Asong Invest, Noble, PVCB Capital sign deal for renewable energy fund

Asong Invest, Noble Vietnam, and PVCB Capital signed a memorandum of understanding on June 23 to cooperate in establishing the PV-Asong Green Growth Investment Fund.

The announcement came during a state visit on June 22-24 by South Korean President Yoon Suk Yeol, at the invitation of his Vietnamese counterpart Vo Van Thuong.

The leaders of Vietnam and Korea, and many businesses from both countries gathered at the Vietnam-RoK Business Forum last Saturday. Photo courtesy of Asong.

The parties involved agree to cooperate in accelerating investment opportunities for Korean investors in Vietnam as well as vice versa.

The "PV-Asong Green Growth Investment Fund" is expected to be established in the third quarter with a target fund size of US$100 million. The fund's investment objects are enterprises operating in the energy sector, renewable energy projects, including solar energy, pumped-storage hydroelectric, and development programs for the carbon credit market in Vietnam.

The parties also agree to cooperate to register projects belonging to the Vietnam-Korea ITMO (Internationally Transferred Mitigation Outcomes) agreement.

Asong Invest is an investment company focusing on impact investment opportunities in Vietnam, with expertise in infrastructure, energy, and real estate financing.

Tran Quang Vinh (PV Capital) and Sung Seung Hoon (Asong Invest) at the MoU. Photo courtesy of Asong.