Swiss specialist investment manager SUSI Partners announced on Friday that it will acquire the operating 39 MW Dam Nai wind farm in Vietnam, along with its associated operating company, from Norway-based renewable energy company Scatec ASA.
This acquisition has been routed through SUSI Asia Energy Transition Fund (SAETF) and is expected to boost its expansion plans in the country.
According to a company statement, the Dam Nai wind farm is set to become a cornerstone asset of SAETF’s utility-scale renewable energy platform Sustainable Asia Renewable Assets (SARA) and serve as an anchor for the pursuit of further utility-scale renewable energy projects in Vietnam.
The Dam Nai wind farm is the first operating project of SARA. This platform consolidates ownership of SAETF’s grid-scale renewable energy projects across the emerging markets of Southeast Asia.
DealStreetAsia had reported earlier that Dutch development bank FMO has proposed to invest up to $30 million in SARA. FMO said it will co-invest alongside SAETF in SARA, which will focus on ready-to-build utility-scale wind and solar assets in Vietnam and the Philippines.
SAETF invests in sustainable energy infrastructure projects in Southeast Asia. Its current portfolio consists of seven investments in Vietnam, the Philippines, Thailand, and Cambodia with a focus on utility-scale renewable energy projects and distributed generation projects on commercial and industrial sites.
In April this year, the firm invested in Alba Renewables, a Singapore-headquartered company that develops, constructs, and operates renewable energy projects across the APAC region for an undisclosed amount. This investment was routed through SAETF.
The investment is expected to help support Alba’s projects in the Philippines as it looks to develop a regional utility-scale renewables platform in the country, stated a media release then.
SUSI Partners currently manages 1.9 billion euros on behalf of institutional investors. The firm earlier made headlines in 2021 when it made the first close of SAETF at $81 million, and subsequently, last year when the final close was announced at $120 million in May.
DealStreetAsia had also reported SUSI Partners’ decision to reopen the fund with its existing LPs evincing interest to increase their allocations in the investment vehicle.
