In the latest episode of LightCastle Live, Zahedul Amin, Managing Director and Co-founder of LightCastle Partners, speaks with Mr. Nure Alam, Chief Operating Officer – Renewable Energy at PRAN-RFL Group, to explore how Bangladesh can accelerate its transition toward a cleaner, more resilient energy future. Their conversation offers a deep dive into the current state of renewable energy adoption, the structural barriers that persist, and the strategies needed to unlock large-scale private investment.
A Purpose-Driven Career in Sustainability
With an extensive career spanning logistics, development, and corporate sustainability, Mr. Alam’s journey reflects a steady commitment to driving impact through innovation. Having previously worked with organizations such as DHL, TNT, the World Bank Group, and Coca-Cola, he eventually turned his focus toward renewable energy—motivated by a vision to make sustainability both viable and bankable.
“Renewable energy is not just about technology transfer,” Mr. Alam explained. “It’s about integrating it meaningfully into corporate strategies so that it becomes both commercially feasible and environmentally responsible.” His academic background, which includes a master’s in sustainability and project management from the University of Saskatchewan, further strengthened his conviction that green growth must be rooted in strong business models.
Breaking the Barriers to Renewable Energy
Bangladesh currently sources only about 5.5% of its power from renewable energy, well below regional peers like India and Sri Lanka. Mr. Alam identified policy implementation, financing bottlenecks, and land scarcity as the key barriers slowing progress.
“The policies are in place,” he noted. “But we need frameworks that are business-friendly and bankable, allowing investors to see real potential for scalability.” He emphasized the importance of a streamlined, one-stop approval process to accelerate project timelines and attract greater private participation.
Financing the Transition
Discussing the financing landscape, Mr. Alam acknowledged the positive role of initiatives such as the Bangladesh Bank’s Green Transformation Fund and IDCOL’s refinancing schemes but pointed out that they often lack accessibility and efficiency.
“The current refinancing structure primarily supports on-grid systems,” he said. “We need flexible mechanisms that also enable off-grid adoption, especially for industries located outside major distribution networks.” He added that establishing stronger payment guarantees and risk-sharing models is essential to improving the bankability of OPEX-based rooftop solar projects.
Learning from Global Success Stories
Highlighting Vietnam’s rapid renewable energy expansion, which grew from 10 megawatts to more than 16 gigawatts in just two years, Mr. Alam emphasized the role of enabling policies and investor confidence. “Feed-in tariffs and payment guarantees changed the game for Vietnam,” he shared. “Bangladesh can take inspiration from these models to unlock similar momentum.”
PRAN-RFL’s Leadership in Renewable Energy
PRAN-RFL has emerged as one of Bangladesh’s leading private-sector pioneers in renewable energy. The company recently signed a Corporate Power Purchase Agreement (CPPA) with H&M Group, supported by the International Finance Corporation (IFC), to promote cleaner, more sustainable energy use within industrial supply chains.
Currently, PRAN-RFL operates 14 megawatts of rooftop solar and has a target of expanding to 84 megawatts across more than 30 industrial sites. “We didn’t wait for the perfect policy environment,” Mr. Alam said. “Our leadership believes in taking bold, proactive steps—and we’re ready to invest in the future of clean energy.”
Looking Ahead
Mr. Alam remains optimistic that Bangladesh can achieve its renewable energy targets of 20% by 2030 and 30% by 2040 if policy, financing, and regulatory systems evolve in tandem. He called for improvements in wheeling charges, grid connectivity, and foreign exchange predictability to create a more investor-friendly ecosystem.
“Renewable energy isn’t just about sustainability,” he concluded. “It’s about shaping a future where environmental responsibility and business success go hand in hand.”
📺 Watch the full discussion on LightCastle Live’s YouTube channel
A Purpose-Driven Career in Sustainability
Breaking the Barriers to Renewable Energy
Financing the Transition
Learning from Global Success Stories
PRAN-RFL’s Leadership in Renewable Energy
Looking Ahead
Guests
Mr. Nure Alam serves as the Chief Operating Officer for the Renewable Energy division at PRAN–RFL Group, where he leads the company’s strategic expansion into clean energy solutions.
