Levanta, Actis’ Southeast Asia Renewables Platform, Acquires 139MWp Solar Portfolio in Thailand

Levanta Renewables, Actis’ renewable energy developer and independent power producer in Southeast Asia, has announced the acquisition of a 90% controlling shareholding in a 139.4MWp operating solar project portfolio in Thailand. The projects, acquired from Super Energy Corporation Public Co. Ltd. (“Super Energy”), a prominent Thai renewable energy developer, include 24 ground-mounted solar farms spread across four provinces. Each solar farm operates under a 25-year power purchase agreement with the Provincial Electricity Authority of Thailand.

This investment marks Levanta’s inaugural transaction and entry into the Thai market, signaling a significant step towards achieving its goal of 1.5GW of operating capacity across Southeast Asia.

Sudhir Nunes, CEO of Levanta Renewables, underscored the strategic importance of this move: “Entering the Thai energy sector is a pivotal part of Levanta’s growth strategy. Earlier this year, we established an office in Bangkok and assembled a local team to pursue both utility-scale and commercial-industrial (C&I) solar projects in the country. This acquisition positions us to capitalize on greenfield and brownfield opportunities in Thailand. We are excited to collaborate with Super Energy on this project portfolio and anticipate further business synergies between our organizations.”

Rahul Agrawal, Head of Energy for Southeast Asia at Actis, expressed enthusiasm about Levanta’s debut in Thailand, a country with substantial renewable energy potential and a commitment to achieving carbon neutrality by 2050. “We are eager to leverage our experience in energy generation across Asia and implement our proven strategies to develop utility-scale and C&I businesses in Thailand, facilitating the country’s transition from fossil fuels to a sustainable energy future.”

The acquisition underlines Levanta’s commitment to expanding its footprint in Thailand’s renewable energy sector, supported by the establishment of a local presence in Bangkok.