The Asian Development Bank has provided a $13.8 million loan to GreenYellow, a startup that undertakes rooftop photovoltaic solar system projects. In a separate development, Bain & Co has opened its first office in Vietnam.
ADB provides $13.8m loan to GreenYellow
The Asian Development Bank (ADB) has provided a $13.8 million loan to GreenYellow Smart Solutions Vietnam Co. Ltd. (GreenYellow) to support its rooftop photovoltaic solar system projects, according to an announcement. The ADB’s loan aims to help increase the supply of clean and affordable solar energy for commercial and industrial consumers in Vietnam.
The financing package comprises a $3 million A loan from ADB’s ordinary capital resources and a $10.8 million parallel loan from FMO, responsAbility Fund, and Société Générale, with ADB as the mandated lead arranger.
“As Asia and the Pacific’s climate bank, ADB is increasingly focused on mobilising private capital to finance renewable energy projects that the region urgently needs,” said ADB director general for Private Sector Operations Suzanne Gaboury.
Established in 2007, GreenYellow is a French energy transition partner, specialising in decentralised solar photovoltaic production, and energy efficiency, storage and monitoring services. It currently operates in 16 countries across Asia, Africa, Europe, and South America, and entered Vietnam in 2019.
Bain & Co opens first Vietnam office
Global management consulting firm Bain & Company has announced the opening of its first office in Vietnam, located in Ho Chi Minh City, led by Andrea Campagnoli.
The new office will facilitate closer collaboration with local businesses and multinational corporations and provide them access to Bain’s extensive global expertise, particularly in the areas of technology, digital innovation and sustainability, it said.
Campagnoli, who is the office head and founding partner of the Bain Vietnam office, is the co-head of Bain’s technology private equity practice for Asia Pacific, and a member of the broader financial investor practice.
The new Vietnam office will allow Bain & Co. to apply its deep understanding of the country’s most critical business issues to help clients achieve extraordinary results.
Globally, Bain is renowned as one of the world’s leading consulting firms. The firm serves more than 60% of the Fortune 500 companies, operating in 40 countries and 65 cities, with a global team exceeding 18,000 professionals.