Vietnamese company Nami Distributed Energy receives $10 million investment from Clime Capital

Clime Capital, a Singapore-based fund manager dedicated to accelerating the transition to a low-carbon economy, has invested $10 million in Nami Distributed Energy (Nami), a Vietnamese clean energy company that delivers innovative distributed energy solutions to commercial and industrial clients.

The investment, facilitated through the Southeast Asia Clean Energy Fund II (SEACEF II), aims to support Nami’s accelerated growth and positively impact businesses in Vietnam, the duo said in a statement on Tuesday.

According to the statement, the investment comes at a time of breakthrough in Vietnam’s energy policy, which came 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 this new investment, Nami is ideally positioned to leverage its strong workforce, industry knowledge and project experience to deliver cost-effective rooftop solar and other on-site energy solutions on a larger scale to commercial and industrial customers nationwide.

“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 the company’s confidence in our team, practices and corporate governance, which are fundamental to our green business mission,” said Luu Hoang Ha, CEO of Nami Distributed Energy.

According to him, this investment, together with the company’s extensive and rapidly growing portfolio of projects, perfectly prepares it for the next round of financing and expansion.

“With the Vietnamese government committed to achieving carbon neutrality by 2050, we are ready to work with Clime Capital and other stakeholders to make an even greater positive impact 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 Vietnamese energy sector.

Its solar energy solutions and other on-site solutions, such as battery storage and energy efficiency measures, enable businesses to access cheaper, sustainable energy without any upfront or ongoing costs.

The company is rapidly expanding its pipeline projects to include large customers and implementing installations across the country.

It has established energy partnerships with leading 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 solar and rooftop energy solutions to their manufacturing plants and businesses.
operations.

“Nami is well-positioned to lead innovation in Vietnam’s dynamic and rapidly growing energy market as the country introduces new opportunities to lead Southeast Asia’s low-carbon transformation,

“SEACEF II’s investment in Nami demonstrates how we are supporting clean energy leaders who have the potential to achieve transformational impact in their markets,” said Joshua Kramer, Chief Investment Officer at Clime Capital.

Mason Wallick, CEO of Clime Capital, said he was pleased to support the expansion of Nami Distributed Energy’s pioneering clean energy model in Vietnam.

“This significant funding provides the dual benefit of developing competitive renewable energy facilities while also accelerating Vietnam’s progress towards achieving its 2050 decarbonisation goal,” he added.

Clime Capital is a Singapore-based fund management company registered with the Monetary Authority of Singapore. It is the manager of SEACEF I and SEACEF II.

The Fund has local operations in Vietnam, India, Indonesia, the Philippines and Singapore.

The company’s previous investments in Vietnam include Levanta, which has completed three wind farm projects in the central-southern and mountainous regions of Vietnam; EBOOST, a pioneer and market leader in an open electric vehicle (EV) charging network; and Stride, a clean technology company offering eco-friendly home improvement projects to households and small businesses.

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