LONDON, July 8, 2024
/PRNewswire/ -- Levanta Renewables ("Levanta"), a renewable
energy developer and independent power producer in Southeast Asia owned by Actis, a leading
sustainable infrastructure investor, 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."
Rahul Agrawal, Head of Energy
for Southeast Asia at Actis,
commented: "I'm excited for Levanta to be making this first
investment into Thailand, a
country which has great renewable energy potential and a commitment
towards carbon neutrality by 2050. We're looking forward to
leveraging our energy generation experience across Asia and deploying our tried and tested
playbook to build a utility scale and C&I business in
Thailand, helping the country make
the transition away from fossil fuels to a more sustainable energy
future."
Levanta is one of nine energy generation businesses Actis has
invested in across Asia (excluding
Middle East) with Actis
investments in the region having an installed capacity of 8.5GW,
including 5.6GW of renewables.
About Levanta Renewables
Levanta Renewables is an established renewable energy developer
and operator with a focus on Southeast
Asia, managed by a team with proven capabilities and a
successful track record of developing and constructing more than
1GW of renewable energy projects across Asia.
Actis – a leading global investor in sustainable infrastructure
(https://www.act.is) – is a majority shareholder of Levanta
Renewables.
https://www.levantarenewables.com
About Actis
Actis is a leading global investor in sustainable
infrastructure, delivering competitive returns for institutional
investors and measurable positive impact for the countries, cities
and communities in which it operates. Actis invests in structural
themes that support long-term, equitable growth in defensive,
critical infrastructure across energy transition, digitalisation
transition, and supply chain transformation.
The firm's decades of global experience, operational know-how
and strong culture allows it to create global sustainability
leaders at scale. Since inception, Actis has raised US$ 25 billion to invest in a better tomorrow.
Actis is a signatory to the United Nations backed Principles for
Responsible Investment (PRI), an investor initiative developed by
the UNEP FI.
You can learn more about Actis at www.act.is
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