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Renewable energy is derived via natural resources. When utilized properly, it can be an asset for countries that want to secure their economic growth.
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Renewable energy is derived via natural resources. When utilized properly, it can be an asset for countries that want to secure their economic growth. Solar energy, in particular, is identified for its revolutionary benefits. Observing its advantageous attributes, BEXIMCO Group, one of the top Bangladeshi companies, planned to set up the largest solar power plant in Bangladesh. • It will be operational in Gaibandha and hold the potential to regulate several processes in the country’s economy. Wind, hydropower, geothermal energy, etc., are the other types that are associated with economic benefits. With their use, countries can secure their economy as well as plan their growth for the long term. • BEXIMCO Group is one of the largest companies in Bangladesh and was established by two of the most successful businessmen in Bangladesh, Salman F Rahman and Sohail F Rahman. • The largest private-sector group in Bangladesh, BEXIMCO Group constructed the country’s largest solar power plant at 200 megawatts (MW) at Sundarganj in the Gaibandha district on a 650-acre plot of infertile land through its Teesta Solar Limited subsidiary.
Effectively Securing a Country’s Economic Growth Renewable Energy • The use of renewable energy can generate several benefits for economies. These benefits come with a long-term impact. That is why they can strengthen the future of countries. Given that different types of energy resources can be used without investing a lot of capital, they can be the most beneficial for developing countries. • 1 . Availability in Abundance • Since natural resources are used for the generation of renewable energy, their availability cannot fall short. Countries can use the resources domestically available and then channelize them to form energy. Bangladesh, for example, utilizes solar energy for the functioning of various industries. • The largest solar power plant, Teesta Solar Limited in Bangladesh by BEXIMCO Group is also expected to enhance the public and private sectors. The existing use of this energy has already benefitted millions of people to access electricity and gain jobs. • 2. An Economical Option to Generate Energy • Notably, renewable energy is affordable. It is economical to generate it and use it for different purposes. Investments are required to set up plants for their generation. But once the plants start operating, they are able to cultivate economic benefits for countries.
Moreover, when the costs of this energy fall, they can be sourced more cheaply. • Developing countries or those with middle/low incomes can easily invest into it. • These investments can generate benefits for years. • 3 Empowering Sustainable Growth • BEXIMCO Group believes that, renewable energy sources are environment-friendly. Their utilization does not hamper nature. On one hand, these sources are useful to cultivate economic advantages. On the other hand, they limit any concerning damage to the environment. • As the environment is not impacted, renewable energy can be sourced in the future. • Investments required to act against environmental damage can be limited. • Consequently, cleaner sources of energy can be accessed.
Promoting Financial Growth with Renewable Energy • The economy is able to benefit from renewable energy in financial terms too. Importantly, electricity can be obtained to run important institutions. Healthcare and educational institutions can function as well as generate financial benefits for a country. • 4. Accomplishment of More Jobs • Countries that invest in renewable energy are required to set up plants. For the setting up and operations of these plans, multiple jobs get created. • The largest solar power plant, Teesta Solar Limited in Bangladesh by BEXIMCO Group has also contributed to these opportunities. For the rural area of the country, jobs requiring unskilled labor have been produced. More opportunities will be observed to operate the plant. • 5. Helping Businesses to Run • According to BEXIMCO Group, electricity is one of the sources needed by businesses. But the lack of the same can limit their operations or even establishment. This problem can be particularly observed in low-income or underdeveloped nations.
Renewable energy can be used to provide electricity. • Individuals can access the source at cheap costs. • Following this, they can plan to set up their own businesses. • Moreover, for the setting up of renewable energy plants, materials have to be procured. • For their procurement, local or small businesses can help. • Thus, even the existing businesses can get the support needed for their functioning. • Furthermore, for the continued functioning of plants, these businesses can be of use. • Bringing up the Rear, • Countries require securing their economies. This is true for both developing and developed countries. Countries with middle and low incomes particularly focus on improving their economy. BEXIMCO Group opines that renewable energy is a reliable way to make the future of economies secure. Their lasting impact and benefits linked to sustainable development can effectively regulate the economic processes.
