An ACCV factory in Đà Nẵng. ACCV Holdings recently sold its subsidiary, Asia Clean Capital Vietnam Pte. Ltd. to Gresham House. — Photo courtesy of ACCV

ĐÀ NẴNG — ACCV Holdings has entered into an agreement to sell its subsidiary, Asia Clean Capital Vietnam Pte. Ltd. (ACCV Pte), to funds now managed by Gresham House – a UK-headquartered specialist asset manager – on March 11, after the integration of SUSI Partners into its Energy Transition division.

The transaction marks a significant milestone in ACCV Pte’s development and positions the company for its next phase of growth in one of Asia’s most dynamic energy markets.

Founded by Bruce Hicks several years ago, ACCV Pte has grown into one of Việt Nam’s leading commercial and industrial renewable energy developers.

It develops, finances, builds, and operates rooftop solar and other distributed energy infrastructure that helps clients reduce electricity costs, enhance energy security, and meet decarbonisation commitments.

The company has built a high-quality portfolio of operating assets, a robust development pipeline, and long-term partnerships with leading multinational manufacturers. It continuously expands its operating portfolio and development pipeline across Việt Nam’s key industrial regions.

Multinational manufacturers and export-oriented businesses operating in Việt Nam are increasingly focused on energy security, price stability and carbon reduction. As global supply chains continue to prioritise ESG performance, demand for distributed renewable energy solutions is accelerating.

Việt Nam’s economy continues to expand at one of the fastest rates in Southeast Asia, driven by sustained foreign direct investment and export-led industrial growth.

Rising electricity demand, combined with the government’s commitment to decarbonisation and renewable energy, including the rollout of Direct Power Purchase Agreements and the integration of battery energy storage, is creating substantial opportunities for private sector clean energy providers.

ACCV Pte is well positioned to capture this growth.

“This transaction validates the strength of the platform we built,” said Bruce Hicks.

“ACCV Pte has a proven team, strong client relationships, and clear growth visibility. Gresham House brings long-term institutional capital and deep experience in sustainable infrastructure investing. With Gresham House’s support, ACCV Pte is well positioned to scale its operating portfolio, expand its development pipeline and capitalise on emerging opportunities in Việt Nam’s rapidly evolving renewable energy landscape.”

Gresham House is a specialist alternative asset manager, focusing on sustainable investment strategies across infrastructure, real assets, and private equity.

The firm manages capital on behalf of institutional investors with a strong emphasis on long-term value creation and responsible investment.

Wymen Chan, Head of Energy Transition, Asia, at Gresham House, said: “ACCV Pte represents exactly the type of platform we seek to back – a disciplined, market-leading team operating in a structurally high-growth environment.”

"Việt Nam’s rapidly expanding industrial sector, rising energy demand, and supportive renewable energy policy create an outstanding growth backdrop. We are excited to back the team to expand the business, deepen client relationships, and deploy long-term capital into high-quality clean energy assets.”

Following completion, Bruce Hicks will step down from his role. Gresham House will work alongside the existing management team to expand ACCV Pte’s operating portfolio and development pipeline.

With the support of Gresham House’s capital access and infrastructure expertise, ACCV Pte is positioned to accelerate deployment and play a leading role in Việt Nam’s clean energy transition. — VNS