Tuesday, July 23, 2024

ACTIS-Backed Levanta Renewables Makes First Funding in Thailand with 139MWp Photo voltaic Portfolio Acquisition


Levanta Renewables, a renewable vitality developer and impartial energy producer in Southeast Asia, owned by Actis, a number one sustainable infrastructure investor, introduced the acquisition of a 90% controlling share in a 139.4MWp working photo voltaic mission portfolio in Thailand. The initiatives have been acquired from Super Energy Corporation Public Co. Ltd. and its subsidiary, Super Energy Group Co. Ltd., each main Thai renewable vitality builders with operations in Thailand and Vietnam.


This funding marks Levanta’s first transaction in Thailand and is a major step in the direction of its aim of reaching 1.5GW of operational capability throughout Southeast Asia. The acquired portfolio consists of 24 ground-mounted photo voltaic farms situated in 4 provinces of Thailand, every working below a 25-year energy buy settlement with the Provincial Electricity Authority of Thailand.


Sudhir Nunes, CEO of Levanta Renewables, says, “Entering the Thai vitality sector is a vital a part of Levanta’s marketing strategy. Earlier this yr, we established an workplace in Bangkok and recruited native workforce to pursue C&I photo voltaic initiatives within the nation. We intend to make use of this acquisition to pursue greenfield and brownfield alternatives for utility-scale and C&I initiatives in Thailand Super Energy on this mission portfolio and look ahead to additional enterprise collaboration between the 2 sides.

Rahul Agrawal, Head of Energy for Southeast Asia at Actis, added, “I’m excited for Levanta to make this primary funding in Thailand, a rustic with nice renewable vitality potential and a dedication to carbon neutrality by 2050. We are wanting ahead to leveraging our expertise in vitality technology throughout Asia and deploying our tried and examined playbook to construct a utility-scale and C&I enterprise in Thailand, serving to of the nation to transition from fossil fuels to a extra sustainable vitality future.”

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