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Ho Chi Minh City, Hanoi, and Singapore – 9 July 2024: Clime Capital, the Singapore-based fund manager focused on accelerating the low carbon transition, and Nami Distributed Energy (Nami), the HCMC- and Hanoi-based clean energy company driving innovative distributed energy solutions for commercial and industrial clients, have jointly announced a US$ 10 million investment today. This investment, facilitated through the Southeast Asia Clean Energy Fund II (SEACEF II), aims to support Nami’s accelerated growth and positive impact on Vietnam businesses.

The investment comes as Vietnam experiences a breakthrough in energy policy 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 the new investment, Nami is well positioned to leverage its strong foundation of people, sector expertise, and extensive pipeline projects to deliver effective rooftop solar and other on-site energy solutions at larger scale to commercial and industrial customers across the country.

Nami Distributed Energy is a subsidiary of Nami Energy, founded by Vietnamese investors with extensive experience in the Vietnam energy sector. Its solar energy solutions and other on-site solutions such as battery storage and energy efficiency measures enable businesses to access lower-cost and sustainable power without any upfront or ongoing expenses. The company is quickly expanding its pipeline projects with large customers and deploying installations nationwide.   

Luu Hoang Ha, Chairman of Nami Distributed Energy, said, “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, said, “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, said, “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.”

-Ends-

For more information, please contact:

 

Jeremy Hughes

Smart Word Pte. Ltd.

T +61 (0) 468 992 481

E jeremy@smartwordgroup.com

 

Mason Wallick

Clime Capital Pte. Ltd.

T +65 9457 5310

E mason.wallick@climecap.com

 

Bui Vo Phuong Thao
Nami Distributed Energy
T  +84 938331788
E thao.bui@namienergy.com

 

About Nami Distributed Energy

Nami Distributed Energy is a subsidiary of Nami Energy founded in 2019 to bolster Vietnam’s energy transition. The company is led by a team of experienced energy investors and professionals who have been instrumental in shaping Vietnam’s policies and markets for the renewable energy sector.

The company promotes green and sustainable growth by providing its commercial and industrial clients with well-crafted rooftop solar solutions and other on-site energy solutions that enhance social and commercial benefits. It has forged energy partnerships with both prominent international and local corporations across the country such as SNZ (Sonadezi Corporation), Vicotex (Viet Thang Corporation), Capella Land, Regina Miracle International, Emivest, Thipha Cable, providing distributed rooftop solar and energy solutions to their manufacturing and business operations.

Find out more at https://namienergy.com/

About Clime Capital

Clime Capital Management Pte. Ltd. (Clime Capital) is a Singapore-headquartered fund management company registered with the Monetary Authority of Singapore. Clime Capital is the manager of SEACEF I and SEACEF II. The Clime Capital team comprises senior professionals with deep Southeast Asian market experience in clean energy investments and developments. The team brings a diversified skill set in early-stage project funding and development, investment and portfolio management, project finance, design and engineering, operations, and environmental safeguards. Clime Capital has an on-the-ground presence in Vietnam, India, Indonesia, the Philippines, and Singapore. Some of the fund’s previous investments in Vietnam 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.

Find out more at https://www.climecap.com/

About SEACEF II

The Southeast Asia Clean Energy Facility (SEACEF) is a Singapore-based fund managed by Clime Capital Management and supported by leading international foundations and private sector investors, including Allied Climate Partners, Australian Development Investments, the Global Energy Alliance for People and Planet (GEAPP), Impact Assets, British International Investment (BII), the Cisco Foundation, FMO, the International Finance Corporation (IFC), Norway’s Norfund, REI Co-op, and Swedfund International. SEACEF II aims to accelerate the low-carbon transition in Southeast Asia by directing early-stage development capital investments into innovative, high-impact clean energy projects and businesses in critical Southeast Asian markets.

Find out more at: https://www.seacef.org/

EldoVina, a South Korean company specializing in the manufacturing of handbag accessories for a leading US brand, has commenced operations of its state-of-the-art 0.65 MWp rooftop solar system.

The rooftop solar system in the first phase, invested by Nami Solar, serves as a testament to EldoVina’s unwavering commitment to reducing its carbon footprint and promoting eco-friendly operations. Not only will it contribute to a cleaner environment, but it will also allow EldoVina to make significant progress in achieving its sustainability goals.

Nami Solar is a respected provider of clean energy solutions, specializing in renewable energy systems such as solar power. With a focus on sustainability and environmental stewardship, Nami Solar assists companies in Vietnam in transitioning towards a clean and efficient energy future.

Nami Solar has completed the construction of a solar PV (photovoltaic) rooftop installation for Regina Miracle International, the world’s leading lingerie designer and manufacturer, to help the company effectively shift to green power.
 
The PV system has a capacity of 1.1 MWp, generating about 1.164 MWh of solar energy for the first operational year and helping reduce 550 tons of carbon dioxide. 
 
The inauguration of the 1.1 MWp rooftop solar system is under Phase I of a Solar Power Purchase Agreement (PPA) recently signed with Regina. Phase II, with another 2.2 MWp of rooftop solar, is set to deliver soon.
 
The project marks a significant milestone in Nami Solar’s bid to help local exporters and manufacturers adopt clean energy technology, echoing the call on the global supply chain to decarbonise and address greenhouse gas emissions.
 
In the past few months, Nam Solar has secured multiple solar PPAs with a total of 15 MWp across the country.

With more specific policy statements on rooftop solar (RTS) development, this week, Nami Energy concluded a series of major RTS PPAs to provide solar energy to large corporates.

Over the past weeks, the Ministry of Industry & Trade (MOIT) and Vietnam Electricity (EVN) have issued policy statements to encourage RTS for on-site consumption. Especially, MOIT proposed to the Government of Vietnam for unlimited capacity of on-site consumption RTS. The industry is set to experience significant growth with ongoing clarification of some pending issues.

On October 4, Nami Solar and ThiPha Cable (the Vietnam business unit of Stark Corporation, a leading global cable manufacturer) entered into a PPA for Phase 1 with 6 MWp rooftop solar at ThiPha Cable’s factories in Long An province. Another 1.5 MWp shall follow in Phase 2. The 20-year PPA shall generate around 10 million kWh solar energy per year and help avoid 150,000 tons of CO2 emission, equivalent to planting 250,000 trees.

Mr. Prakorn Makjumroen, CEO of Stark Corp., and Mr. Luu Hoang Ha, Chairman of Nami Energy, witnessed the signing ceremony. Addressing the event, Mr. Prakorn re-iterated Stark Corp’s strong ESG commitment. He highlighted that Stark’s RTS adoption in Vietnam would make solar energy a key source of its energy consumption, similar to its operations in Thailand and elsewhere.

On October 5, Nami Solar entered into a PPA for 1.8 MWp RTS with Dowaco, the water supply company in Dong Nai Province and a subsidiary of Sonadezi, Nami Energy’s strategic partner.

Earlier, Nami Solar also signed a PPA for 3.3 MWp RTS with Regina Miracle, a listed company on Hong Kong Exchanges (HKEX) and one of the largest FDI investors in Haiphong City.

The team at Nami Solar has been working hard to commission these projects to the plan. With industry experiences and strong technical capabilities, we look forward to collaborating with other corporate partners across the country in the green journey to create both business values and positive social and environmental impacts.

#solarenergy
#cop26
#sustainabledevelopment

Generating business values driven by creating positive impacts on society lies at the heart of what we do.

Last week, Nami Energy Chairman Luu Hoang Ha moderated a panel discussion on capital investment in impact business at Forbes Vietnam Impact Business Summit. Ha and senior experts from IFC, Asian Venture Philanthropy Network (AVPN), and Patamar Capital shared their perspectives on the impact investment market and enablers that should be put in place to facilitate more investment in impact business in Vietnam. This is the first major impact business event in Vietnam helping to inspire local businesses to embark early on the ESG journey and providing a shared platform for both impact investors and businesses to navigate the opportunities that emerge in this new movement.

Since its inception in 2019, Nami Energy has actively supported and led a number of community impact initiatives. Some of these include its multi-year sponsorship of the Chevening Vietnam Career Mentoring Program aimed at helping bright students with leadership potential to be successful and explore their competencies and career anchors, and its Nami and Friends Programme providing financial support to 2,222 local workers during the Covid-19 outbreak in Vietnam in 2021.

#impactbusiness
#saveenvironment
#solarenergy

Nami Energy Chairman Luu Hoang Ha delivered training on energy PPP projects as part of Fulbright School of Public Policy and Management (FSPPM)’s Public-Private Partnership course during 24-26 June.

As a guest lecturer, Ha presented issues and success factors of Vietnam’s gas-fired power projects and analysed the drivers and constraints of key stakeholders. He examined Government Guarantee and Undertakings (GGUs) and the prospect of such GGUs in future energy projects.

Ha also shared his view on the opportunities and challenges of developing PPP offshore wind projects and led an interactive discussion. Through this training, Nami Energy continues contributing its part to developing the human resources needed for a smooth and successful energy transition in Vietnam.

The course is the first executive training that FSPPM has offered to the public, attracting almost 30 participants who are senior and mid-level managers in public and private sectors, NGOs and service providers such as law firms and banks. The training helped participants develop knowledge and skills (financial, regulatory and legal, contractual, risk allocation and management etc.) required for successfully structuring and executing PPP projects in Vietnam.

Initiated by Fulbright University Vietnam, FSPPM is known for its role as an influential policy think tank and its high-quality teaching and research capabilities. Its two unique programs (MPP in Public Policy Analysis and MPP in Leadership and Management) are the only programs in the Southeast Asia region that are accredited by NASPAA (Network of Schools of Public Policy, Affairs, and Administration).

#leadership
#energyPPPprojects

Nami Energy Chairman Luu Hoang Ha attended a conference on bolstering Japanese investment in Vinh Phuc province on 23 June. The participants discussed factors that have been drawing large Japanese investors to the province, including close proximity to Hanoi and Noi Bai airport, the pro-business approaches of the local authorities, rapid development of infrastructure and business ecosystems, and strong support for the energy transition.

Addressing the conference from an energy investor’s viewpoint, Mr Luu Hoang Ha said: “Vinh Phuc has been attractive to Japanese and foreign investors for many years. With investors’ increasing need for clean energy, the 19 industrial parks in Vinh Phuc offer great potential for distributed solar power.”

He added: “Nami Energy and its partners are executing ambitious investment plans on distributed energy such as rooftop solar and battery storage to provide sustainable energy to businesses and help Vinh Phuc become a greener investment destination.”

#investment #energytransition #solarpower

Last week, Nami Energy delivered training in Hanoi on rooftop solar (RTS) solutions for Techcombank and Vietcombank.

The training helps these local banks improve their capabilities in financing renewable energy projects, switching from collateral-based lending to project-based lending.

By better understanding RTS technologies, system operations, and maintenance, credit officers could develop risk assessment and mitigation skills, enabling their banks to provide lower-cost and longer-term funding for RTS investment projects in Vietnam.

The training will be replicated for other local banks as part of Nami Energy’s contribution to developing the ecosystem for the RTS sector.

#rooftopsolar

Singaporean Consul General Roy Kho recently visited Nami Energy to discuss opportunities and potential collaboration between Vietnam and Singapore in the energy sector.

Mr Roy Kho said Singapore, similar to Vietnam, aims to achieve net-zero emissions by 2050. Therefore, Singaporean companies are looking at ways to deliver their clean energy commitments, including adopting solar energy in their operations in Vietnam or making investments in the sector.

“Vietnam and Singapore leaders recently agreed on expanding cooperation in new areas of mutual interest such as the digital economy and green economy – including renewable energy and carbon trading and services”, said Mr Roy Kho.

Mr Luu Hoang Ha, Chairman of Nami Energy, introduced the company and its medium-term business aspirations, highlighting its unique strength in building a solid platform based on human resources capacity and in-depth industry knowledge.

“We are constantly looking for opportunities to grow our business as a distributed energy investor”, said Mr Luu Hoang Ha. “Furthermore, our unique energy consulting arm advises international energy players on entry strategy, public relations, policy advocacy, M&A, joint venture, and project development to accelerate Vietnam’s rapid energy transition.”

Nami is proud to be the gold sponsor of the Chevening Vietnam Career Mentoring Programme (CVCM) – Season 6th for the third year in a row. Over the next six months, nearly 40 talented Vietnamese students will receive one-on-one mentorship across a wide range of job sectors. Not only being the main sponsor of the Programme, several of our senior members of Nami Energy also contribute to this meaningful initiative as mentors.

CVCM is a not-for-profit scheme initiated by Chevening Alumni Vietnam (CAV) in 2016, enhancing Vietnam’s young generation through mentoring Vietnamese talented students in their career orientation and development. Luu Hoang Ha, Chairman of Nami Energy is CVCM’s co-founder and currently sits on the Advisory Board. After five years in operation, CVCM has become one of the top-tier career mentoring programmes in Vietnam, providing 140 bright local students with a life-changing experience to better understand themselves and the industry of their choice.