Verdant Energy closes Vietnam’s first C&I solar green bond
We are excited to share a key milestone for Verdant Energy and Vietnam’s renewable energy market.
Verdant Energy has raised VND 792 billion, approximately USD 30 million, in green bonds to support the expansion of our commercial and industrial rooftop solar portfolio in Vietnam. This represents the first certified green C&I solar bond financing in Vietnam and Verdant’s first capital markets issuance globally.
The bonds are supported by a payment default guarantee from GuarantCo, part of the Private Infrastructure Development Group, and carry a 15-year tenor. They will be issued in two tranches within 2026, already fully subscribed by international insurance companies, reflecting strong confidence in Verdant and the long-term commitment for renewable energy in Vietnam.
The proceeds will finance an additional 58 MW of rooftop solar projects for C&I customers across sectors including apparel and manufacturing. These projects will help customers reduce electricity costs and abate more than 31,000 tCO2e annually.
The green bonds are aligned with the ICMA Green Bond Principles and Verdant’s Green Finance Framework, which has been independently reviewed by FiinRatings. The transaction also supports Vietnam’s Power Development Plan VIII and the country’s 2050 net zero ambitions.
We are grateful to GuarantCo, investors, advisers and partners for their support in bringing this transaction to market. We look forward to building on this platform as we continue to scale renewable energy access across Vietnam and Southeast Asia.
Read GuarantCo’s announcement here.