Crowdfunding in solar installations for Dong Nam Viet Packaging and Thien Nam Elevator (Vietnam)
In 2020 Globalfields invested in small-scale solar installations in two separate projects in Vietnam. This is part of a series of investments incorporate bonds and equity via crowdfunding platforms focused on renewable energy generation.
Dong Nam Viet Packaging in a packaging producer in Vietnam. It is certified to implement environmental and corporate social responsibility standards so intends to begin its switch toward clean energy. Globalfields made an investment in June 2020 in Dong Nam Viet Packaging’s 1,489 kWp Solar PV project located in Bén Cát Town in southern Vietnam. The project is expected to generate 1533 MWh per year and aims to save 25,895 tonnes of CO2 over the lifetime of the project. This is the first of the company’s two solar PV systems for its factory.
Thien Nam Elevator is one of the first and now one of the largest elevator production companies in Vietnam. Globalfields made an investment in June 2020 in a 706 kWp solar PV system for its factory. The project expects to save 601 tonnes of CO2 per year and generate 843 MWh per year.
These two projects directly support the Sustainable Development Goals, specifically SDG 7: Affordable and Clean Energy; SDG 8: Decent Jobs and Economic Growth; SDG 9: Industry, Innovation and Infrastructure; and SDG 13 on Climate Action.
The financing for the projects is done through ecoligo investments, a crowdfunding investment platform with focus in clean energy generation and development. In these transactions in Vietnam, the platform offers fully financed solar-as-a-service solutions for the borrowing companies. With a complete digital platform for fundraising and for development, ecoligo aims to overcome the typical barriers preventing this type of projects, such as lack of financing for smaller-scale investments. As part of the package, it offers companies low-cost solar energy and energy efficiency measures that enable them to grow in an environmentally sustainable manner, which further contributes to the strengthening of the local economy through green job and trainings.
At Globalfields, we believe that crowdfunding in the green finance and business sustainability space is a meaningful and complementary tool to traditional finance, in that it facilitates the bundling of viable projects, it targets local needs and strengthens local environmental governance.
Want to know more?
This case study was written by Marta Simonetti, Founder and Managing Director of Globalfields. Visit Marta's bio or contact us today to discuss this project.