GreenYellow Vietnam
Fully-funded solar and energy efficiency solutions provider.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
* | $3.0m | Grant | |
| Total Funding | 000k | ||
GreenYellow Vietnam is a subsidiary of the French energy company GreenYellow, which was founded in 2007 by its current president, Otmane Hajji. The Vietnamese branch was established in 2019 and has since become a significant player in the country's energy transition. The company specializes in providing fully-funded, turnkey energy solutions to commercial and industrial clients, enabling them to decarbonize their operations without upfront capital investment.
The company's business model revolves around several key offerings. The primary service is decentralized solar photovoltaic (PV) production through Power Purchase Agreements (PPAs). Under this model, GreenYellow finances, designs, constructs, operates, and maintains rooftop solar systems on their clients' premises. The client then purchases the generated electricity at a competitive price, reducing their energy costs. Another core area is Energy Efficiency Agreements (EEA), where GreenYellow implements solutions such as upgrading lighting, HVAC, refrigeration, and air compressor systems to reduce clients' overall energy consumption. The company also offers services related to Battery Energy Storage Systems (BESS), Electric Vehicle Charging Stations (EVCS), and I-REC carbon credit certifications.
Since entering the Vietnamese market, GreenYellow has experienced rapid growth, recognized internally as the fastest among the 16 countries where the parent company operates. By the end of 2022, the company had acquired the Vietnamese subsidiary of Qair, including a 70% stake in the 49.5 MWp Binh Dinh solar farm, marking its first large-scale utility investment in the ASEAN region. The firm has secured significant financing, including a loan agreement of up to $13.8 million with the Asian Development Bank (ADB) and other partners in September 2023 to develop 32.3 MW of rooftop solar capacity across Vietnam. GreenYellow serves a diverse client base of large commercial and industrial consumers, helping them meet sustainability targets and reduce operational expenses.
Keywords: renewable energy, solar power purchase agreement, energy efficiency, decarbonization, commercial solar, industrial solar, rooftop solar, energy services company, ESCO, battery storage, EV charging, I-REC, sustainable energy, project financing, Vietnam, energy transition, energy management, clean energy, utility-scale solar