SUSI Partners, on behalf of the SUSI Asia Energy Transition Fund (SAETF), has signed an agreement to acquire the 39 MW Dam Nai wind farm located in the Vietnam province of Ninh Thuận from Norwegian-based renewable energy company Scatec ASA.

SUSI Partners said in a statement on last Friday SAETF will also take over Scatec’s Vietnam-based operating company to facilitate a further expansion in the country.

The Dam Nai wind farm will become a cornerstone asset of SAETF’s utility-scale renewable energy platform Sustainable Asia Renewable Assets (SARA).

Together with the associated operating company, it will provide an anchor for the development, construction, and operation of further utility-scale renewable energy projects in nearby regions.

SARA consolidates ownership of SAETF’s grid-scale renewable energy projects across the emerging markets of Southeast Asia.

As the first operating project of the platform, Dam Nai adds crucial scale to the platform and provides access to a growing and increasingly liberalized Vietnamese utility-scale renewables market.

SAETF invests in sustainable energy infrastructure projects in Southeast Asia.

Its current portfolio consists of seven investments in Vietnam, the Philippines, Thailand, and Cambodia with a focus on utility-scale renewable energy projects and distributed generation projects on commercial and industrial sites.

SUSI Partners is an independent, specialist investment manager providing institutional investors with access to mid-market private infrastructure opportunities arising from the global energy transition.

With over 15 years of activity and EUR 1.9 billion ($2.1 billion) invested in more than 25 countries to date, the firm has a proven track record across the energy transition investment theme, achieving attractive risk-adjusted returns for its clients and their beneficiaries while contributing to global climate change mitigation efforts.

SUSI Partners invests in buildout of utility-scale renewables projects in the Philippines