The Bangladesh government has given in principle approval to a green investment proposal worth USD1.3 billion for developing the country’s first 500 MW utility-scale offshore wind (OSW) project by Denmark’s Copenhagen Infrastructure Partners (CIP) and Copenhagen Offshore Partners (COP), in association with Bangladesh’s Summit Group.
The three entities had jointly submitted the foreign direct investment proposal in July 2023 to the government. The latest approval from the latter is for carrying out a detailed feasibility study and implementing the first phase of development with site exclusivity in the next three years. The proposed project site is located offshore of Cox’s Bazar district. Once operational, electricity will be supplied directly to the national grid via an onshore substation.