|Representatives of CME Solar and responsAbility at the online signing ceremony |
The financing package is to support CMES to promote green power for the commercial and industrial segment in Vietnam as the company plans to expand a significant number of projects which will allow its clients to directly consume green energy through the business model “Zero Cost Investment”.
Founded in 2018, CME group has cemented its position in the market with a good track record. So far, the company has served over 100 clients across 20 industries. Only three years since its establishment, over 200 million MWp have been installed and over 2GWh electricity generated each year.
CMES is backed by Vietnam Oman Investment Fund, a sovereign fund established by Oman Investment Authority and State Capital Investment Corporation of Vietnam. The company follows the United Nations Sustainable Development Goals to end poverty, protect the planet and ensure that its development balance social, economic, and environmental sustainability.
As a leading sustainable asset manager headquartered in Zurich, Switzerland, responsAbility manages $3.5 billion of assets invested in over 250 fully ESG-managed companies across 68 emerging economies. Since the company's inception in 2003, responsAbility-managed funds have disbursed more than $10 billion in private debt and private equity to companies in the financial inclusion, sustainable food, and climate finance sectors whose business models directly support the UN Sustainable Development Goals.
|The 'Excellent Solar Investor - Solar Future Awards' in 2021 for CME Solar Investments |
Leveraging strengths to make difference
The renewable energy sector gets wide approbation globally and Vietnam is no exception. As of December 2020, the total installed capacity of solar power across the country reached about 19,400MWp, according to statistics from Electricity of Vietnam (EVN).
The 3-year-old company provides end-to-end solutions with strong capabilities across the value chain (design – engineering – procurement – operation and maintenance) leads to control over the quality, timelines, and costs. In addition, thanks to its advantage of owning warehouses with ready inventories, CMES can reduce the lead time of delivery so all projects have been completed on time.
Operating under the model of Zero Cost Investment, CMES is fully responsible for 100 per cent of investment, installation, operation, and maintenance of the solar system. Clients use green energy with special prices lower than those offered by EVN. With these great advantages, CMES has been selected as the developer of many large projects such as Tan Son Nhat International Airport, Adidas R&D Center, and Hwaseung Vina.
Besides its strengths, CMES is also leveraging the advantages of its financing partners to accelerate its expansion plan with Vietnam Oman Investment Fund and responsAbility.
Creating sustainable value
By qualifying for clean power debt financing, CMES has proven its long-term development goals, implementation capacity, and strict compliance with safety, quality, environmental and social criteria at every one of its projects.
|A solar energy project invested and installed by CME Solar at Thai Hoa Food Company, Soc Trang |
After each installed project, CMES will host charity events in the local area together with clients, including building new schools, providing equipment and masks. “Our goal is to create tangible and measurable impact in our community,” said Chung Dieu Tuan, general director of CMES.
CMES’ contributions in the journey of developing green energy and creating sustainable value for the community have been recognised by various global experts. The company was named the Solar Project Investor of the Year at the Solar Future Awards Ceremony in Shanghai, China on November 9. In addition, in October, CMES has been chosen as the winner of the “The Investor in Solar - Renewable Energy” 2021 at the Top Strong Brand 2020-2021.
The company is capable of satisfying all high-standard requirements for solar energy investors in terms of construction time, the number of projects installed annually, criteria on health, safety, and environment.
“Sustainable growth, decarbonisation, and energy security are key themes for both developed and emerging markets globally. We are on the right path to join other global developers to create a better world,” said Chung.