Global Fashion Agenda (GFA), Copenhagen Infrastructure Partners (CIP), and international fast fashion companies BESTSELLER and H&M Group are joining forces to develop Bangladesh’s first offshore wind project. This initiative has the potential to significantly increase the availability of renewable energy in one of the fashion industry’s most important manufacturing countries.
Announced by fashion giants Bestseller and H&M Group at COP28 in Dubai, this groundbreaking partnership aims to streamline the fashion industry’s transition to renewable energy. The project will involve the installation of near-shore wind turbines off the coast of Cox’s Bazar, marking the first utility-scale offshore wind farm in Bangladesh. This effort supports the country’s goal of sourcing 40% of its power from renewable sources by 2041. It is expected to create substantial job opportunities, stabilize energy supply, and has a projected capacity of 500 MW, reducing CO2 emissions by approximately 725,000 tonnes annually.
Bestseller has committed to investing up to USD 100 million in the project, marking the largest sustainability investment in the company’s history. The investment aims to provide sustainable energy to Bangladesh’s power grid and support the country’s objective of achieving fossil fuel independence.
H&M Group’s CEO Helena Helmersson emphasized the importance of collaborative efforts in overcoming industry-wide challenges. She stated, “For us, this is a great example of how a collaborative approach on sustainable financing solutions and policy work can go hand in hand to overcome industry-wide challenges. We are grateful for the engagement we have had with local stakeholders and excited to see our joint efforts coming to life. The nearshore wind park in Bangladesh is an important step for the transformation of the Bangladesh renewable energy market and we believe that this will contribute greatly to the decarbonization of the garment industry as a whole.”
The project is still in its early development stages, with necessary analysis work and environmental tests underway, conducted by CIP in collaboration with local partner Summit Power. If approved, the offshore wind farm is expected to become operational by 2028.
This partnership represents a significant step towards a more sustainable and environmentally responsible fashion industry, demonstrating the potential for collective action in achieving renewable energy goals.
