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ACTIS-backed Levanta Renewables makes first investment in Thailand, acquiring 139 MWp solar portfolio

Posted on by darion

Levanta Renewables, a renewable energy developer and independent power producer in Southeast Asia, owned by Actis, a leading investor in sustainable infrastructure, announced the acquisition of a 90% controlling interest in a 139.4 MWp portfolio of solar projects in Thailand. The projects were acquired from Super Energy Corporation Public Co. Ltd. and its subsidiary, Super Energy Group Co. Ltd., which are leading Thai renewable energy developers with operations in Thailand and Vietnam.

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This investment marks Levant’s first transaction in Thailand and is a significant step towards achieving 1.5 GW of operational 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.

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Sudhir Nunes, CEO of Levanta Renewables, said: “Entering the Thai energy sector is a key part of Levanta’s business plan. Earlier this year, we established an office in Bangkok and recruited a local team to develop C&I solar projects in the country. We intend to leverage this acquisition to further explore greenfield and brownfield investment opportunities for both utility-scale and C&I projects in Thailand. We are also excited to partner with Super Energy on this portfolio of projects and look forward to continued business cooperation between the two parties.”

Rahul Agrawal, Head of Energy, Southeast Asia, Actis, added: “I am delighted that Levanta will make this first investment in Thailand, a country with significant renewable energy potential and a commitment to achieving carbon neutrality by 2050. We look forward to leveraging our experience in power generation across Asia and implementing our tried and tested playbook to build a utility-scale and C&I operation in Thailand, helping the country transition from fossil fuels to a more sustainable energy future.”