Summit Power International Limited and JERA Asia Private Limited (JERA Asia), a subsidiary of JERA Corporation of Japan, signed a Memorandum of Understanding (MOU) on Monday to collaborate on developing a carbon-neutral roadmap for Summit while supporting Bangladesh’s continued socio-economic development.
The MoU was signed between Nicholas Padgalskas, Chief Financial Officer (CFO) of Summit Power International, and Toshiro Kudama, CEO of JERA Asia, in the presence of senior officials of Japan at the Asian Green Growth Partnership Ministerial (AGGPM) Meeting in Tokyo.
According to a press release, the MOU included pathways for establishing zero emissions targets for the Summit to accelerate the adoption of renewable power generation in Bangladesh and support its Paris Agreement goals.
The MOU outlined a roadmap to achieve these targets and identify opportunities to deploy greener fuels such as hydrogen or ammonia in support of de-carbonisation efforts.
On the occasion, Summit’s Ayesha Aziz Khan said, “Bangladesh has the ambition to supply 40 per cent of its energy needs from renewable sources by 2041 as a member of the Climate Vulnerability Forum (CVF).”
“In line with this, Summit, along with our partner JERA, is aspiring to implement the best practices and adaptation knowledge to reach our zero emissions targets.”
JERA Asia CEO Toshiro Kudama stated, “JERA Asia is pleased to have the opportunity to work with Summit on its de-carbonisation efforts in Bangladesh as it too is striving to reduce its carbon footprints from domestic and overseas operations, with the announced goal of zero CO2 emissions by 2050. We believe we can draw on the experiences of JERA and Japan to support Summit and Bangladesh.