March 28

Press Release: Symbiotics Investments Supports Solar Energy Projects in Vietnam Through a Green Bond With Ecoligo

Symbiotics Investments, the leading market access platform for impact investing, has arranged a USD 5 million green bond for ecoligo Vietnam: a subsidiary of ecoligo GmbH, a developer and asset owner of commercial and industrial solar energy projects based in Germany.

With the issuance of this green bond, ecoligo aims at expanding its portfolio by funding the construction of ready-to-build projects developed by the local subsidiary. It also showcases its alignment with the globally recognized International Capital Market Association Green Bond Principles “ICMA GBP”, attracting new international financiers.

ecoligo will use the proceeds of this green bond to invest in new and refinance operating solar projects.

Through this landmark transaction, Symbiotics Investments adopted a flexible project finance approach, enabling ecoligo to scale its operations in Vietnam, its flagship market. We believe ecoligo’s solar solutions hold great relevance for its commercial and industrial clients, particularly within the manufacturing sector, which stands as a pillar of Vietnam’s rapidly growing economy.”, said Thomas Varela, Symbiotics Investments Senior Investments Analyst for Clean Energy.

“By partnering with Symbiotics Investments and leveraging the green bond, we are accelerating our mission to provide accessible solar energy solutions to businesses in Vietnam. This investment not only fuels our growth, but also reinforces our commitment to addressing climate change challenges. We are proud to adhere to the ICMA GBP principles, ensuring transparency, integrity, and environmental sustainability in our financial endeavors as we strive to make a positive impact on both the local economy and the global environment.”, stated Martin Baart, ecoligo CEO and co-founder.

The following SDG is promoted with this bond: SDG 7

This green bond is issued via Symbiotics sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainable Bond Framework, which was certified in December 2019 and November 2021 by global quality assurance and risk management company, DNV GL. The bond is listed on the Securities Official List of the Luxembourg Stock Exchange and displayed on Luxembourg Green Exchange.

Link to: Sustainable Bond Framework for Symbiotics

Photo courtesy of Marufish.

Source: Symbiotics (link opens in a new window)

Environment, Investing
impact bonds, impact investing, MSMEs, renewable energy, solar