ADB pledges a $13.8 mln loan to GreenYellow Smart Solutions to promote green

The financing package comprises a $3 million A loan from ADB's regular capital resources and parallel loans totaling $10.8 million from Societe Generale and FMO, a climate fund run by responsAbility Investments AG. ADB is serving as the designated lead arranger for the loans.

Solar PV rooftop provides an effective approach for Vietnam to deploy significant quantities of additional renewable energy capacity while providing customers with dependable, low-cost electricity, which aids in attracting and retaining industry and improving the country's global competitiveness.

This is ADB's first time funding a commercial and industrial solar PV rooftop portfolio in the country.

Rooftop solar panels are a growing source of renewable energy in the country, but their adoption is hampered by high upfront prices and restricted financing options.

With a total installed capacity of up to 32.3 megawatts at its peak, this project is expected to enhance clean energy supply to the industry by at least 31.5 gigatonne-hours per year, resulting in a reduction of 15,530 tons of CO2 emissions by 2025.

Source: VGP