UK-headquartered Gresham House has signed an agreement to acquire Asia Clean Capital Vietnam Pte. Ltd. (ACCV), a Vietnamese commercial and industrial renewable energy developer.

In a Wednesday statement, Gresham House said the acquisition follows its recent purchase of SUSI Partners, whose strategies and teams are incorporated into the asset manager’s energy transition division. In line with the transaction, SUSI Asia Energy Transition Fund (SAETF) will become the sole equity owner of the Vietnam-based company.

The transaction highlighted further progress in Gresham House’s strategy to consolidate and scale platforms within the SAETF portfolio. ACCV is expected to become a key component of the fund’s Southeast Asian commercial and industrial renewable energy platform, OASIS. Other platforms in the fund include SARA, a utility-scale renewable energy company established in partnership with British International Investment and FMO; and Sustainable Energy Solutions Partners (SESP), a waste-to-energy biogas platform in Thailand. The fund has invested in projects across Vietnam, the Philippines, Thailand, and Cambodia.

Gresham House is a global specialist asset manager with €12.2 billion ($14.1 billion) in assets under management, focusing on energy transition infrastructure, sustainable infrastructure and natural capital. Its energy transition division manages €3.1 billion in assets and focuses on mid-market investments across renewable energy, battery storage, energy efficiency and electrification.

Founded in 2020, ACCV has grown into one of Vietnam’s commercial and industrial renewable energy developers, building a portfolio of operating assets and developing a pipeline of projects alongside long-term partnerships with multinational manufacturers. The company provides distributed clean energy solutions to industrial clients across Vietnam, developing, financing, building and operating rooftop solar and other distributed energy infrastructure.

ACCV’s growth has been supported by increasing electricity demand and accelerating decarbonization initiatives in Vietnam, including the rollout of Direct Power Purchase Agreements (DPPA) and the integration of battery energy storage systems (BESS).

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