OneTrueValue (OTV) supports this transition through the Off-grid Renewable Energy Fund II (ORE II) — a €20 million equity fund that invests in Energy Service Companies (ESCOs) in Bangladesh.
In a conversation with Willem Grimminck, Director, One to Watch, he shared insights on how OTV is driving the green transformation in Bangladesh’s textile sector.
Textile Focus: How do you see the Green Energy Transformation of Bangladesh’s Textile Sector?
Willem Grimminck: The Bangladesh textile and apparel industry is at a pivotal stage in its green transformation. As the world’s second-largest apparel exporter, it faces increasing pressure from global buyers and EU sustainability regulations to reduce carbon emissions and ensure compliance with international climate standards.
With rising energy costs, import dependence on fossil fuels, and frequent power outages, factories are recognizing solar and energy efficiency as essential for competitiveness and resilience.
We see this transformation as both inevitable and highly investable — a shift toward solar-powered, low-carbon production that not only cuts emissions but also strengthens Bangladesh’s export advantage in a carbon-constrained global market.
Textile Focus: Due to the energy crisis, manufacturers are focusing on solar power investment. How does OneTrueValue support the industry for investment financing?
Willem Grimminck: OneTrueValue (OTV) supports this transition through the Off-grid Renewable Energy Fund II (ORE II) — a €20 million equity fund that invests in Energy Service Companies (ESCOs) in Bangladesh and Nepal.
OTV enables factories to install rooftop solar and battery systems with zero or minimal upfront cost through shared-savings or long-term Power Purchase Agreements (PPAs). Our ESCOs take responsibility for financing, installation, operation, and maintenance — allowing manufacturers to focus on production while saving up to 20–25% on energy costs.
We combine equity, local bank debt, and impact-linked financing to make green investments accessible, de-risked, and scalable for the textile sector.
Textile Focus: What are your core activities for promoting green financing?
Willem Grimminck: Our core activities include:
- Investment in Decarbonization Solutions: Funding solar, battery storage, and energy-efficiency projects for industrial clients.
- Technical Assistance Facility: Providing social due diligence, energy audits, and decarbonization roadmaps to enhance both environmental and social impact.
- Impact-linked Finance Structures: Leveraging blended finance and first-loss coverage to attract private capital into green investments.
- Advisory and Partnerships: Working with international fashion brands, DFIs, and local banks to promote sustainable value chains and facilitate EU compliance for exporters.
Together, these activities make OTV a one-stop partner for green transformation financing in South Asia.
Textile Focus: Any special investment package for SME industries?
Willem Grimminck: Yes. Through our ESCOs, OTV offers flexible, zero-capex models tailored for SMEs that may lack access to traditional bank financing.
Small and medium factories can adopt solar solutions without upfront investment — paying gradually from achieved energy savings. Additionally, through our Technical Assistance Facility, SMEs receive advisory support, training, and capacity building to meet sustainability standards and participate in the global “just transition” to low-carbon production.
Textile Focus: How do you see the Bangladesh market and what is your upcoming planning?
Willem Grimminck: Bangladesh is one of our priority markets — a fast-growing economy with 6–7% annual GDP growth and a government target of 40% renewable electricity by 2041.
OTV already manages a 45 MW solar pipeline in the country under the Greener Garments Initiative (GGI) and has financed several flagship textile projects delivering 20–25% energy cost savings and strong social impact (e.g., Cortz Apparel, Aswad Composite Mills).
Our upcoming plans include:
- Scaling the ESCO model nationwide.
- Partnering with local banks and global buyers to blend finance for decarbonization.
- Expanding our portfolio to battery storage, energy efficiency, and low-carbon heat.
- Preparing for a local IPO of the Bangladesh ESCO, creating a long-term platform for sustainable industrial energy.
Textile Focus: Share with us the Future Vision.
Willem Grimminck: OTV’s long-term vision is to build Asia’s leading decarbonization platform — helping factories compete not just on price, but on verified carbon performance for the European markets.
By 2030, ORE II targets:
- 60,000 tons CO₂ reduced annually
- 3,000 jobs created or protected (50% women)
- €40 million capital mobilized for green industrial transformation
