August Energy and Mega Energy form Vietnam clean energy JV

HO CHI MINH CITY, Vietnam, March 30, 2026 /PRNewswire/ -- August Energy and Mega Energy today announced the formation of August Mega Energy, an exclusive partnership purpose-built to serve the commercial and industrial (C&I) clean energy sector in Vietnam. August Energy, backed by institutional committed capital of up to USD 100 million — comprising equity and debt financing — working with Mega Energy, is targeting >200 MWp of deployed capacity over three years across onsite solar, utility-scale solar farms, and battery energy storage systems (BESS), serving factories, industrial parks, and large commercial facilities nationwide. The exclusive partnership will focus on both new greenfield projects as well as M&A of operating projects and portfolios.

Vietnam has emerged as one of Southeast Asia's most dynamic clean energy markets, driven by surging industrial demand, tightening carbon compliance requirements, and solar power's rapid emergence as the lowest-cost source of power. Yet the C&I segment remains significantly underserved and there is increasing pressure from global supply chain partners to demonstrate credible decarbonisation pathways.

The exclusive partnership will offer clients a full-service model spanning origination, financing, engineering, construction, and long-term operations — with world-class asset engineering and operations, health, safety, and environmental (HSE) standards underpinning every deployment.

Combined, the founding entities bring an active track record spanning multiple countries across Asia, with >500 MWp of solar deployed and/or under development, and a client base that includes multinational manufacturers, industrial park operators, and institutional real estate owners. This depth of operational experience, combined with dedicated Vietnam focus and committed capital base, positions August Mega Energy to move quickly, with discipline, at scale.

Kunal Mehta, CEO, August Energy
"August Energy has built over the last three years, the execution infrastructure - the engineering capability, the relationships, the operating standards — that complex C&I solar and storage projects demand. Partnering with Samresh and his team, brings a level of commercial intensity and on-the-ground execution credibility that is rare in this market - I am confident that together we will build an at scale, profitable platform lasting significance here. Vietnam is a market we know well, and we believe the combination of our development capability with capital creates a genuinely differentiated proposition for C&I customers here. We are open for business and actively looking for our next wave of partners."

Samresh Kumar, CEO, August Mega Energy and CEO, Mega Energy
"Vietnam's C&I energy market is at an inflection point, poised for growth for the next five years. Corporates want clean, reliable, and cost-competitive power - and they want partners who can deliver. August Mega Energy exists to be exactly that partner. We are combining real capital, expertise, on-the-ground presence, and genuine execution capability to scale something meaningful here. Kunal and his team brings the development discipline and engineering rigor this venture demands, with the backing of substantial committed capital signaling the institutional confidence behind what we are building.

I invite industrial parks, factories, EPCs, local banks, and anyone serious about Vietnam's energy transition to reach out and build this market with us."