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CME Solar Investments Partners responsAbility to Ramp Up Expansion, Bring More Sustainable Values

Ho Chi Minh, Vietnam–(Newsfile Corp. – November 25, 2021) – Driven by the growing importance of sustainability investing and the large opportunity presented by the Vietnam market as well as strong policy supports from the government, several green power developers are gearing up to expand their operations by partnering with global investors who are increasingly evincing interest in Vietnam’s renewable energy.

CME Solar Investments

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Recently, CME Solar Investments (CMES), one of the country’s leading renewable energy developers, has completed the transaction of debt financing from a leading impact investment fund responsAbility Investments AG (responsAbility).

The financing package is to support CMES to promote green power for C&I segment in Vietnam as the company plans to expand a significant number of projects which will allow its clients to directly consume green energy through business model “Zero Cost Investment”.

Founded in 2018, CME Group cements its position in the market with a good track record. So far, the company has served over 100 clients across 20 industries. Only three years since its establishment, over 200 million MWp have been installed and over 2GWh electricity generated each year.

CMES is backed by Vietnam Oman Investment Fund, a sovereign fund established by Oman Investment Authority and State Capital Investment Corporation of Vietnam. The company follows the United Nations Sustainable Development Goals to end poverty, protect the planet and ensure that its development balance social, economic, and environmental sustainability.

As a leading sustainable asset manager headquartered in Zurich, Switzerland, responsAbility manages USD 3.5 bn of assets invested in over 250 fully ESG-managed companies across 68 emerging economies. Since the company’s inception in 2003, responsAbility-managed funds have disbursed more than USD 10 bn in private debt and private equity to companies in the financial inclusion, sustainable food and climate finance sectors whose business models directly support the United Nation’s Sustainable Development Goals.

Virtual Signing Ceremony between CME and responsAbility

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Leveraging strengths to make difference

The renewable energy sector gets wide approbation globally and Vietnam is no exception. As of December 2020, the total installed capacity of solar power across the country reached about 19,400 MWp, according to statistics of Vietnam Electricty.

The three-year-old company provides “end to end solutions” with strong capabilities across the value chain design – engineering – procurement – O&M leads to control over quality, timelines and costs. In addition, thank to advantage of owns warehouses with ready inventories, so CMES avoids the lead time of delivery so all the projects have been completed on time.

Operating under the model of Zero Cost Investment, CMES is fully responsible for 100% of investment, installation, operation and maintenance of the solar system. Clients use green energy with special prices lower than EVN’s price. With those great solutions, CMES has been selected as the developer of many large projects such as Tan Son Nhat International Airport, Adidas R&D Center, Hwaseung Vina, etc.

Besides its strengths, CME is also leveraging the advantages of its financing partners to accelerate its expansion plan with Vietnam Oman Investment Fund and responsAbility.

Sameer Tirkar, Principal Climate Finance APAC for responsAbility added, “our investment in CMES is a clear demonstration of our commitment to sustainable energy. We believe strong partnerships can lower the barriers to green financing. We are bullish on the potential of Vietnam’s solar sector, especially adoption by Commercial & Industrial offtakers who are keen to minimize operational costs, now more than ever before. CMES has carved a leadership position and a commendable client base in Vietnam; we are excited to enable their current phase of expansion. By providing debt to CMES, the Fund will fill an important financing gap in a sector that is essential to achieving both economic and social development.”

Deal signing

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Creating sustainable value

By qualifying for the clean power debt financing, CMES has proven its long-term development goals, implementation capacity and strict compliance with safety, quality, environmental and social (E&S) criteria in every one of its projects.

After each installed project, CME will host charity events in the local area together with clients, including building new schools, providing equipment and provide medicine masks. “Our goal is to create tangible and measurable impact in our community,” said Chung. The CME’s contributions in the journey of developing green energy and creating sustainable value for the community have been recognized by the global experts.

Surpassing over 100 nominations from around Vietnam, CME was named the Solar Project Investor of the Year at the Solar Future Awards Ceremony in Shanghai, China on November 9. In addition, in October, CMES has been chosen as winners of the “The Investor in Solar – Renewable Energy” 2021 at in the Top Strong Brand 2020 – 2021.

The company is capable of satisfying all the high-standard requirements of the category for solar energy investors in terms of construction time, the number of projects installed annually, criteria on health, safety, and environment, etc.

“Sustainable growth, decarbonization, and energy security are key themes for both developed and emerging markets globally. We are on the right path to join other global developers to create a better world,” said Chung.

Contact details:
Contact person: Ms. Khoa
Website: https://cmenergy.vn
Email: khoa.tran@cmenergy.vn

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104826