ecoligo Expands Solar Projects in Vietnam with Mirova's Support

Mirova, an affiliate of Natixis Investment Managers focused on sustainable investing, has committed USD10 million in senior debt financing to Berlin-based ecoligo. This investment will fund greenfield commercial and industrial (C&I) solar rooftop projects in Vietnam, marking Mirova Gigaton Fund 1’s first investment in the region. Ecoligo offers fully financed solar-as-a-service solutions for businesses in emerging markets, providing solar PV systems through PPAs and lease-to-own models for on-grid C&I clients in sectors such as manufacturing, hospitality, agriculture, and healthcare. The financing aims to propel ecoligo’s growth in Vietnam’s rapidly expanding C&I solar energy market. Vietnam's solar capacity has surged significantly, supported by favorable policies like DPPAs and ESCO models, aiding the country’s ambition for carbon neutrality by 2050. Through this investment, ecoligo contributes towards Sustainable Development Goal (SDG) 13, targeting climate change mitigation by enabling industries to adopt renewable energy, thus contributing to Vietnam's net-zero policy and shifting from fossil fuel dependency.