Despite the falling price of crude oil globally in the last 3-4 years, there has been a steady rise in the production of renewable energy globally. Some countries have switched 100% to renewable energy will some others are on track of shedding off fossil fueled energy production plants. In Bangladesh, the renewable energy scenario has been a bit stagnate as the proportionate growth on renewable energy hasn't been seen in last couple of years. According to the Sustainable & Renewable Energy Development Agency of Bangladesh (SREDA), renewable energy contributes to approximately 3.10 % of our national energy power mix. Even for a country that graduated recently to the LDC category, the figure is simply too low. The main source of Bangladesh's renewable energy till date are solar and hydro-electricity. Although Bangladesh is a pioneer in installing Solar Home Systems (SHSs). Most of these installations were made by IDCOL and other NGOs. To expand these installations even further, after a very long time, another significant investment is being made by The World Bank recently. The World Bank last week approved $55 million to expand use of clean renewable energy in rural areas of Bangladesh where grid electricity cannot reach easily. This additional financing to the Second Rural Electrification and Renewable Energy Development (RERED II) Project will install 1,000 solar irrigation pumps, 30 solar mini-grids, and about 4 million improved cookstoves in rural areas. This additional financing will help construct another 30 solar mini-grids. These will provide about 28,000 connections to households and businesses, including small and medium-sized enterprises. So if implemented on time, this project is certainly going to take thousands of families out of the clutch of fossil fuel.