Levanta Renewables has opened its account in Thailand with the acquisition of a 139.4 MW solar portfolio from Super Energy Corporation Public Co. The portfolio consists of 24 ground-mounted projects across four Thai provinces, all of which are contracted under 25-year power purchase agreements (PPA) with the Provincial Electricity Authority of Thailand.
The Vietnam-based Levanta Renewables is 90% owned by renewable energy infrastructure investor Actis. Levanta has set itself a target of a 1.5 GW renewables portfolio in South East Asia. Levanta Renewables (Levanta), Actis’ (a leading sustainable infrastructure investor) renewable energy developer and independent power producer in Southeast Asia, has announced the acquisition of a 90% controlling shareholding in a 139.4MWp operating solar project portfolio in Thailand. The projects have been acquired from Super Energy Corporation Public Co. Ltd. (“Super Energy”), a leading Thai renewable energy developer with operations across Thailand and Vietnam, and Super Energy Group Co. Ltd., a subsidiary of Super Energy.
The investment marks Levanta’s first transaction and entry into the Thai market and serves as a key step towards its goal of achieving 1.5GW of operating capacity across Southeast Asia.
The portfolio Levanta has acquired consists of 24 ground-mounted solar farms spread across four provinces in Thailand, with each solar farm under a 25-year power purchase agreement with the Provincial Electricity Authority of Thailand.
Sudhir Nunes, CEO of Levanta Renewables, said, “The entrance into the Thai energy sector forms an important part of Levanta’s business plan. Earlier this year, we established an office in Bangkok and recruited a local team to pursue C&I solar projects in the country. We intend to leverage this acquisition to further pursue greenfield and brownfield opportunities for both utility-scale and C&I projects in Thailand. We are also excited to partner with Super Energy on this project portfolio and look forward to further business collaboration between the two sides.”
