January 25 (Renewables Now) - Proparco, a subsidiary of French development agency Agence Francaise de Developpement (AFD), said last week it will support GreenYellow’s growth in Thailand, Vietnam and Cambodia via a USD-25-million (EUR 22.2m) investment.
GreenYellow is a French decentralised solar specialist, set up in 2007 and present in 16 countries across Asia, Africa, Europe and South America.
Proparco’s investment will increase the company’s ability to develop solar systems for commercial and industrial clients, mainly food retailers and manufacturing companies, in the three South-East Asian countries.
According to the announcement, the investment will support an estimated 140 MWp of installed solar capacity.
The plans contribute to climate mitigation and the low-carbon transition of the three countries, Proparco said.
“The completion of this transaction confirms the maturity and growth potential of self-consumption solar projects in Thailand, Vietnam, and Cambodia,” said GreenYellow founder and president Otmane Hajji.
(USD 1 = EUR 0.887)