SUSI, through the SUSI Asia Energy Transition Fund (SAETF), has agreed to provide a convertible loan to Asia Clean Capital Vietnam (ACCV). Financial details were undisclosed.
ACCV has a near-term project pipeline offering long-term offtake contracts to commercial and industrial clients in Vietnam.
SUSI Partners said the investment in ACCV further complements SAETF’s portfolio which is already well-diversified across utility-scale renewables, energy efficiency and customer-centred clean energy solutions.
SAETF, which is backed by development banks AIIB and FMO, Nordic development finance institutions Norfund and Swedfund, and institutional investors from Germany and Singapore, targets energy transition infrastructure investments across Southeast Asia.
Earlier this year, SAETF teamed up with Pacific Impact Development to develop renewable energy assets in Southeast Asia. The partnership launched a platform to develop assets in the Philippines, Vietnam, Indonesia, Cambodia, and other Southeast Asian markets.
The Asia energy transition fund is expected to have a final close before the summer.