Actis’ Levanta acquires 139MWp solar portfolio in Southeast Asia.

By Oliver Townsend Jul 8, 2024
Levanta, Actis’ Southeast Asia Renewables Platform, Acquires 139MWp Solar Portfolio in Thailand.pngOrginal image from:

Levanta Renewables, a leading renewable energy developer and independent power producer in Southeast Asia, has recently made a significant move in the Thai market by acquiring a 90% controlling shareholding in a 139.4MWp operating solar project portfolio in Thailand. This acquisition, from Super Energy Corporation Public Co. Ltd., includes 24 ground-mounted solar farms spread across four provinces. Each farm operates under a 25-year power purchase agreement with the Provincial Electricity Authority of Thailand. This strategic investment marks Levanta’s entry into the Thai market and aligns with their goal of achieving 1.5GW of operating capacity across Southeast Asia.

Levanta’s Strategic Acquisition

The acquisition of the solar project portfolio in Thailand represents Levanta’s strategic approach to expanding its presence in the renewable energy sector. By establishing an office in Bangkok and assembling a local team, Levanta is well-positioned to pursue utility-scale and commercial-industrial (C&I) solar projects in the country. This move underscores Levanta’s commitment to capitalizing on greenfield and brownfield opportunities in Thailand and collaborating with local partners to drive sustainable energy initiatives.

CEO and Head of Energy Express Enthusiasm

Sudhir Nunes, CEO of Levanta Renewables, emphasized the importance of entering the Thai energy sector as a key element of Levanta’s growth strategy. He highlighted the establishment of an office in Bangkok and the formation of a local team dedicated to advancing solar projects in Thailand. Rahul Agrawal, Head of Energy for Southeast Asia at Actis, expressed excitement about Levanta’s debut in Thailand, recognizing the country’s renewable energy potential and commitment to carbon neutrality by 2050. Both leaders are eager to leverage their expertise to drive the transition to sustainable energy in Thailand.

Key Benefits of the Acquisition

Levanta’s acquisition of the solar project portfolio in Thailand not only expands its operational capacity but also strengthens its position in the region’s renewable energy market. By collaborating with Super Energy and local stakeholders, Levanta aims to drive innovation, create business synergies, and contribute to Thailand’s sustainable energy future. This strategic move underscores Levanta’s commitment to expanding its footprint in Southeast Asia and supporting the global transition to clean energy.

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