Clime Capital, a Singapore-based fund manager specializing in accelerating the low carbon transition, has made a significant investment of $10 million in Nami Distributed Energy (Nami). This Vietnam-based clean energy company is known for its innovative distributed energy solutions tailored for commercial and industrial clients.
Investment to Propel Growth and Impact
The investment, facilitated through the Southeast Asia Clean Energy Fund II (SEACEF II), is set to support Nami’s accelerated growth and its positive impact on Vietnamese businesses. This strategic partnership was announced in a joint statement on Tuesday.
According to the statement, the timing of this investment is crucial, as Vietnam is undergoing a transformative period in its energy policy. The recent introduction of Decree 80/2024/ND-CP on Direct Power Purchase Agreements (DPPA) marks a significant breakthrough, creating vast opportunities for both distributed (direct line) and grid-connected renewable energy solutions.
Key Aspects of the Investment:
- Investor: Clime Capital
- Investment Amount: $10 million
- Recipient: Nami Distributed Energy
- Fund: Southeast Asia Clean Energy Fund II (SEACEF II)
- Objective: Support accelerated growth and positive impact on Vietnam’s businesses
Impact of Decree 80/2024/ND-CP
The Decree 80/2024/ND-CP on DPPA is a game-changer for Vietnam’s energy landscape. It facilitates the growth of cost-effective renewable energy projects by enabling direct power purchase agreements. This policy shift opens the door for a more dynamic and competitive energy market, fostering the development of sustainable energy solutions.
With Clime Capital’s investment, Nami is poised to leverage its robust foundation, sector expertise, and extensive pipeline projects. This will enable the company to deliver effective rooftop solar and other on-site energy solutions on a larger scale to commercial and industrial customers across Vietnam.
Nami’s Strategic Positioning
Luu Hoang Ha, Chairman of Nami Distributed Energy, expressed his enthusiasm about the partnership with Clime Capital. “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,” he said.
He further highlighted that Clime Capital’s investment underscores confidence in Nami’s team, practices, and corporate governance, which are central to the company’s green business mission. This substantial investment, along with Nami’s extensive and rapidly growing project pipeline, positions the company perfectly for the next funding round and expansion.
Commitment to Carbon Neutrality
Vietnam’s government has committed to achieving carbon neutrality by 2050. Nami Distributed Energy is prepared to collaborate with Clime Capital and other stakeholders to create even more positive impacts on customers and the environment. This collaboration is seen as a vital step towards helping Vietnam meet its ambitious decarbonization targets.
Nami Distributed Energy: A Pioneer in Clean Energy
Nami Distributed Energy is a subsidiary of Nami Energy, founded by Vietnamese investors with extensive experience in the Vietnam energy sector. The company offers a range of solar energy solutions and other on-site energy solutions such as battery storage and energy efficiency measures. These solutions enable businesses to access lower-cost and sustainable power without upfront or ongoing expenses.
The company is rapidly expanding its pipeline projects with large customers and deploying installations nationwide. Nami has established energy partnerships with both prominent international and local corporations across the country. Some notable partners include Sonadezi Corporation, Viet Thang Corporation, Capella Land, Regina Miracle International, Emivest, and Thipha Cable. These partnerships provide distributed rooftop solar and energy solutions to their manufacturing and business operations.
Table: Key Partnerships and Projects
| Partner | Type of Solution | Industry |
|---|---|---|
| Sonadezi Corporation (SNZ) | Distributed Rooftop Solar | Industrial Parks |
| Viet Thang Corporation (Vicotex) | Distributed Rooftop Solar | Textile Manufacturing |
| Capella Land | Distributed Rooftop Solar | Real Estate |
| Regina Miracle International | Distributed Rooftop Solar | Apparel Manufacturing |
| Emivest | Distributed Rooftop Solar | Livestock Feed |
| Thipha Cable | Distributed Rooftop Solar | Cable Manufacturing |
Bullet Points: Strategic Advantages of the Investment
- Enhanced Market Position: The investment strengthens Nami’s position in Vietnam’s dynamic energy market.
- Scalability: Enables the scaling of rooftop solar and on-site energy solutions.
- Sustainability Goals: Supports businesses in achieving decarbonization and sustainable growth.
- Policy Alignment: Aligns with Vietnam’s DPPA policy, fostering renewable energy development.
- Future Growth: Positions Nami for future funding rounds and expansion.
Supporting Vietnam’s Energy Transition
Joshua Kramer, Chief Investment Officer at Clime Capital, emphasized the strategic importance of investing in Nami at this juncture. “Nami is well positioned to lead innovation in Vietnam’s dynamic and fast-evolving power market at a time when the country has introduced new opportunities to lead the low carbon transition in Southeast Asia,” he said.
Mason Wallick, Chief Executive Officer at Clime Capital, echoed this sentiment. He highlighted that the SEACEF II investment in Nami underscores their commitment to supporting clean energy leaders with the potential to achieve transformational impacts in their markets.
Clime Capital’s Broader Impact in Vietnam
Clime Capital, headquartered in Singapore, is registered with the Monetary Authority of Singapore and manages SEACEF I and SEACEF II. The fund maintains an on-the-ground presence in Vietnam, India, Indonesia, the Philippines, and Singapore. This regional presence enables Clime Capital to support and invest in promising clean energy initiatives effectively.
In addition to the investment in Nami, Clime Capital has made significant investments in other Vietnamese clean energy projects. These 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.
Conclusion
The $10 million investment by Clime Capital in Nami Distributed Energy represents a significant step forward in Vietnam’s clean energy transition. By leveraging this investment, Nami is well-positioned to expand its innovative energy solutions, supporting businesses in their decarbonization efforts and contributing to Vietnam’s 2050 carbon neutrality goal. As Vietnam continues to evolve its energy policies and market dynamics, partnerships like this will be crucial in driving the country’s low carbon transition and fostering sustainable growth.
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