Berlin-based Mirova has committed EUR9.75 million to Ecoligo to scale its rooftop solar projects in Vietnam. This investment aims to accelerate the country’s transition from fossil fuels to renewable energy as part of its carbon neutrality target for 2050. Ecoligo offers power purchase agreements and lease-to-own options for commercial and industrial clients, supporting sectors like manufacturing, hospitality, and agriculture.
This is the Mirova Gigaton Fund’s first investment in Vietnam, where solar energy adoption has surged to represent 20 per cent of the electricity mix by 2022. With a USD500 million fund targeting clean energy in emerging markets, Mirova has previously financed projects in Africa and Latin America. The European Investment Bank is among its major backers, contributing USD75 million.