Summit Group, the leading power generator in Bangladesh, will invest at least $1 billion to build five power plants capable of producing 1,310 megawatts (MW) of electricity by 2020, aiming to ease a prolonged crisis in the country’s energy supply, a senior executive said. Ayesha Aziz Khan, finance director, told Reuters that by 2016 at least 300 MW would be added while the rest would be added by 2020. “The plants will be fired by a combination of fuel oil and gas (and) will go into production starting from next year,” Ayesha said, noting the biggest p...

With measured use, the country’s current gas reserve will last for about the next 16 years, state minister for power said in the parliament today. The country’s current gas reserve is 14.16 trillion cubic feet (TCF) until of June 2015, state minister for Power, Energy and Mineral Resources Nasrul Hamid said while replying to lawmakers’ queries. As of May, 2015, he said, some 815.98 BCF gas was extracted in the current fiscal year and if this rate would continue, it would be possible to use the gas for abo...

Bill Gates has announced he will invest $2bn (£1.3bn) in renewable technologies initiatives, but rejected calls to divest from the fossil fuel companies that are burning carbon at a rate that ignores international agreements to limit global warming. Speaking to the Financial Times, Gates said that he would double his current investments in renewables over the next five years in a bid to “bend the curve” on tackling climate change. The Bill and Melinda Gates Foundation, lead by Gates and his wife, is the world’s largest charitable foundation. According to the charity’s most recent tax filings in 2013, it currently has $1.4bn invested in fossil fuel companies, including BP, responsible for the Deepwater Horizon oil spill in the Gulf of Mexico.