GSS Bonds

Symbiotics Investments supports solar energy projects in Vietnam through a Green Bond with ecoligo

March 26, 2024

Symbiotics Investments, the leading market access platform for impact investing, has arranged a USD 5 million green bond for ecoligo Vietnam: a subsidiary of ecoligo GmbH, a developer and asset owner of commercial and industrial solar energy projects based in Germany.

With the issuance of this green bond, ecoligo aims at expanding its portfolio by funding the construction of ready-to-build projects developed by the local subsidiary. It also showcases its alignment with the globally recognized International Capital Market Association Green Bond Principles “ICMA GBP”, attracting new international financiers.

ecoligo will use the proceeds of this green bond to invest in new and refinance operating solar projects.

Through this landmark transaction, Symbiotics Investments adopted a flexible project finance approach, enabling ecoligo to scale its operations in Vietnam, its flagship market. We believe ecoligo’s solar solutions hold great relevance for its commercial and industrial clients, particularly within the manufacturing sector, which stands as a pillar of Vietnam’s rapidly growing economy.”, said Thomas Varela, Symbiotics Investments Senior Investments Analyst for Clean Energy.

“By partnering with Symbiotics Investments and leveraging the green bond, we are accelerating our mission to provide accessible solar energy solutions to businesses in Vietnam. This investment not only fuels our growth, but also reinforces our commitment to addressing climate change challenges. We are proud to adhere to the ICMA GBP principles, ensuring transparency, integrity, and environmental sustainability in our financial endeavors as we strive to make a positive impact on both the local economy and the global environment.”, stated Martin Baart, ecoligo CEO and co-founder.

The following SDG is promoted with this bond:

This green bond is issued via Symbiotics sponsored bond issuance platform (Micro, Small & Medium Enterprises Bonds S.A.) under its Sustainable Bond Framework, which was certified in December 2019 and November 2021 by global quality assurance and risk management company, DNV GL. The bond is listed on the Securities Official List of the Luxembourg Stock Exchange and displayed on Luxembourg Green Exchange.

Link to: Sustainable Bond Framework for Symbiotics


About Symbiotics Investments
Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, Symbiotics Investments has originated over 7,700 investments representing more than USD 9.8 billion for 590 companies in 96 countries.

About ecoligo
ecoligo is an impact investment provider that implements solar-as-a-service projects in emerging markets. Founded in 2016 by Martin Baart and Markus Schwaninger, the Berlin-based company is driving the energy transition in eleven countries such as Kenya, Vietnam, and Chile by implementing photovoltaic systems on company buildings. Projects are enabled by committed and environmentally conscious investors who fight the climate crisis with their targeted investments in solar projects while earning significant interest. By supplying commercial and industrial enterprises in the world’s fastest growing economies with solar energy, ecoligo measurably contributes to saving harmful CO₂ and thus actively protects the climate. The fully financed solar-as-a-service projects not only bring ecoligo’s customers financial savings, but also enable them to grow sustainably. The projects signed so far are going to contribute to save over 1.7 million tonnes of CO₂.


For more information, contact:
Roberta Maurutto, Corporate Communication Specialist, Symbiotics

Norbert Op ‘t Land, Head of Marketing, ecoligo GmbH