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Levanta Renewables gains 139.4 MWp of Thai solar projects

Posted on by darion

The portfolio consists of 24 ground-mounted solar farms. Source: UNIKYLUCKK / Shutterstock.

Levanta Renewables, a renewable energy developer and independent power producer in Southeast Asia, announced its first expansion into the Thai market with the acquisition of a portfolio of photovoltaic projects with a total capacity of 139.4 MWp (megawatts peak).

The company, owned by Actis, secured a controlling interest of 90% in the portfolio, previously held by Super Energy Corporation Public and Super Energy Group, which are subsidiaries of Super Energy.

Actis Southeast Asia Energy Director, Rahul Agrawal, said: “I am excited that Levanta will be making its first investment in Thailand, a country with significant renewable energy potential and committed to achieving carbon neutrality by 2050.

“We look forward to leveraging our power generation experience across Asia and implementing our tried and tested playbook to build a utility-scale and C&I (trade and industry) business in Thailand, helping the country transition from fossil fuels to a more sustainable energy future.”

This acquisition is a significant step for Levant, supporting its strategic goal of achieving 1.5 GW of operational capacity across Southeast Asia.

The portfolio includes 24 ground-mounted solar farms located in four provinces.

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Each solar farm has a 25-year power purchase agreement with the Provincial Electricity Authority of Thailand, ensuring long-term revenue stability.

Levanta’s parent company, Actis, has a strong presence in the region, investing in nine power generation companies with an installed capacity of 8.5 GW, including 5.6 GW of renewable energy.

Levanta Renewables CEO Sudhir Nunes said: “Entering the Thai energy sector is an important part of Levanta’s business plan. Earlier this year, we established an office in Bangkok and recruited a local team to deliver C&I solar projects in the country.

“We intend to leverage this acquisition to further pursue greenfield and brownfield opportunities for utility-scale and C&I projects in Thailand. We also look forward to working with Super Energy on this portfolio of projects and look forward to continued business cooperation between the two parties.”