H&M Group and Bestseller to build Bangladesh's first offshore wind project
Fashion titans H&M Group and Bestseller have joined forces with the Global Fashion Agenda (GFA) to develop the first offshore wind project in Bangladesh to help streamline the sector's transition to renewable energy. Pledging to invest up to 100 million US dollars towards this new collaborative effort, announced at COP28 on December 5, the initiative could pave the way for more significant investments aimed at decarbonizing the fashion and textile industry supply chain.
Still in its early development stages, the Bangladesh wind project aims to use near-shore wind turbines off the coast of Cox’s Bazar to provide sustainable energy to Bangladesh's power grid. If approved, the offshore wind farm aims to start operations in 2028 and reduce CO2 emissions by approximately 725,000 tons each year. The wind project, with a 500 MW capacity, aligns with Bangladesh's objective of fossil fuel independence, promoting job creation and bolstering energy stability.
Initiated by the Copenhagen Infrastructure Partners (CIP), a leader in renewable green investments, the CIP is set to work closely with authorities in Bangladesh and other key strategic partners to continue the development of the project. To ensure the initiative is greenlit, necessary analysis work needs to be carried out alongside a series of environmental tests.
Within the global fashion industry, indirect GHG emissions from areas such as material production and manufacturing often constitute 90-95 percent of a company's total emissions. To mitigate these, Bestseller is working with suppliers to set reduction goals and shift towards renewable energy, exemplified by their 2022 initiative aiding Bangladeshi textile manufacturers to invest in solar panels.
