The recent introduction of the Direct Power Purchase Agreement (DPPA) framework in Vietnam has increased the interest of local companies in more competitive energy sources. Despite this growing enthusiasm, the high initial costs of photovoltaic (PV) systems remain a major barrier to their adoption.
To address this challenge, Solarvest Holdings Berhad, a company specializing in energy solutions, presented its Powervest program in Vietnam at the DEX Connex Vietnam 2024 event, organized by Malaysia Digital Economy Corporation (MDEC).
Powervest offers two main financial options suitable for businesses:
– Powerflex: Provides full or partial financing (50%), allowing businesses to become co-owners of the solar system with Solarvest.
– Powerlease: allows companies to rent solar installations and pay for the electricity produced at a negotiated rate according to the DPPA model.
Dang Khai Hoang, Business Development Director at Solarvest Vietnam, said: “These solutions are designed to remove financial barriers that prevent businesses from accessing solar systems in Vietnam. »
Technology partnership with Finhero
To further improve accessibility, Solarvest has partnered with Finhero, a financial technology company based in Malaysia. The Finhero platform incorporates technology that simplifies the financing application process. Businesses can submit their financial documents online for a free credit assessment and receive advice on their solar investments.
The signing of a Memorandum of Understanding (MoU) between Solarvest and Finhero, in the presence of the Consul General of Malaysia in Ho Chi Minh City, Mr. Firdauz Othman, marked a key milestone in this project.
Top Lim, co-founder and CEO of Finhero, explained: “By automating and accelerating administrative processes, our platform helps businesses make faster and more efficient financial decisions.
A program supported by MDEC
The initiative is also supported by MDEC’s DEX Connex program, which facilitates partnerships between Malaysian and Vietnamese businesses. According to MDEC CEO, Mr. Anuar Fariz Fadzil, “This collaboration is an excellent example of cross-border cooperation, providing Vietnamese businesses with solutions tailored to their specific needs while strengthening regional economic relations.”
With an active presence in eight countries in the Asia-Pacific region and a solar portfolio totaling 1,300 MW, Solarvest aims to establish itself as a major player in the financing and integration of photovoltaic solutions in Vietnam’s business sector.