Swiss fund manager SUSI Partners, through its Asia Energy Transition Fund (SAETF), has agreed to invest in Asia Clean Capital Vietnam (ACCV), a developer and operator of rooftop and ground-mounted solar photovoltaic (PV) projects for commercial and industrial end clients in Vietnam.
SUSI Partners said in a statement that the investment is structured as a convertible loan, which features a sustainability-linked mechanism tying the interest rate to progress made in relation to transparency and traceability improvements to ACCV’s solar PV procurement process.
As an independent platform launched by the founders of Asia Clean Capital, a leader in the development of clean energy solutions in Asia, ACCV benefits from longstanding experience in the sector and strong origination networks in the region.
Accordingly, ACCV has built a strong near-term project pipeline offering long-term offtake contracts to high-quality commercial and industrial clients in a fast-growing Vietnamese market.
As a global manufacturing center with a significant presence of multinational corporations, Vietnam is proof of how decarbonization targets set by companies and institutional investors around the world create concrete action for an accelerated transition to clean energy.
With a broad array of stakeholders encouraging corporations to decarbonize their operations across the supply chain, the demand for on-site solar PV solutions in Vietnam is rapidly increasing, as local suppliers take action in tandem with their global clients.
The investment in ACCV further complements SAETF’s portfolio which is already well-diversified across utility-scale renewables, energy efficiency and customer-centred clean energy solutions.
SAETF, which targets energy transition infrastructure investments across Southeast Asia, has received capital commitments from development banks, development finance institutions (DFIs), and private investors.
Founded in 2009, SUSI Partners is a Swiss fund manager specialized in sustainable energy infrastructure investments with EUR1.9 billion ($2.07 billion) in capital commitments from institutional investors.
The firm’s investment strategy focusses on private equity and credit opportunities across the energy transition spectrum, including clean energy generation, energy efficiency measures, and solutions enabling clean energy use.
With a successful track record of more than 140 transactions in over 20 countries to date, SUSI Partners seeks to achieve attractive risk-adjusted returns for its clients and their beneficiaries while contributing meaningfully to achieving global climate neutrality.
Asia Clean Capital is a leading Asian clean energy solutions developer, helping international and domestic firms decarbonize their energy supply and meet internal and transnational environmental, social and governance (ESG) targets.
The group has developed over 165MW of commercial and industrial roof-top solar projects in partnership with many of the world’s leading multinationals, and its local and international management teams bring many years of roof-top solar project design, development, and operational experience to Vietnam.
SEACEF invests in Singapore-based solar developer Skye Renewables