Clime Capital, the Singapore-based fund manager dedicated to accelerating the low carbon transition, and Nami Distributed Energy (Nami), a clean energy company based in Ho Chi Minh City and Hanoi, have announced a US$10 million investment today. This funding, facilitated through the Southeast Asia Clean Energy Fund II (SEACEF II), is set to support Nami’s accelerated growth and positive impact on Vietnamese businesses.
This investment coincides with a significant breakthrough in Vietnam’s energy policy: the introduction of Decree 80/2024/ND-CP on Direct Power Purchase Agreements (DPPA). The new decree opens up substantial opportunities for both distributed (direct line) and grid-connected renewable energy solutions. With this fresh capital, Nami is well-positioned to capitalize on its robust foundation of skilled personnel, sector expertise, and an extensive pipeline of projects to deliver effective rooftop solar and other on-site energy solutions at a larger scale to commercial and industrial clients nationwide.
Nami Distributed Energy, a subsidiary of Nami Energy, was founded by Vietnamese investors with extensive experience in the country’s energy sector. The company’s solar energy solutions, along with battery storage and energy efficiency measures, enable businesses to access low-cost, sustainable power without any upfront or ongoing expenses. Nami is rapidly expanding its project pipeline with large customers and deploying installations across Vietnam.
Luu Hoang Ha, Chairman of Nami Distributed Energy, expressed enthusiasm about the partnership: “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, highlighted Nami’s pivotal role in the region: “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, echoed this sentiment: “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.”
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