Levanta Renewables enters the Thai solar market with a 139.4 MW acquisition
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Levanta Renewables, a renewable energy developer and independent power producer in Southeast Asia, announced that it has finalized the acquisition of a 90% controlling stake in a 139.4 Megawatts-peak (MWp) operating solar project portfolio located in Thailand.
This strategic move marks Levanta’s inaugural entry into the Thai market, signalling a significant step towards achieving its regional target of 1.5 GW of operating capacity.
The portfolio acquired from Super Energy Corporation Public Co. Ltd., a leading Thai renewable energy developer, comprises 24 ground-mounted solar farms in four provinces.
Each solar farm operates under a 25-year power purchase agreement with the Provincial Electricity Authority of Thailand, ensuring long-term stability and revenue.
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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.”
He added, “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.”
Levanta Renewables is a portfolio company of UK-based firm Actis. Levanta is among the nine energy generation companies in Asia (excluding the Middle East) in which Actis has made investments.
Actis has invested in businesses in the region with a total installed capacity of 8.5GW, out of which 5.6GW is represented by renewable energy sources.
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