nepal to Bangladesh through India.
He referred to the “Shared Vision for Future” articulated by the Prime Ministers of India and Bangladesh during the recent State Visit of Hon’ble Prime Minister Sheikh Hasina to India, that has given a new impetus to both bilateral and regional power trade, as India and Bangladesh together commit to develop intra-regional electricity trade, including of competitively-priced power generated from clean energy projects in India, Nepal and Bhutan, through the Indian electricity grid.
High Commissioner Verma noted that regional electricity trade would mark a paradigm shift in how we approach energy security, economic growth, and environmental sustainability by leveraging the strengths and resources of different countries to optimize energy production and consumption.
