Switzerland’s Fund Provides $20M Loan to Develop Renewable Energy in Vietnam

Swiss responsAbility Investments AG has provided a loan worth $20 million to CME Solar Investment JSC (CME), one of the Vietnamese leading renewable energy developers, to carry out renewable energy projects in Vietnam, state media reported.

The loan marked responsibility’s largest capital support package into non-financial institutions in Vietnam as of 2023, bringing the fund's total investment in CME to date to $32 million.

With the package, CME is expected to further implement a series of projects, with a focus on increasing investment and development of commercial and industrial (C&I) solar energy across many sectors in Vietnam, including manufacturing, electronics, food, beverage, and textiles, while expanding its reach to Southeast Asia.

The Vietnamese firm aims to install 50 megawatts peak (MWp) of solar energy, contributing to reducing 51,200 tons of CO2 emissions annually. (Nhan Dan)