Yoko Asset Management 2
Based in Singapore, Yoko Asset Management 2 (YAM2) is a self-consumption solar assets platform in Vietnam and Thailand. In 2025, STOA became a shareholder with the aim to contribute to the deployment of these solar plants, supporting private companies in their competitive decarbonization of their energy supply.
Challenges
While the industrial sectors in Vietnam and Thailand are experiencing strong growth and generating increased electricity needs, the energy mixes in both countries are still predominantly dependent on natural gas and coal. However, Vietnam and Thailand have strong potential for solar production. They have implemented policies to increase the share of renewable energies to reduce their dependence on fossil fuels, relying on the private sector.
The Projet
The platform YAM2 is dedicated to operating 189 MWp of self-consumption solar plants, providing commercial and industrial (C&I) customers with access to cheaper and cleaner electricity. The plants were developed by GreenYellow Asia, which has been developing and operating self-consumption photovoltaic projects in Southeast Asia since 2014.
This platform will serve as a growth catalyst for future investments in self-consumption solar projects in Vietnam and Thailand. By combining GreenYellow’s industrial expertise with STOA and DEG’s development financing capabilities, the asset platform aims to strengthen its portfolio and accelerate energy transition efforts in the region, supporting private companies in the decarbonization of their energy supply. STOA and DEG contribution will accelerate the platform expansion to reach 400 MWp of operating plants.
Providing local businesses with clean and affordable electricity
Within this strategic partnership with GreenYellow, STOA brings its recognized expertise in ESG standards, and a strong commitment to impact-driven investments. The deployment of decentralized photovoltaic power plants delivers tangible benefits to local corporates: reduced energy costs, increased energy autonomy, and lower CO₂ emissions. This ensures their industrial competitiveness, which contributes to economic development, but also has an indirect impact on the local population, such as increased purchasing power and job creation.
This transaction enables GreenYellow Asia to continue its expansion in high-growth regions, such as Vietnam and Thailand, in line with its long-term strategy of promoting energy transition in both mature and emerging economies.
Franck Gluck, CEO of GreenYellow Asia
Repères
Company: Yoko Asset Management 2 Ltd
Infrastructures: Solar (C&I)
Geographic Area: Asia (Thailand and Vietnam)
Stake: 29.7%
Depuis : 2025