The Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety One, has committed USD20 million to CME Solarin Vietnam. This investment aims to help CME Solar develop a pipeline of rooftop solar projects, potentially scaling to over 260 MWp. The move supports Vietnam’s green growth objectives and accelerates the energy transition in industries like electronics, textiles, and manufacturing, which are crucial to the country’s economy. With coal accounting for 45 per cent of Vietnam’s energy supply, this initiative is key to reducing carbon emissions and promoting RE adoption, aligning with the nation’s target of 39.2 per cent RE by 2030.
CME Solar, established in 2018, has been providing sustainable energy solutions to businesses, operating over 130MWp. The investment will enable the firm to expand its capacity and enhance its competitive position in the growing C&I solar market.