Climate Finance Accelerator (CFA) Viet Nam programme

About CFA programme

The Climate Finance Accelerator (CFA) is a global technical assistance programme funded by the UK government to directly support climate projects to access finance.

Since 2020, the CFA has supported more than 200 projects and businesses across ten countries, helping them secure over USD 450 million in investment. Beyond mobilising capital, the CFA convenes businesses, investors, financial institutions, and key national stakeholders to strengthen the enabling environment for climate finance.

15/12/22

Introduction about the CFA programme

50+

deals secured

USD 450M+

investment unlocked

200+

financial institutions participated

In its current phase, CFA programme will be active in ten countries: Viet Nam, Colombia, Indonesia, Malaysia, Pakistan, Thailand, India, Kenya, Mexico, and South Africa. It aims to catalyse the flows of finance needed to deliver countries’ ambitions to limit global warming to 1.5°C and to support the achievement of their Nationally Determined Contributions (NDCs).

Delivery of the CFA in Viet Nam is led by PwC Tax and Advisory (Vietnam). 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 Phase 1 - Cycle 1 ❯

CFA Viet Nam Phase 1 - Cycle 2 ❯

CFA Viet Nam Phase 2 – Cycle 1

CFA Viet Nam Phase 2 – Cycle 1 has been launched. Our Call for Proposals is now open to select a new cohort of climate projects with high mitigation potential and strong investor appeal.

Further details on application criteria and key milestones are provided below.

*This timeline is subject to change.

If you’re interested in joining the programme, please register using the application form below.

*Please note that completing the form is estimated to take 60–120 minutes. As you cannot save your progress partway through the application, we recommend drafting your responses in advance using the PDF that includes all questions below.

CFA Viet Nam Phase 2 - Cycle 1

Application Details

The types of projects the CFA Viet Nam can support

The CFA Viet Nam works with businesses and projects that are present in Viet Nam, actively seeking finance team, and can meet the following criteria:

Measurable climate impact: Designed to achieve measurable climate outcomes in terms of direct or facilitated greenhouse gas emission reductions.
Minimum ticket size: Have a minimum total financing need of at least USD 5 million, with flexibility where sector dynamics, growth stage, or capital-structure needs justify a smaller raise.
Stage of development: Project finance deals must have completed a full feasibility study (a technical and financial assessment confirming engineering design, costs, risks, and viability).
Commercial model: Have a business model capable of generating attractive, risk-adjusted returns over time, although some element of blended or concessional capital may be required in early stages.

Sectoral focus: Provide a solution within priority sectors including, but not limited to:
- Renewable energy: Solar, wind, biomass, BESS, waste-to-energy
- Low-carbon fuels: Green hydrogen, green ammonia
- E-mobility: EV, EV charging, battery swapping, recycling
- Low-carbon manufacturing: Eco-industrial parks/ clusters, green industrial solutions, energy efficiency retrofit
- Sustainable agriculture, forestry, aquaculture: Climate-smart agriculture, aquaculture, low-carbon feedstock, reforestation
- Sustainable construction: Green building materials, energy efficiency retrofit, renewable energy integration
- Waste management: Solid waste management, RDF/Waste-to-energy, wastewater treatment and reclamation, Extended Producer Responsibility
Positive environmental and social outcomes: Propositions should either demonstrate positive environmental and social impacts or show a genuine commitment to meaningfully integrating positive environmental impact, gender equality, disability, and broader social inclusion, recognising that some applicants may still be developing these elements.

Particularly in this phase of the CFA programme, there is an opportunity for CFA projects that are aligned with the USD 15.5bn Viet Nam Just Energy Transition Partnership (JETP) principles to further engage with the JETP toolkit to explore wider sources of finance, technical assistance and policy support. JETP submission and alignment assessment is a separate process that can take place alongside, or following, CFA selection; participation in CFA Phase 2 does not guarantee JETP approval. However, CFA projects that seek to be JETP aligned should consider including JETP principles as part of their CFA submission for maximum opportunity to engage across both UK-supported initiatives. Find out more about JETP here: Viet Nam JETP.

*Please note that the form takes an estimated 60-120 minutes to complete. Because you cannot save your progress partway through your application, we recommend drafting your responses beforehand using the PDF providing all questions below.

If you have any questions or need clarification regarding the application, please submit your inquiries to the email address vn_climate_finance_accelerator@pwc.com by 30 January 2026. Kindly note that we may not be able to respond to queries submitted after this date.

CFA Viet Nam Phase 2 - Cycle 1

How CFA Viet Nam can support your project

The CFA is a practical, deal-oriented programme designed to support businesses and project proponents working on climate mitigation solutions to strengthen their investment cases, sharpen their capital-raising strategies, and engage lenders and investors with greater confidence and credibility. The programme prioritises opportunities with a total financing requirement of at least USD5 million.

The CFA offers a range of capacity-building support, practical tools and materials, and curated connections across the finance ecosystem. The CFA does not act as a transaction adviser or broker, nor does it raise capital on behalf of participants. Instead, by engaging with the CFA, businesses and project developers will receive tailored and fully independent advice that will help them align with investor requirements, prepare more compelling investment documentation, navigate policy and regulatory considerations, and build relationships that support outreach to potential financiers. The result is improved investor readiness, a clearer path to profitability and impact visibility, and a stronger foundation for meaningful investor engagement.

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

Submit your proposal

Curated opportunities to network with investors

The CFA facilitates tailored opportunities for dialogue between selected businesses, project developers, and investors, informed by a clear understanding of investor mandates and risk appetite. Participants are able to connect with commercial and concessional financiers operating nationally, regionally, and internationally, and benefit from structured networking opportunities that enable interaction with relevant investor groups.

Tailored investor-led coaching and best-practice insights

Selected businesses and projects participate in knowledge-sharing sessions and receive tailored support from experienced global and local practitioners on the areas that matter most to financiers: business model robustness, risk mitigation, clarity on the funding ask, and a coherent capital-raising strategy. The CFA supports companies and projects in preparing investment-grade materials, including pitch decks and Environmental, Social and Governance (ESG) Plans, and in strengthening their storytelling and investor-facing communications.

Networking across the climate finance ecosystem

Participants gain opportunities to build relationships not only with investors, but also with other key stakeholders across the market. These include public and institutional partners at national and local levels, corporates, cross-country peers, and other actors within and beyond their domestic markets. These networks help create long-term opportunities that extend beyond the CFA programme itself, and often result in mutually beneficial commercial partnerships.

Increased visibility and credibility

Participation in CFA events can elevate businesses’ and projects’ profiles among a wide range of stakeholders, improving their positioning within the climate-finance ecosystem and strengthening their credibility with potential investors. After completing their acceleration cycle, businesses and projects also benefit from additional exposure through features on the CFA website and highlights across CFA social-media channels.

Stronger ESG and climate-impact narrative

The CFA supports businesses and projects to understand, enhance, and communicate their environmental and social impacts, factors increasingly important to investors alongside commercial returns. Drawing on climate, environmental, and social impact specialists, the CFA helps projects align with national climate ambitions and highlight co-benefits such as poverty reduction; improved gender equality, disability and social inclusion; and the protection of nature and biodiversity, while strengthening awareness of ESG safeguards and risk-management expectations.

How the CFA can work with investors/financiers:

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/financiers, 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 CFA has been established to support project developers and investors/financiers work together to fund low carbon opportunities.

By engaging with the CFA programme, investors/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 investors/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 investors/financiers to see the level of readiness of projects.

CFA Viet Nam Phase 1 - Cycle 1

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.

CFA Viet Nam Phase 1 - Cycle 2

eco-friendly, responsible shrimp farming – using 80% less water, no antibiotics, and protecting the oceans. This is achieved by “recycling” production water, using innovative technologies (hardware and software) to modernise farming practices, and adequately treating wastewater.

provides research, production, and supply of environmentally-friendly biodegradable products from green materials such as starch and cellulose to replace traditional plastics.

domestically manufacturing redox flow batteries and providing reliable energy storage solutions to industrial customers.

With a holistic afforestation - production – biomass power plant ecosystem, CME Biomass aspires to transform traditional slash-and-burn wood production with low economic efficiency to concentrated production, applying advanced science and technology to improve productivity and woods value.

developing a model for cultivating spirulina platensis on an industrial scale, transforming carbon emissions into a high-value nutrient source for humans and livestock. It directly absorbs and reduces a significant amount of carbon dioxide in the atmosphere, thereby indirectly mitigating greenhouse gas emissions throughout the livestock value chain.

creating a sustainable and healthier source of protein from fungi and plants. Combines precision fermentation technology with fungi and plants to create millions of tons of protein which is made into products including fungi/plant-based foods, drinks, confectioneries, snacks and sauces.

providing digital solutions in waste management and recycling in Viet Nam in a more efficient and sustainable way.

in partnership with UPP! UpCycling Plastic - upcycling low-value and difficult to recycle plastic waste at a large scale and low cost into building materials for the local markets; creating planks, poles, and roadside curbs that are cheaper and more durable than products made from wood or cement.

an e-mobility ecosystem for urban transport using electric two-wheelers comprising electric scooters, highly compatible battery pack; automatic battery swapping station; Internet of Things management platform.

TGS Tra Vinh Green Hydrogen/Ammonia Starter Project 2.5 MW produces and sells green hydrogen/ammonia, a clean and sustainable energy, to the industrial, transportation, and energy sectors.

applying biotechnology with a zero-waste mindset to upcycle shrimp by-products into valuable applications with a strong focus on Agriculture by maximising nutrient recovery and minimising resource usage.

Events & Media

Phase 1 - Cycle 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 investors/financiers, projects developers, CFA alumni, business associations, and government representatives from Viet Nam and the UK.

Phase 1 - Cycle 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, investors/financiers, climate experts, government representatives, business associations, and PwC leaders.

Frequently Asked Questions

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

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.

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.

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

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.

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.

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.

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

CFA Viet Nam Phase 2 - Cycle 1

Call for Proposals Close: Thursday, 12 February 2026 at 23:59:00 (Viet Nam time)

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Get in touch

Edward Clayton

Partner, Deals Strategy & Operations, PwC Malaysia

Tel: +60 1 6672 3420

Abhinav Goyal

Director, Capital Projects and Infrastructure, PwC Vietnam

Tel: +84 906 725 575

Giang My Huong

Director, Capital Projects and Infrastructure, PwC Vietnam

Tel: +84 976 065 886

Nguyen Thuy Linh

Manager, Capital Projects and Infrastructure, PwC Vietnam

Tel: +84 90 32 28 580

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Climate Finance Accelerator (CFA) Viet Nam programme