Singapore-based Clime Capital has invested US$10 million in Vietnamese clean energy startup Nami Distributed Energy.
The Southeast Asia Clean Energy Fund II,rooftop solar and other on-site energy solutions will be made available to Vietnamese commercial and industrial clients.
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In 2019, Nami Energy established Nami Distributed Energy as a subsidiary to support Vietnam’s energy transition. The business offers commercial and industrial clients rooftop solar systems in addition to other on-site energy solutions including battery storage and energy-saving techniques. It gives companies access to more affordable, renewable power without requiring one-time or recurring costs.
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.”
The startup has established energy agreements with well-known domestic and foreign companies around the country, including Capella Land, Regina Miracle foreign, Emivest, Thipha Cable, SNZ (Sonadezi Corporation), and Vicotex (Viet Thang Corporation).
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 coincides with Vietnam’s energy policy breakthrough with the introduction of a new Decree that offers substantial prospects for distributed (direct line) and grid-connected, economically viable renewable energy.
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SEACEF I and SEACEF II are managed by Clime Capital, which is registered with the Monetary Authority of Singapore. The VC firm has locations in Singapore, Vietnam, India, Indonesia, and the Philippines. Levanta, a company that develops wind power, EBOOST, an operator of an open network for charging electric vehicles, and Stride, a company that offers eco-friendly home remodeling projects to homes and small companies, are some of its prior investments in Vietnam.
About Nami
Nami Energy‘s vision, objectives, and strategy to supply renewable energy solutions to clients.They assembled a renewable energy-savvy team of investors and specialists to help Vietnam handle climate change and energy security.
