At ecoligo, all eyes are on Vietnam; a new photovoltaic plant has just been connected to the grid in Ben Cat Town. The special thing about it: at 2MW, it is by far the largest solar plant ever realised by ecoligo and financed by crowdinvestors via ecoligo.investments.

As ecoligo’s first project in Vietnam, it reflects the transformation of the Vietnamese economy towards renewable energy, which is gaining momentum following the country’s excellent crisis management of the Coronavirus pandemic. Thanks to its advantageous location in one of the sunniest regions in the world, the use of solar energy is recognized by many Vietnamese companies as a way to save costs and protect the environment at the same time. Dong Nam Viet Packaging, the company that will use the solar power, is the first of many to benefit from ecoligo’s solar-as-a-service solution.

Thanks to the generation of green solar power on the company’s factory roofs, Dong Nam Viet Packaging will be much less dependent on the purchase of conventionally produced electricity. This will lead to a significant reduction in costs, leaving more financial resources available for investment in the maintenance and growth of the company. On the one hand, this directly benefits the employees, whose jobs are more secure, and on the other hand it brings more stability to the economic situation in the region.

In addition, the ecological improvements resulting from the use of the new photovoltaic system are particularly noteworthy, which will help Dong Nam Viet Packaging to minimize its ecological footprint after the commissioning of the entire plant. For each investment amount of 1,000€ of the crowd investors, 1.06 tons of CO2 are saved annually compared to the use of grid electricity. Each year, the entire solar plant saves 1,722 tons of CO2 – that is about as much as 152 Germans together cause per year. Calculated over the entire life of the solar system, 34,442 tons of CO2 are saved!

The first phase of the project was financed by crowdinvestors on the ecoligo.investments platform in July. Interested investors can now contribute to the second phase, with investments starting from just 100€. More information can be found on the project page.