MoU signed by BGMEA, Sreda for sustainable energy

On April 1, 2021, the Sustainable and Renewable Energy Development Authority (SREDA), which is part of the Ministry of Power, Energy, and Mineral Resources’ Power Division, and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) signed a Memorandum of Understanding (MoU).

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and the Power Division will cooperate to ensure renewable energy and energy conservation in the industrial sector under the terms of this memorandum of understanding. There will be initiatives to increase energy conservation awareness among BGMEA members.

The agreement would include energy-saving and clean energy capacity building for garment factories. Garment manufacturers will be encouraged to install rooftop solar panels in their factories and will be given the knowledge they need to start a green revolution. Joint ventures will be established to make low-cost loans for readymade garments more accessible and to help the fast-moving industries move closer to sustainability.

On behalf of their organizations, Sreda Secretary Niaz Rahman and BGMEA Secretary Commodore (Retd) Mohammad Abdur Razzak signed the MoU.

Dr Towfique-e-Elahi Chowdhury, Prime Minister’s Energy Adviser was the chief minister at the program, he said that if we can share experiences and technologies with developing countries, it would help our energy sector.

He stressed the importance of energy efficiency, saying that the net metering scheme – a policy mechanism that enables prosumers to link their renewable energy systems to the distribution grid – will help businesses save money on their power bills.

Nasrul Hamid, State Minister for Power, Energy, and Mineral Resources, spoke as a special guest and said that the government is promoting the expansion of renewable energy. He added that strategic plans, rules, and legislation all play an important role in the development of the energy system.

The industrial sector uses 48 percent of total fuel, according to the state minister, with textile and readymade accounting for 30 percent of industrial use. He said that using advanced energy-efficient technologies in the textile and readymade garments sector would take 17.6 percent less fuel – the savings are enormous.

The industrial sector uses 48 percent of the total fuel, according to the state minister, with textile and readymade accounting for 30 percent of industrial use.

“Using advanced energy-efficient technologies in the textile and readymade garments sector would take 17.6 percent less fuel – the savings are enormous.”

BGMEA President, Rubana Huq said that they’re heading towards a future where sustainability will be at the center-point of every business. Energy conservation will, without a doubt, be at the heart of such development. She said that in order to achieve a green revolution, all factories must be converted to green. Rubana suggests that banks, financial institutions, and industries should work together to achieve this.

PM’s Principal Secretary Ahmad Kaikaus, GIZ Country Director Angelika Fleddermann, and Sreda Chairman Mohammad Alauddin also joined the program virtually.