Clime Capital, the Singapore-based fund manager focused on accelerating the low carbon transition, has invested $10 million in Nami Distributed Energy (Nami), the Vietnam-based clean energy company driving innovative distributed energy solutions for commercial and industrial clients.
This investment, facilitated through the Southeast Asia Clean Energy Fund II (SEACEF II), aims to support Nami’s accelerated growth and positive impact on Vietnam businesses, the duo said in a statement on Tuesday.
According to the statement, the investment comes as Vietnam experiences a breakthrough in energy policy with the introduction of Decree 80/2024/ND-CP on Direct Power Purchase Agreements (DPPA).
The Decree creates significant opportunities for both distributed (direct line) and grid-connected cost-effective renewable energy.
With the new investment, Nami is well positioned to leverage its strong foundation of people, sector expertise, and extensive pipeline projects to deliver effective rooftop solar and other on-site energy solutions at larger scale to commercial and industrial customers across the country.
“We are excited to partner with Clime Capital to bring the benefits of distributed energy to a broader range of businesses, helping them achieve their decarbonization and sustainable growth goals,
“Clime Capital’s investment in Nami underscores their confidence in our team, practices, and corporate governance, all central to our green business mission,” said Luu Hoang Ha, Chairman of Nami Distributed Energy.
According to him, this investment, along with the firm’s extensive and rapidly growing project pipeline, positions them perfectly for the next funding round and expansion.
“With the Vietnamese government committed to carbon neutrality by 2050, we stand ready to collaborate with Clime Capital and other stakeholders to create even more positive impacts on our customers and the environment,” he added.
Nami Distributed Energy is a subsidiary of Nami Energy, founded by Vietnamese investors with extensive experience in the Vietnam energy sector.
Its solar energy solutions and other on-site solutions such as battery storage and energy efficiency measures enable businesses to access lower-cost and sustainable power without any upfront or ongoing expenses.
The company is quickly expanding its pipeline projects with large customers and deploying installations nationwide.
It has forged energy partnerships with both prominent international and local corporations across the country such as Sonadezi Corporation （SNZ）, Viet Thang Corporation （Vicotex）, Capella Land, Regina Miracle International, Emivest, Thipha Cable, providing distributed rooftop solar and energy solutions to their manufacturing and business
operations.
“Nami is well positioned to lead innovation in Vietnam’s dynamic and fast-evolving power market at a juncture where the country has introduced new opportunities to lead the low carbon transition in Southeast Asia,
“The SEACEF II investment in Nami underscores how we support clean energy leaders that have the potential to achieve transformational impact in their markets,” said Joshua Kramer, Chief Investment Officer at Clime Capital.
Mason Wallick, Chief Executive Officer at Clime Capital, said they welcome the opportunity to support the expansion of Nami Distributed Energy’s ground-breaking clean energy model in Vietnam.
“This significant funding provides a double benefit of growing competitive renewable energy facilities while also boosting Vietnam’s progress toward its 2050 decarbonization target,” he added.
Clime Capital is a Singapore-headquartered fund management company registered with the Monetary Authority of Singapore. It is the manager of SEACEF I and SEACEF II.
The fund has an on-the-ground presence in Vietnam, India, Indonesia, the Philippines, and Singapore.
Some of its previous investments in Vietnam include Levanta, with three wind power developments in Vietnam’s South Central and Highland regions; EBOOST, the first-mover and market-leading open network electric vehicle (EV) charging operator; and Stride, a cleantech company providing households and small businesses with eco-friendly home improvement projects.
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