Clean energy developments of scale confirmed
Clean energy developments of scale confirmed
Vietnamese clean energy companies are pulling in investments from foreign investment funds, demonstrating the potential opportunities in the country’s clean energy sector.
Clean energy developments of scale confirmed, Source: freepik.com |
In early January, the Emerging Africa & Asia Infrastructure Fund (EAAIF), a private infrastructure development group managed by Ninety One, committed to making a $20 million investment in CME Solar, a prominent player in Vietnam’s commercial and industrial solar energy sector. The investment aims to facilitate CME Solar to develop a pipeline of rooftop solar projects, which potentially scale to over 260MWp.
The move contributes to Vietnam’s green growth objectives and expedites the energy transition in key industries like electronics, textiles, and manufacturing, which is vital to the country’s economic growth. Specifically, by providing catalytic capital that will mobilise additional financing needed by CME Solar to roll out their pipeline, this transaction contributes to the uptake of solar-powered technologies along supply chains in Vietnam.
This will enhance business resilience and help companies reach their climate targets and brings the country closer to increasing the share of renewable energy up to 39.2 per cent by 2030, and reaching their net-zero carbon emissions targets by 2050.
Esther Chan, director of Ninety One, the fund manager of EAAIF, said, “Our investment in CME Solar is a testament to EAAIF’s ability to identify and finance infrastructure projects that will transform entire economies through targeted investments in job-creating sectors. The transition of Vietnam’s manufacturing sector to solar energy will significantly reduce carbon emissions in the country while continuing to support the sector’s green growth and economic dynamism.”
Last October, EAAIF announced its expanded mandate to stimulate sustainable infrastructure investment in South and Southeast Asia. The broader scope enables the fund to catalyse transformative infrastructure investment in dynamic growth markets in Africa and Asia, such as Indonesia, Vietnam, and Malaysia to enhance the resilience of vulnerable communities in low- and middle-income countries affected by the climate crisis.
Following the $10 million investment in Nami Distributed Energy in August, Singapore-based venture capital and private equity firm Clime Capital continues to seek new investment targets. Among them, Vietnam is a critical market for the firm in Southeast Asia.
In 2025, Clime Capital targets to make new investments that drive innovative approaches to clear energy adoption across key sectors such as renewable energy, energy efficiency, and electric mobility. These investments will be part of an ongoing mission to accelerate the low-carbon transition in the region.
“We are excited to continue our support for transformative solutions that contribute to Vietnam’s sustainable growth and green energy future,” said Jessica Tran, Clime Capital’s country manager in Vietnam. “Vietnam holds several distinctive advantages in the clean energy sector. The country is also successfully attracting green foreign investment, particularly due to the government’s ongoing efforts to strengthen the regulatory framework. We are confident that with these advancements, Vietnam will continue to lead the region in the clean energy transition.”
According to a report by FiinGroup in November, energy is expected to be one of the most attractive investment sectors in Vietnam thanks to strong potential growth. Renewable energy and liquefied natural gas (LNG) are expected to grow strongly in Vietnam, driven by the growing demand for energy amidst the declining domestic supply of gas.
Energy companies are determined to integrate renewable energy solutions and complete the gas products’ value chain. At the same time, LNG-based electricity and renewable energy are also pivotal to Vietnam’s pledge of net-zero emissions by 2050.
Indeed, Vietnam’s clean energy sector registered high-value investment and dealmaking activities in 2024, including SUSI Partners’ acquisition of the 39MW Dam Nai wind farm from Scatec ASA in October, Levanta Renewables’ acquisition of a rooftop solar system from Tien Nga JSC in July, Sembcorp’s acquisition of three subsidiaries of GELEX in June, and AG&P LNG’s acquisition of a 49 per cent in Cai Mep LNG terminal in March.
“Given the impressive economic performance, Vietnam achieved in 2024, we are confident that the outlook for clean energy investments in the country will remain strong,” noted Tran of Clime Capital. “The combination of a favourable policy environment, robust economic growth, and an increasing focus on sustainability will continue to drive the investment trend in the clean energy sector. As the country advances its green transition, we expect more opportunities to emerge for companies that align with both market needs and national objectives.”
