Skye Renewables Acquires Fourth Partner Energy’s Vietnam Business To Expand Southeast Asia Solar Presence

Singapore-based clean energy developer Skye Renewables has acquired the Vietnam business of Hyderabad-based Fourth Partner Energy, strengthening its position in Southeast Asia’s growing renewable energy market.

The transaction includes the complete transfer of Fourth Partner Energy’s operational rooftop solar assets, corporate customers, and execution personnel in Vietnam. The acquired portfolio includes several rooftop solar projects developed for major corporate clients such as Delta Galil, Freewell, Vinsmart, Tuico, and KYT.

The acquisition will give Skye Renewables a larger operational footprint in Vietnam at a time when businesses across Southeast Asia are increasingly looking to renewable energy to reduce emissions and meet sustainability goals. Corporate demand for clean electricity is growing as companies seek greater access to reliable and cost-effective green power.

The deal is part of Skye Renewables’ wider expansion strategy across Southeast Asia. The company currently has a presence in markets including Malaysia, Singapore, the Philippines, and Vietnam. It is targeting several hundred megawatts of renewable energy capacity across the region by 2030.

For Fourth Partner Energy, the transaction represents a complete strategic exit from Vietnam after four years of developing and operating on-site solar projects in the country. The company said the decision allows it to redeploy capital and resources towards higher-priority opportunities in its core domestic market of corporate India.

Fourth Partner Energy has established a significant renewable energy portfolio in India, with more than 3.7 GW of installed capacity. The company has set an ambitious target of reaching 9 GW of installed capacity by 2031, supported by continued demand from commercial and industrial customers seeking renewable power solutions.

Despite exiting Vietnam, Fourth Partner Energy will continue its international operations in Bangladesh and Sri Lanka. It will also retain its joint venture in Indonesia with Indika Energy.

The acquisition highlights the continuing consolidation and expansion of the commercial and industrial rooftop solar segment in Southeast Asia. As companies increase their focus on decarbonisation and renewable electricity procurement, clean energy developers are expanding their portfolios through both new project development and strategic acquisitions.

For Skye Renewables, the Vietnam acquisition provides an opportunity to build on an existing operating portfolio and customer base, while Fourth Partner Energy can focus its capital and growth strategy on India and selected international markets.