Ho Chi Minh City, Hanoi, and Singapore – 9 July 2024: Clime Capital, the Singapore-based fund manager focused on accelerating the low carbon transition, and Nami Distributed Energy (Nami), the HCMC- and Hanoi-based clean energy company driving innovative distributed energy solutions for commercial and industrial clients, have jointly announced a US$ 10 million investment today. 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 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.
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.
Luu Hoang Ha, Chairman of Nami Distributed Energy, said, “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 decarbonisation 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. This investment, along with our extensive and rapidly growing project pipeline, positions us 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.”
Joshua Kramer, Chief Investment Officer at Clime Capital, said, “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.”
Mason Wallick, Chief Executive Officer at Clime Capital, said, “We 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 decarbonisation target.”
For more information, please contact:
Jeremy Hughes
Smart Word Pte. Ltd.
T +61 (0) 468 992 481
Mason Wallick
Clime Capital Pte. Ltd.
T +65 9457 5310
Bui Vo Phuong Thao
Nami Distributed Energy
T +84 938331788
About Nami Distributed Energy
Nami Distributed Energy is a subsidiary of Nami Energy founded in 2019 to bolster Vietnam's energy transition. The company is led by a team of experienced energy investors and professionals who have been instrumental in shaping Vietnam's policies and markets for the renewable energy sector.
The company promotes green and sustainable growth by providing its commercial and industrial clients with well-crafted rooftop solar solutions and other on-site energy solutions that enhance social and commercial benefits. It has forged energy partnerships with both prominent international and local corporations across the country such as SNZ (Sonadezi Corporation), Vicotex (Viet Thang Corporation), Capella Land, Regina Miracle International, Emivest, Thipha Cable, providing distributed rooftop solar and energy solutions to their manufacturing and business operations.
Find out more at https://namienergy.com/
About Clime Capital
Clime Capital Management Pte. Ltd. (Clime Capital) is a Singapore-headquartered fund management company registered with the Monetary Authority of Singapore. Clime Capital is the manager of SEACEF I and SEACEF II. The Clime Capital team comprises senior professionals with deep Southeast Asian market experience in clean energy investments and developments. The team brings a diversified skill set in early-stage project funding and development, investment and portfolio management, project finance, design and engineering, operations, and environmental safeguards. Clime Capital has an on-the-ground presence in Vietnam, India, Indonesia, the Philippines, and Singapore. Some of the fund’s 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.
Find out more at https://www.climecap.com/
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