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Levanta, Actis’ Southeast Asia renewables platform, acquires 139 MWp solar portfolio in Thailand

Posted on by darion

Image of. Source: Canva

Levanta Renewables, a renewable energy developer of Actis and an independent power producer in Southeast Asia, has announced the acquisition of a 90% controlling interest in a 139.4 MWp portfolio of solar projects in Thailand. The projects, acquired from Super Energy Corporation Public Co. Ltd. (“Super Energy”), a leading Thai renewable energy developer, comprise 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.

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The investment marks Levant’s first transaction and entry into the Thai market, representing an important step towards achieving its target of 1.5 GW of operational capacity across Southeast Asia.

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

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

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