People
25 short-term jobs in construction and 4 long-term jobs in operations and maintenance will be created.
| Investee Company | CME Solar |
| Sector | Power and Energy |
| Country | Vietnam |
| PIDG Commitment |
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| Dates of EAAIF involvement |
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Viet Nam is one of the world’s most important manufacturing hubs, but its energy supply has been heavily reliant on coal, which has accounted for 45% of the country’s energy in recent years. To meet its ambitious goals of generating nearly 40% of its energy from renewables by 2030 and achieving net-zero by 2050, the country needs to accelerate the energy transition for its key industries, from electronics and textiles to steel, packaging, food & beverage, and broader manufacturing.
PIDG, through EAAIF, provided a USD 20 million debt to CME Solar (CMES), a prominent player in Viet Nam’s Commercial and Industrial (C&I) solar sector. This investment is designed to mobilise the additional financing CME Solar needs to develop its significant pipeline of rooftop solar projects, mainstreaming cost-effective renewable energy technologies that are often more economical than traditional fossil fuel-based sources. The investment in CME Solar supports Vietnam’s green growth ambitions, accelerates its energy transition, and delivers multi-faceted development impact.
25 short-term jobs in construction and 4 long-term jobs in operations and maintenance will be created.
The installed rooftop systems are expected to help avoid 127, 920 tCO2e emissions annually.
The project is expected to demonstrate business resilience of C&I rooftop solar installers, demonstrated through continued business viability and ability to withstand shocks amidst potential continued regulatory uncertainties.
Commercial and industrial clients will be able to reduce cost of their electricity by 16%, representing quantifiable cost savings of USD 369k in 20 years.
