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Nordic Impact Cooperation AS

Region and country of operations: International, first project in Vietnam
If funding channeled through another company, name of the company and its jurisdiction of registration:
Norsk Solar Vietnam Ltd, established in UK
Jurisdiction of registration: Norway
Business sector: Energy

Date of agreement (month/year): 4/2021
Finnfund’s financing: up to EUR 7,400,000
Share of Finnfund’s financing: 49.33%
Instrument: Tier 2 Sustainability Notes
Size of project/financing: Up to EUR 15,000,000
Environmental and social category: B

Project description

A holding company has been established together with the Norway-based Norsk Solar SA to fund and own power solutions with solar photovoltaic (PV) component for commercial and industrial (C&I) and utility clients with a targeted aggregated capacity of 50 MW in Finnfund’s target markets.

The geographical scope is global. Significant portion of projects is expected to be in C&I projects in Vietnam.

Main development impact

The company will provide commercial and industrial customers with rooftop solar systems that produce cheaper and cleaner electricity than that from the grid.

More information

Nordic Impact Cooperation, owned by Finnfund and Norsk Solar, makes its first investment in Vietnam