Actis’ Levanta adds to pipeline six solar projects in Southeast Asia

Levanta Renewables, a portfolio company of UK investment firm Actis, has signed an agreement to acquire six solar projects in three countries in Southeast Asia with a combined capacity of 9.5 MWp.

The portfolio comprises three sites in Malaysia, two in Indonesia and one in Thailand. Once operational, the plants will generate 13 GWh of clean electricity annually, the company said in a press statement on Friday.

All six projects have long-term power purchase agreements (PPAs) with Global 500 multinational corporations.

The schemes will be acquired from a regional renewable energy projects developer. The transaction, subject to regulatory clearances, is set to close before the end of 2024.

Levanta is a Southeast Asia-focused renewable energy developer and independent power producer (IPP). It is targeting an operating capacity of 1.5 GW by 2028. Actis took over the business in August 2022.

The investment announced today follows a deal for a 27.8-MWp rooftop solar system in Vietnam and the acquisition of a 139-MWp utility-scale solar portfolio in Thailand.

Choose your newsletter by Renewables Now. Join for free!