Policy Brief on BIMSTEC Energy Cooperation
Citation: Raihan, S., Hasan, E. (2024). “BIMSTEC Energy Cooperation”. SANEM-The Asia Foundation Policy Brief. November 2024. SANEM Publications. Dhaka.
This study explores the energy cooperation within the BIMSTEC nations. The region, while home to some of the world’s fastest-growing economies, faces significant energy deficits. Results from the study highlight the diverse energy profiles of member states, with India being the largest consumer, Bhutan leading in per capita electricity generation through hydropower, and varying levels of energy access and renewable energy adoption across countries. Currently, Cross-Border Electricity Trade (CBET) is active between several member states, with India playing a central role. However, the region faces multiple challenges, including infrastructure deficits, regulatory barriers, political instability, and funding shortfalls. The study recommends several actions, including operationalizing the BIMSTEC Energy Centre, implementing a comprehensive Energy Master Plan, harmonizing regulatory frameworks, upgrading transmission infrastructure, and strengthening capacity building. These initiatives aim to create a more integrated and sustainable energy market that can enhance regional energy security, boost economic development, and improve living standards across the region.