Ho Chin Min City, Vietnam – Solarvest Holdings Berhad, a solar energy company, has recently introduced its Powervest solar financing program with the goal of supporting the clean energy transition among Vietnamese businesses. This strategic launch aligns with the DEX Connex Vietnam 2024 programme organised by the Malaysia Digital Economy Corporation (MDEC).
In this launch, the firm provides two fundamental financing options for Vietnamese enterprises, which include Powerflex and Powerlease. According to Solarvest, Powerflex is a versatile option with no upfront investment, allowing companies to fully own their solar PV system with complete financing or opt for shared ownership alongside Solarvest with a 50% funding model.
On the other hand, Powerlease enables companies to lease solar PV systems and purchase the generated electricity at an agreed tariff through the DPPA model.
Furthermore, the company, through its Vietnam entity, has also signed a memorandum of understanding with Malaysian fintech firm FinHero to enhance Powervest’s offering through advanced technologies.
The said agreement was witnessed by Firdauz Othman, Consul General of Malaysia in Ho Chi Minh City, establishing the country’s first fintech-based solar financing platform. This technology streamlines and accelerates financing applications, enabling quicker access to solar financing for businesses in Vietnam.
Dang Khai Hoang, business development director at Solarvest Vietnam, commented, “Powervest provides a timely and practical solution to finance companies keen on adopting solar energy in Vietnam. The program offers tailored financial models designed to make clean energy more convenient, affordable, and accessible for all business sizes.”
“Solarvest has successfully implemented this financing model in Malaysia, with an over 600MW solar asset development pipeline. Leveraging this expertise, we are now extending its innovative financing solutions to support the growing renewable energy demands in Vietnam,” added Hoang.
Top Lim, co-founder and CEO at FinHero, also said, “By integrating our technology, Solarvest customers can submit their financial documents accordingly for a free credit assessment and seek financial advice for their solar PV investment from different sources. This innovation brings Vietnam companies closer to a sustainable future, where renewable energy adoption is easier and more accessible.”
Meanwhile, Anuar Fariz Fadzil, CEO at MDEC, remarked, “MDEC is dedicated to fostering cross-border partnerships that drive innovation and sustainability, particularly through the DEX Connex programme. This initiative provides a pivotal platform for Malaysian companies to collaborate, innovate, and build strong partnerships within Vietnam’s dynamic tech ecosystem.”
“The Powervest programme by Solarvest displays how Malaysian expertise can contribute to Vietnam’s green energy growth and support businesses in adopting sustainable energy solutions. Together, we advance a shared commitment to the growth of our digital economy,” explained Fadzil.
Hoang also shared, “There’s no one-size-fits-all approach for solar PV investment; we are confident that Powervest offers a comprehensive and adaptable solution to meet various financing needs. Through our expertise in the solar sector, Solarvest remains committed to facilitating clean energy solutions for customers in Vietnam.”
