Norfund is pleased with the progress Norsk Solar has made in Vietnam and we are happy to see yet another Norwegian developer of renewable energy succeed in establishing itself in developing markets, says Inge Stølen, Senior Investment Manager in Norfund.
Norfund, the Norwegian Investment Fund for Developing Countries, has joined Norsk Solar and Finnfund as an equity partner in Nordic Impact Cooperation AS (“NIC”). With the addition of Norfund, the investment capital available for new projects is 19 million EUR.
NIC is an investment platform that provides equity financing in Norsk Solar projects for corporate and industrial energy buyers in select high-growth markets. The NIC platform was established by Finnfund and Norsk Solar in 2021, with a mandate to jointly invest in C&I projects in high-growth markets where access to renewable energy is necessary to support sustainable growth.