Dhaka: Two Bangladeshi companies received $1 million grant from the United Nations Department of Economic and Social Affairs (UN DESA) in recognition of a project to spur solar entrepreneurship. 

The two companies, Grameen Shakti and ME SOLshare, received the grant for their joint project that will allow villagers to secure more solar power, save money through flexible energy access and generate income from trading electricity, according to a UN release.

The project will enable rural people to become solar entrepreneurs by creating an interconnected platform where solar home system users and non-users can exchange electricity.

The grant money will be used to scale up and replicate peer-to-peer solar mini grids and to leverage the electricity sharing grid infrastructure to power electric rickshaws, solar-run water pumps, energy efficient fridges and other appliances with the potential to strengthen village prosperity and encourage mutual benefits.

The partnership estimates that the grant money will enable them to establish a minimum of 100 smart grids resulting in at least 15,000 beneficiaries. But the impact of the grant is going to be greater, as it is likely to inspire more such initiatives.

"Grameen Shakti and SOLshare are deeply honored that our innovative idea of creating a countrywide platform where villagers can share their solar electricity among each other and become smart entrepreneurs," the winning partnership said in a statement. 

The companies in the statement also lauded the role of Bangladesh government in setting 'a great example' of promoting solar power particularly through the Infrastructure Development Company Limited (IDCOL). 

"Achieving SDG7 on energy and transition to sustainable energy can unlock vast economic growth in all regions and for all people, while significantly reducing greenhouse gas emissions," UN Deputy-Secretary-General Amina Mohammed said in a written statement read out on her behalf during the ceremony, held Tuesday at the UN Headquarters in New York.

DESA Under-Secretary-General Liu Zhenmin said over the past years, this Energy Grant has proved to be valuable in raising awareness, building capacity, and recognising ingenuity in promoting sustainable energy.