SUSI Partners, through its Asia Energy Transition Fund (SAETF), has agreed to invest in Asia Clean Capital Vietnam (ACCV), a fast-growing developer and operator of rooftop and ground-mounted solar PV projects for commercial and industrial end clients in Vietnam. The investment is structured as a convertible loan, which features a sustainability-linked mechanism tying the interest rate to progress made in relation to transparency and traceability improvements to ACCV’s solar PV procurement process.
As an independent platform launched by the founders of Asia Clean Capital, a leader in the development of clean energy solutions in Asia, ACCV benefits from longstanding experience in the sector and strong origination networks in the region. Accordingly, ACCV has built a strong near-term project pipeline offering long-term offtake contracts to high-quality commercial and industrial clients in a fast-growing Vietnamese market.
As a global manufacturing center with a significant presence of multinational corporations, Vietnam is proof of how decarbonization targets set by companies and institutional investors around the world create concrete action for an accelerated transition to clean energy. With a broad array of stakeholders encouraging corporations to decarbonize their operations across the supply chain, the demand for on-site solar PV solutions in Vietnam is rapidly increasing, as local suppliers take action in tandem with their global clients.
The investment in ACCV further complements SAETF’s portfolio which is already well-diversified across utility-scale renewables, energy efficiency, and customer-centered clean energy solutions. SAETF, which targets energy transition infrastructure investments across Southeast Asia, has received capital commitments from development banks, DFIs, and private investors.