Copenhagen Infrastructure Partners proposes, COP propose development of 500 MW offshore wind project off the coast of the Bay of Bengal

Denmark's Copenhagen Infrastructure Partners (CIP) and Copenhagen Offshore Partners (COP) have submitted a proposal to the Bangladesh government for a 500 MW, US$1.3 billion commercial utility-scale offshore wind project off the coast of the Bay of Bengal. The project could potentially become South Asia's first offshore wind project, and it's aimed at aiding Bangladesh's progress towards becoming a green country, utilizing its coastal resources to create a blue economy.

The Government of Bangladesh plans to transition to cleaner energy sources as quickly as possible, as the country has experienced a significant downfall in its GDP due to climate change. Climate change's impacts could potentially cause a 9% drop in the nation's GDP by mid-century, as per the World Bank. As it stands, the country still heavily relies on fossil fuel imports despite its clean energy goals.

Copenhagen Infrastructure Partners and Copenhagen Offshore Partners' proposal to invest in a multibillion-dollar offshore wind project could stimulate a new phase of investment in the country.