Gresham House has acquired on-site renewables developer Asia Clean Capital Vietnam (ACCV) for an undisclosed price.
Following this latest deal, Gresham House-owned SUSI Partners will see its SUSI Asia Energy Transition Fund (SATEF) become the sole equity owner of the company, having previously invested in it.
Founded in 2020, ACCV has grown into one of Vietnam’s leading commercial and industrial (C&I) renewable energy developers. The company builds and operates renewable energy projects for large global manufacturers, using long-term contracts and battery storage to provide a steady supply of clean power.
Gresham House said that the transaction “marks further progress in [its] strategy to consolidate and scale its platforms within the SAETF portfolio”, with ACCV expected to become a key component of the fund’s Southeast Asian C&I renewable energy platform, OASIS.
Other key platforms in the fund include SARA, a utility-scale renewable energy company established in partnership with British International Investment and FMO, and Sustainable Energy Solutions Partners (SESP), a waste-to-energy biogas platform in Thailand.
To date, the fund has invested in projects in Vietnam, the Philippines, Thailand and Cambodia.
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