Swedish firm backs Vietnamese solar energy startup

The Swedish solar investment platform Trine has lent US$ 3 million in a debt financing facility to the Vietnamese solar energy startup Stride. Most of the money will make it possible for the Ho Chi Minh City-based company to expand its capacity to finance customer’s clean-energy installations in Vietnam in partnership with local installers.

The CEO of Stride Andrew Fairthorne said that the debt funding facility helps Stride to accelerate the development of solar energy in Vietnam – a country he believes has “immense renewable energy potential.”

“Our collaboration with Trine aligns perfectly with our mission to reduce the barriers to access solar and batteries for every Vietnamese household, and small- and medium-sized business,” Andrew Fairthorne said.

Vietnam energy targets include 50 percent of residential homes and office buildings using self-produced solar power by 2030. Vietnam has potential to generate 380 gigawatts of capacity, which exceeds the government’ s solar capacity goals.

Source: E27

About Charlotte Nike Albrechtsen

Charlotte Nike Albrechtsen is a journalist working with ScandAsia at the headquarters in Bangkok.

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