PRAN-RFL Group, one of the country’s largest industrial groups, is now taking a big step towards renewable energy. The company has taken the initiative to provide clean and sustainable electricity to the garment sector of Bangladesh through solar power generation. This electricity will be supplied to Bangladeshi suppliers of Sweden-based world-renowned clothing brand Hennes & Moritz AB (H&M).
Keeping this initiative in mind, a tripartite Memorandum of Understanding (MoU) has been signed between PRAN Group, H&M Group and the International Finance Corporation (IFC). The agreement was signed on the third day of the ongoing Bangladesh Investment Summit 2025 in the capital Dhaka, which is being considered a groundbreaking step towards environmentally friendly and sustainable production in the country’s garment industry.
The agreement was signed by PRAN-RFL Group Chairman and CEO Mr. Ahsan Khan Chowdhury, H&M Head of Sustainability for Production Mr. Yusuf El Natur, Asia Pacific, IFC, World Bank Group Director and Regional Head (Infrastructure and Natural Resources) Mr. Vikram Kumar.
The agreement marks the first-ever Corporate Power Purchase Agreement (CPPA) in Bangladesh. Suppliers will procure electricity from the solar park to be built with financial support from IFC and led by PRAN-RFL Group, which will indirectly help H&M meet its sustainable production targets.
