Dutch development bank FMO has proposed an $8.2 mln investment into Vietnam-based company Indefol Solar to support its clean energy business.
Ho Chi Minh City-headquartered Indefol Solar is currently aiming to develop, construct and operate a portfolio of about 179 megawatt solar power projects with commercial and industrial clients as offtakers in Vietnam, said an FMO disclosure on Wednesday.
“This transaction will be fully green as it involves solar energy generation. The power that will be produced on the roofs of companies will enable the respective companies to decrease their energy bills and increase their green energy footprints,” the Dutch bank said.
“By providing equity, FMO is providing a financial product that is scarce in the market. FMO hopes to further attract the rooftop solar sector in Vietnam to investors.”
The deadline for Indefol Solar to feedback to the FMO proposal is May 6, 2023, the Dutch development bank said.