Gresham House, which last year acquired energy transition infrastructure manager SUSI Partners, has signed an agreement to acquire a stake in Vietnamese on-site renewable energy developer Asia Clean Capital Vietnam (ACCV).
The stake was acquired from ACCV Holdings. Further financial details of the transaction were not disclosed.
The deal will see the $259-million SUSI Asia Energy Transition Fund (SAETF), which was previously invested in ACCV, become the sole equity owner of ACCV, Gresham House said in a statement.
ACCV is one of Vietnam’s largest commercial and industrial renewable energy developers, with a portfolio of operating assets, a development pipeline, and long-term partnerships with multinational manufacturers.
The company is expected to become a key component of the SAETF’s Southeast Asian renewable energy platform, OASIS. Other platforms under SAETF 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.
SAETF has invested in projects in Vietnam, the Philippines, Thailand, and Cambodia.
Gresham House, headquartered in the UK, is a global specialist asset manager with 12.2 billion euros in assets under management. Its Energy Transition division is dedicated to mid-market energy transition investments with 3.1 billion euros in assets under management.
