Photo : BSS

DHAKA, April 9, 2025 (BSS) - PRAN-RFL Group, IFC and H&M has inked a 
Memorandum of Understanding (MoU) on the Corporate Power Purchase Agreement 
(CPPA) pilot project.
 
The MoU was signed today at a 'Thematic Session on Renewable Energy' as part 
of the Bangladesh Investment Summit 2025 at Intercontinental Hotel in the 
city.
 
Ambassador and Head of Delegation of the European Union to Bangladesh Michael 
Miller delivered the introductory remarks while Adviser for the Ministry of 
Power, Energy and Mineral Resources Muhammad Fouzul Kabir Khan delivered the 
Keynote speech.
 
Head of Sustainability for Production of H&M Yosef El Natour, Director and 
Regional Industry Head of Infrastructure and Natural Resources, Asia Pacific, 
IFC, World Bank Vikram Kumar and CEO and Chairman of PRAN-RFL Group Ahsan 
Khan Chowdhury signed the MoU on behalf of their respective sides.
 
Muhammad Fouzul Kabir Khan said the government, headed by Nobel laureate 
Muhammad Yunus, pledges to free Bangladesh from costly imported fossil fuels 
and change the country's energy model.
 
As part of this commitment, the government is updating Bangladesh's renewable 
energy policy and introducing a merchant power plant policy to enable 
business-to-business electricity trade, he added.
 
The country also aims to encourage investment in local backward linkage 
industries including the production of cables, inverters, batteries and solar 
cells, he continued. 
 
The adviser said Bangladesh, one of the rapidly growing economies in the 
South Asia, is increasingly focusing on renewable energy to ensure energy 
security and sustainable development.
 
With a growing demand for electricity and a need to reduce import dependency 
of fossil fuels, the country presents significant opportunities for Foreign 
Direct Investment (FDI) in renewable energy, he added.