Dhaka, June 25 -- The Bangladesh government has set targets for generating 20% and 30% of electricity from renewable energy sources by 2030 and 2040, respectively, under the country's new Renewable Energy Policy.

Bangladesh will require between US$933 million and US$980 million annually until 2030 to meet the new target.

Post-2030, the country will need between US$1.37 billion and US$1.46 billion annually until 2040, a new report by the Institute of Energy Economics and Financial Analysis (IEEFA) finds.

"Public finance alone is unlikely to meet these funding requirements, necessitating large-scale private investment," says the report's co-author, Shafiqul Alam, IEEFA's lead energy analyst for Bangladesh.

However, abrupt policy changes...