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
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.