CFA Viet Nam

Phase 2 has been launched!

The Climate Finance Accelerator (CFA) is a global technical assistance programme funded by the UK government to directly support climate projects to access finance. The CFA operates in nine countries (Viet Nam, Colombia, Nigeria, Mexico, Türkiye, South Africa, Peru, Egypt, Pakistan) with the aim of encouraging the flows of finance required to deliver on countries’ ambition to limit global warming to 1.5°C.

Delivery of the CFA in Viet Nam is led by PwC (Vietnam) Limited. The CFA programme provides project developers with support and training from technical, financial and gender equality and social inclusion experts. It also facilitates knowledge sharing and learning with financial institutions and public bodies, both nationally and internationally. Following the training, CFA Viet Nam will bring project developers and financiers/investors together for an in-country workshop where projects will have the opportunities to meet potential financiers/investors and present their projects.

CFA Viet Nam's Phase 1 was implemented from December 2022 to May 2023 with nine (09) projects selected from a wide range of sectors with the highest potential to provide in-depth capacity building over 2.5 months. An in-country event was subsequently organised in Ha Noi in May 2023 to connect selected project proponents, financiers and investors, government representatives, and other stakeholders.

CFA Viet Nam Phase 2 Call for Proposals is open from 23 August to 04 October 2023. Phase 2 will select 8-10 projects in (but not limited to) the following sectors: Clean Energy and Energy Transition, Energy Efficiency, E-Mobility, Water supply, Decarbonisation of Construction, Wastewater Treatment, Waste Management, Low-Carbon Manufacturing, Agriculture, Forestry, and Other Land Use, and Circular Economy. More information can be found in the Application details section below.

About CFA Viet Nam

How CFA Viet Nam can support your project

CFA Viet Nam is a practical and deal-oriented programme that supports climate projects to improve their bankability and appeal to financiers.

Preparing projects that are attractive to financiers/investors is challenging. Low carbon projects are often perceived as higher risk as new technologies and business models are not widely understood. Regulatory and policy barriers can also create blockages in accessing capital at scale.

The CFA offers a range of support to assist climate mitigation projects in accessing finance. 

Please note that the CFA does not provide financing to projects.

Apply here

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Applications are open until 4 October 2023. Selected projects will be announced in November 2023. Apply here.

Please click here to see the application questions. 

UK Goverment
CFA Climate Finance Accelerator

Capacity building

Project developers will gain valuable insights and develop capabilities to make projects attractive and ready for investors. This includes benchmarking projects against what a bankable / successful project looks like, gaining confidence in speaking to financiers, and learning how to structure project financing. Exchanges of best practices with other CFA countries will also be enabled.

Access to sources of finance

The CFA provides project developers greater opportunities to access finance by working directly with potential investors to understand their needs and develop their projects accordingly. Through the CFA’s reach, project developers have the opportunity to reach commercial and concessional investors, operating both nationally and internationally.

Building networks & raising profile

Project developers will have the opportunity to raise their profile and expand their network with stakeholders across the climate finance landscape, including local and international financiers, policy makers, researchers and other private sector organisations, in addition to a cohort of projects facing similar challenges. The network will provide project developers with long-lasting benefits to current and future low carbon opportunities.

Achieving low carbon objectives

The CFA supports projects to realise and communicate their positive impacts. The CFA has access to climate, sectoral and social impact specialists and can assist projects to support local and national climate ambitions, as well as helping to unlock co-benefits such as poverty reduction, improved gender equality and social inclusion, and tackling biodiversity loss.

Application Details

The types of projects the CFA can support

The CFA supports low carbon projects that are seeking finance. 

Candidate projects should: 

  • Be designed to achieve measurable climate outcomes in terms of direct or facilitated greenhouse gas emission reductions.
  • Come from existing companies in Viet Nam looking to green their product lines and project portfolios or introduction of new innovative low carbon projects in Viet Nam.
  • Have a minimum total financing need of USD5M (there is no limit on the maximum amount of financing). Smaller projects may be considered in special circumstances. Funds or similar structures consisting of multiple smaller projects are also welcomed.
  • Be (at least) at the pre-feasibility stage of development.
  • Have a business model that will generate commercially viable returns in the long-term (although some element of concessional financing may be required initially). 
  • We strongly encourage projects that can demonstrate positive social impacts and how they contribute to furthering gender equality and social inclusion.
  • Sectors which the CFA can support include (but are not limited to):
    • Clean Energy and Energy Transition (including but not limited to Clean energy- onshore wind, offshore wind, rooftop solar; utility scale solar; Biomass, Waste-to-energy; Sustainable fuel, transmission infrastructure/green transmission corridors, repurposing coal plants, new technologies like hydrogen, and pilots on storage/BESS, pumped hydropower storage, fuel blending; Carbon Capture and CCUS and transitional projects with flexible gas and LNG/Gas to power projects); 
    • Energy Efficiency (including but not limited to energy efficiency in buildings, industrial parks, street-lighting, municipal energy efficiency, etc.); 
    • E-Mobility
    • Water supply
    • Decarbonisation of construction (including but not limited to green building, green construction materials, green construction technologies); 
    • Wastewater Treatment
    • Waste Management (including but not limited to plastic recycling); 
    • Low-Carbon Manufacturing (including but not limited to low-carbon manufacturing products, decarbonising manufacturing, and eco-industrial parks and industrial clusters with economical and efficient use of energy/clean energy and resource efficiency technology solutions); 
    • Agriculture, Forestry, and Other Land Use (greening of value chains, Agritech solutions-smart and digital applications); and 
    • Circular Economy
  • Submission language: English and Vietnamese, however submission in English is highly encouraged

For further information on whether your project is suitable, please get in touch here

Apply here


CFA Türkiye

Key dates for CFA Viet Nam

2 August 2023 23 August 2023 4 October 2023 November 2023 November 2023 - March 2024 March 2024
CFA Viet Nam Phase 2 Launch event (HCMC, Viet Nam)

Call for proposals opens

Call for proposals closes  Announcement of selected projects Capacity building for selected projects

CFA Viet Nam In-country event 

* These dates may change.

How the CFA can work with investors:

As we enter a key decade for climate action, both local and international financial institutions are critical in supporting the development and implementation of low carbon projects to achieve national climate commitments.

The flows of climate finance depend on various elements including, crucially, a stock of strong projects being financed by willing investors, with these transactions being supported by a conducive enabling environment. Finance providers often lack familiarity with low-carbon opportunities in these markets, hence have a lower risk appetite or willingness to invest.

The Climate Finance Accelerator (CFA) has been established to support project developers and financiers work together to fund low carbon opportunities. 

Apply here

The Climate Finance Accelerator (CFA)

By engaging with the CFA programme, financiers can benefit from: 

Visibility of low carbon project pipeline

The CFA provides local and international financial institutions in Viet Nam early visibility of, and closer engagement with, a credible pipeline of profitable low carbon projects. The projects supported by the CFA will be socially and environmentally sustainable, contributing to sustainable and inclusive development.

Best practice and capacity building

Local and international financial institutions in Viet Nam that engage with the CFA will benefit from the opportunity to better understand alternative financial mechanisms, such as innovative approaches to blended and green finance, as well as a deeper understanding of where projects are across the ‘climate finance supply chain’ - from project origination, to development, financing and refinancing.

Increased stakeholder networks

The CFA will enable local financial institutions to raise their profile and expand their networks. Deeper contacts will be fostered with other financiers, project developers, government representatives at national and local level, national and international development banks & agencies. The network will provide project developers with long-lasting benefits to current and future low carbon opportunities.

Sharing knowledge and skills

Local and international financial institutions in Viet Nam can share their knowledge and skills with project developers, to support them in building projects that are more investment-ready. This in turn will help financiers to see the level of readiness of projects.

CFA Viet Nam's Phase 1 project cohort

CFA Viet Nam's first project cohort

is a producer of biogas from rice straws using a dry-digestion system. The production of biogas can create energy and a high-grade digestate that can be utilised as a fertiliser.

is a tech company providing automation solutions in the energy and agriculture sectors. CAS has two smart agriculture projects participating in the CFA Viet Nam. Their Circular Rooftop Farming project focuses on developing and implementing advanced solutions for farming on rooftops, urban houses, and building spaces to promote productive green areas in big urban centres. Meanwhile, their Circular Agrisolar Farms seeks to implement high-tech greenhouses using solar and biowaste renewable energy in rural areas.

is Viet Nam’s first domestic electric motorbike company. With a mission to drive mass adoption of green transportation in Viet Nam, Dat Bike’s proposed project aims to manufacture modern, tech-driven electric bikes for the mass market and develop solar-powered battery charging infrastructure.

is a subsidiary of Deep C Industrial Park - an aspiring eco-industrial park in Viet Nam. Deep C Green is looking to expand the installation and operations of rooftop solar panels on tenants’ roofs and through which, enhance energy efficiency and reduce carbon footprint for Deep C Industrial Park.

is a supplier of biogas electricity for livestock farms. With its system of biogas-fueled electricity generators, Egreen can help farms cut biogas emissions and significantly reduce electricity costs.

is a company in industrial waste management using circular economy principles. To increase and enlarge the scope of business, Hoabinh have created a new entity to collect, transport and treat industrial and hazardous waste and trade wastes and products after recycling. This project is an extension of the successful first phase of HoaBinh High Tech Environment JSC.

is implementing a project that focuses on treating and reusing coal-fired power fly ash to produce Autoclaved Aerated Concrete (AAC) bricks and other types of unburnt bricks, which are alternatives to traditional burnt clay bricks, contributing to the decarbonisation of construction materials sector in Viet Nam.

is the manufacturer of bamboo products such as bamboo boards, bamboo panels for flooring and building materials, activated carbon, pellet fuels and handicrafts. The project partners with forestry partners with sustainable cultivation practices and aims to increase the economic value of bamboo across its value chain in the Viet Nam’s Central Highlands.

is a large-scale integrated Vanadium Flow Battery (VFB) producer. The project is VRB Energy’s expansion to Viet Nam. VRB batteries use vanadium electrolyte to store energy and enable wider use of renewable power generation such as wind and solar.

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Events & Media

Phase 2 Launch Event

2 August 2023 - Ho Chi Minh City, Viet Nam

The high-level Launch Event on 2 August 2023 was attended by The Rt Hon Graham Stuart, Member of Parliament, Minister of State for Energy Security and Net Zero (DESNZ) from the UK Government and 100+ in-person and virtual attendees including financiers, projects developers, CFA alumni, business associations, and government representatives from Viet Nam and the UK.

Phase 1 In-country Event

15-16 May 2023 - Ha Noi, Viet Nam

The first-ever CFA Viet Nam In-country Event was organised on 15-16 May 2023 with the participation of 80+ project representatives, financiers, climate experts, government representatives, business associations, and PwC leaders.




Frequently Asked Questions

Does the CFA provide funding for projects?

No. The CFA does not provide or guarantee funding for projects. The CFA facilitates access to suitable investors, and provides capacity building, networking opportunities, and visibility for projects to achieve their low carbon project objectives.

Can the same project developer submit the application for several projects?

Of course! There is no limit to the number of projects that apply to the call for proposals as long they meet the requirements described above.

Will projects developed outside of Viet Nam be considered?

No, projects are only considered in Viet Nam. It is possible for projects with different branches or partner projects in different countries to take part in the CFA, as long as the main project is in Viet Nam. 

Can projects related to specific cogeneration issues be considered?

Yes, cogeneration-related projects are most welcome. Please specify how the project will cause GHG emission reductions.  

Once a proposal has been submitted, can changes be made?

Once the online application has been submitted to the Accelerator, no changes can be made. A new application must be filled out if changes are required and you should notify us by email to consider only one proposal.

Should project with total financing need of less than US$5M apply?

Yes, if you believe your project will make substantial positive impacts to climate in Vietnam. We will consider smaller projects on a case-by-case basis, however projects with finance need of at least US$5M are prioritised.

What financial instruments will be used for each of the projects?

Financial instruments offered by the financiers and investors will depend on the project and its characteristics, and different instruments may be used, such as green bonds, loans, equity investments and public-private partnerships, among others.

Can we submit a proposal at any time during the call for proposals stage?

Yes, but we suggest doing it sooner rather than later as we review proposals on a rolling basis. 

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Get in touch

Edward Clayton

Edward Clayton

Partner, Capital Projects & Infrastructure, PwC Vietnam

Tel: +60 1 6672 3420

Abhinav Goyal

Abhinav Goyal

Director, Capital Projects and Infrastructure, PwC Vietnam

Tel: +84 906 725 575

Giang My Huong

Giang My Huong

Senior Manager, Capital Projects and Infrastructure, PwC Vietnam

Tel: +84 976 065 886

Nguyen Thuy Linh

Nguyen Thuy Linh

Manager, Capital Projects and Infrastructure, PwC Vietnam

Tel: +84 90 32 28 580