Ho Chi Minh City, Hanoi, and Singapore – July 9, 2024 – Clime Capital, a Singapore-based fund management firm specializing in driving the low-carbon transition, and Nami Distributed Energy (Nami), a specialist provider of distributed energy solutions to C&I customers in Vietnam, headquartered in Ho Chi Minh City and Hanoi, have today announced a strategic investment of USD 10 million. This investment, made through the Southeast Asia Clean Energy Fund II (SEACEF II), aims to facilitate Nami’s rapid growth and enhance its positive impact on businesses across Vietnam.
The investment comes at a pivotal moment, coinciding with Vietnam’s significant energy policy advancements, including the enactment of Decree 80/2024/ND-CP, which establishes the Direct Power Purchase Agreement (DPPA). This policy opens considerable opportunities for both distributed renewable energy (direct line) and grid-connected renewable energy at competitive costs. With this newly secured capital, Nami is strategically positioned to capitalize on its experienced workforce, sector expertise, and expansive project portfolio, enabling it to deliver large-scale rooftop solar and on-site energy solutions to commercial and industrial clients throughout the country.
Nami Distributed Energy is a subsidiary of Nami Energy, founded by experienced Vietnamese investors with substantial expertise in the energy sector. Nami’s solar energy solutions, as well as its other on-site offerings, such as battery storage and energy optimization systems, allow businesses to access sustainable energy at a low cost, without the need for upfront investment or ongoing operational expenses. The company is currently expanding its project portfolio, with numerous large-scale clients and ongoing nationwide installations.
Mr. Luu Hoang Ha, Chairman of Nami Distributed Energy, stated: “We are delighted to partner with Clime Capital to expand the reach of distributed energy solutions and assist more businesses in achieving their carbon reduction and sustainability goals. The investment by Clime Capital underscores their confidence in our team, operational processes, and governance structures, which are integral to our green business mission. This investment, alongside our rapidly expanding project portfolio, positions Nami for future funding rounds and organizational growth. With the Vietnamese government’s commitment to achieving carbon neutrality by 2050, we are ready to collaborate with Clime Capital and other partners to further generate positive impacts for our clients and the environment.”
Mr. Joshua Kramer, Investment Director at Clime Capital, remarked: “Nami is strategically positioned to lead innovation in Vietnam’s rapidly evolving energy market. With the country embracing new opportunities to spearhead the low-carbon transition in Southeast Asia, the SEACEF II investment in Nami is a reflection of our commitment to supporting clean energy businesses with the potential to make transformative impacts in their respective markets.”
Mr. Mason Wallick, Executive Director at Clime Capital, added: “We are honored to support the expansion of Nami Distributed Energy’s pioneering clean energy model in Vietnam. This significant investment not only facilitates the development of competitive renewable energy assets but also accelerates Vietnam’s progress towards its emissions reduction goals for 2050.”
Contact Information
Jeremy Hughes
Smart Word Pte. Ltd.
📞 +61 (0) 468 992 481
✉️ jeremy@smartwordgroup.com
Mason Wallick
Clime Capital Pte. Ltd.
📞 +65 9457 5310
✉️ mason.wallick@climecap.com
Bùi Võ Phương Thảo
Nami Distributed Energy
📞 +84 938331788
✉️ thao.bui@namienergy.com
About Nami Distributed Energy
Nami Distributed Energy, a subsidiary of Nami Energy, was established in 2019 with the objective of advancing the energy transition in Vietnam. The company’s leadership team is comprised of experienced investors and experts who play a pivotal role in shaping renewable energy policies and the energy market in the country.
Nami Distributed Energy is dedicated to promoting sustainable and green growth by offering optimized rooftop solar and on-site energy solutions to commercial and industrial clients, providing both economic and environmental benefits. The company has formed strategic partnerships with several prominent international and domestic corporations, including SNZ (Sonadezi Corporation), Vicotex (Việt Thắng Corporation), Regina Miracle International, Emivest, and Thipha Cable, to deliver distributed solar energy and clean energy solutions for business operations.
🔗 For more information: https://namide.com.vn
About Clime Capital
Clime Capital Management Pte. Ltd. is a fund management company based in Singapore and registered with the Monetary Authority of Singapore (MAS). Clime Capital manages the SEACEF I and SEACEF II funds. The team at Clime Capital consists of senior experts with extensive experience in clean energy investment and development across Southeast Asia, including early-stage project financing, portfolio management, project finance, technical design, operations, and environmental standards.
Clime Capital has a presence in Vietnam, India, Indonesia, the Philippines, and Singapore. Notable past investments in Vietnam include:
- Levanta – Development of three wind energy projects in Central and Central Highlands regions
- EBOOST – Pioneer operator of electric vehicle (EV) charging stations in Vietnam
- Stride – Clean tech company offering environmentally-friendly home retrofitting solution
🔗For more information: https://www.climecap.com/
About SEACEF II
The Southeast Asia Clean Energy Fund (SEACEF) is an investment fund based in Singapore, managed by Clime Capital and supported by several leading international organizations and private investors, including Allied Climate Partners, Australian Development Investments, Global Energy Alliance for People and Planet (GEAPP), Impact Assets, British International Investment (BII), Cisco Foundation, FMO, IFC, Norfund, REI Co-op, and Swedfund International.
SEACEF II aims to accelerate the low-carbon transition in Southeast Asia by investing early-stage capital into high-impact clean energy projects and companies in key markets within the region.
🔗For more information: https://www.seacef.org/