Vietnamese clean energy company Nami Distributed Energy has secured a US$10 million investment from Singapore-based Clime Capital.
This funding, facilitated through the Southeast Asia Clean Energy Fund II (SEACEF II), will be used to deliver rooftop solar and other on-site energy solutions to commercial and industrial customers across Vietnam.
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Luu Hoang Ha, Chairman of Nami Distributed Energy, said: “This investment, along with our extensive and rapidly growing project pipeline, positions us perfectly for the next funding round and expansion.”
Nami Distributed Energy, a subsidiary of Nami Energy, was founded in 2019 to bolster Vietnam’s energy transition. The company provides rooftop solar solutions and other on-site energy solutions, such as battery storage and energy efficiency measures, to commercial and industrial clients. It enables businesses to access lower-cost and sustainable power without upfront or ongoing expenses.
The startup has forged energy partnerships with prominent international and local corporations nationwide, such as SNZ (Sonadezi Corporation), Vicotex (Viet Thang Corporation), Capella Land, Regina Miracle International, Emivest, and Thipha Cable.
Mason Wallick, CEO at Clime Capital, said, “This significant funding provides a double benefit: it will grow competitive renewable energy facilities while also boosting Vietnam’s progress toward its 2050 decarbonisation target.”
The investment comes as Vietnam experiences a breakthrough in energy policy by introducing a new Decree, which creates significant opportunities for distributed (direct line) and grid-connected, cost-effective renewable energy.
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Clime Capital, registered with the Monetary Authority of Singapore, manages SEACEF I and SEACEF II. The VC firm is in Vietnam, India, Indonesia, the Philippines, and Singapore. Its previous investments in Vietnam include Levanta (a wind power development firm), EBOOST (an open network electric vehicle charging operator), and Stride (a provider of households and small businesses with eco-friendly home improvement projects).
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