Pran-RFL Group, a leading industrial conglomerate in Bangladesh, is entering the solar energy sector to produce renewable energy. The group plans to generate 100 megawatts of electricity at its integrated agricultural farm in Moulvibazar, with funding from the International Finance Corporation (IFC), a World Bank Group institution. The energy will be sold to local garment manufacturers supplying to global brands like H&M. A memorandum of understanding (MoU) between H&M, Pran-RFL, and IFC will be signed on Wednesday during an investment summit. The project will use 350 acres of land for solar panel installation, aiming to meet the growing demand for sustainable energy. However, there are no clear national policies for electricity trading and distribution, prompting calls for policy support from the government. Pran-RFL’s CEO, Ahsan Khan Chowdhury, emphasized the need for government assistance to start the project quickly, with initial financing from IFC and future funds from low-interest sources.
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