Levanta Renewables, a renewable energy developer and independent power producer in Southeast Asia, owned by Actis, a leading sustainable infrastructure investor, has announced the acquisition of a 90% controlling share in a 139.4MWp operating solar project portfolio in Thailand. The projects were acquired from Super Energy Corporation Public Co. Ltd. and its subsidiary, Super Energy Group Co. Ltd., both leading Thai renewable energy developers with operations in Thailand and Vietnam.
This investment marks Levanta’s first transaction in Thailand and is a significant step towards its goal of achieving 1.5GW of operating capacity across Southeast Asia. The acquired portfolio consists of 24 ground-mounted solar farms located in four provinces of Thailand, each operating under a 25-year power purchase agreement with the Provincial Electricity Authority of Thailand.
Sudhir Nunes, CEO of Levanta Renewables, stated, “Entering the Thai energy sector is a crucial part of Levanta’s business plan. Earlier this year, we established an office in Bangkok and recruited a local team to pursue C&I solar projects in the country. We intend to leverage this acquisition to further pursue greenfield and brownfield opportunities for both utility-scale and C&I projects in Thailand. We are also excited to partner with Super Energy on this project portfolio and look forward to further business collaboration between the two sides.”
Rahul Agrawal, Head of Energy for Southeast Asia at Actis, added, “I’m excited for Levanta to be making this first investment into Thailand, a country with great renewable energy potential and a commitment towards carbon neutrality by 2050. We’re looking forward to leveraging our energy generation experience across Asia and deploying our tried and tested playbook to build a utility-scale and C&I business in Thailand, helping the country transition away from fossil fuels to a more sustainable energy future.”
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