CME Solar Investments partners with responsAbility to ramp up expansion

Thursday, Nov 25, 2021 17:08

Representatives of CME Solar and Swiss ResponsAbility Fund at the online signing ceremony. — Photo courtesy of the firm

CME Solar Investments (CMES), one of the country’s leading renewable energy developers, and responsAbility Investments AG (responsAbility) on Wednesday signed an agreement to received debt financing from the leading impact investment fund - responsAbility.

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

Founded in 2018, CME group has served over 100 clients across 20 industries. In three years since its establishment, over 200 million MWp have been installed and over 2GWh electricity generated each year.

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

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

CMES is fully responsible for 100 per cent of investment, installation, operation, and maintenance of the solar system. Clients use green energy with special prices lower than EVN’s. 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 Centre and Hwaseung Vina.

CMES is also leveraging the advantages of its financing partners to accelerate its expansion plan with Viet Nam Oman Investment Fund and responsAbility.

A rooftop solar project designed by CME Solar and installed at the airport at Tan Son Nhat International Airport in HCM City. — Photo courtesy of the firm

After each installed project, CMES will host charity events in the local area together with clients, including building new schools, providing equipment and masks. “Our goal is to create tangible and measurable impacts in our community. Sustainable growth, decarbonisation, 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 Dieu Tuan, the company’s CEO.

As a leading sustainable asset manager headquartered in Zurich, Switzerland, responsAbility manages US$3.5 billion 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 $10 billion 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. — VNS

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