Zug/Ho Chi Minh City – SUSI Partners has reached an agreement with Vietnamese project developer ACCV to expand solar installations. The investment is structured as a convertible loan and includes sustainability criteria.
SUSI Partners is investing in project developer Asia Clean Capital Vietnam (ACCV) through its Asian energy transition fund SAETF. According to a media release, ACCV is a fast-growing developer and operator of rooftop and ground-mounted solar power systems in Vietnam. The Zug-based investment manager’s agreement with ACCV is aimed at expanding solar installations in industry and commerce.
SUSI Partners’ engagement is expected to meet sustainability criteria, according to the release. For example, he said, the investment is structured as a convertible loan and has a mechanism to make the interest rate dependent on transparency progress in the procurement of solar panels. The investment in Vietnam complements SAETF’s portfolio, he said. The fund invests in sustainable energy infrastructure in Southeast Asia.
The Vietnamese market is considered a popular production location, also for multinational corporations. The pressure on companies to operate in a more climate-friendly way along the entire value chain is causing demand for industrial and commercial solar systems in Vietnam to rise sharply, he said.
Regarding SUSI Partners’ new partner ACCV, the company says it was launched by Asia Clean Capital, which focuses on sustainable energy solutions, as an independent platform. This could draw on many years of experience and established networks in the region. In implementing its projects, ACCV relies on long-term offtake agreements with established industrial and commercial customers in the fast-growing Vietnamese market.
Investment manager SUSI Partners, which focuses on the energy transition, was founded in 2009 and has €1.9 billion in capital commitments from institutional investors. More than 140 transactions have been completed to date in over 20 countries. gba
