Actis-backed IPP acquires 140MW Thailand PV portfolio

Facebook
Twitter
LinkedIn
Reddit
Email
The portfolio consists of 24 ground-mounted projects across four Thai provinces. Image: Actis

Southeast Asian independent power producer (IPP) Levanta Renewables has acquired a 139.4MWp operational solar PV portfolio in Thailand.

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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Levanta Renewables – owned by renewable energy infrastructure investor Actis – took a 90% majority ownership in the portfolio from Thai project developer Super Energy Corporation Public Co. The acquisition marks Levanta’s entry into the Thai market and contributes to its goal to have 1.5GW of operational renewable energy capacity across Southeast Asia, according to the company.

The company established a Bangkok office earlier this year, CEO Sudhir Nunes said, with a view to establishing a corporate & industrial (C&I) sector presence in Thailand’s solar market.

Nunes continued: “We intend to leverage this acquisition to further pursue greenfield and brownfield opportunities for both utility-scale and C&I projects in Thailand.”

Actis, Levanta’s parent company, now owns nine energy generation businesses across Asia with around 5.6GW of renewable energy generation capacity. In May 2023 the company launched a Japanese renewable energy platform seeking to develop 1.1GW of new solar and wind capacity by 2027.

More recently, the firm established a new IPP in Peru to seek 12GW of new capacity developments across renewables and gas generation.

The broader Southeast Asian region is a significant area of growth for the solar PV industry. In addition to project developments like this one, a recent report from the Institute for Energy Economics and Financial Analysis (IEEFA) found that the region could play a significant role in balance of system (BOS) component manufacturing for the solar industry.

Thailand and other countries in the region already play host to significant Chinese-owned solar manufacturing capacity, but the IEEFA said that tracker, inverter, racking and other BOS manufacturing – largely to target domestic markets as solar deployments increase – could introduce millions of dollars of investment to the region.

Read Next

June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 27, 2025
Statkraft has signed PPAs with Better Energy to purchase energy from two solar power plants in Poland with a total capacity of 64GWh.
June 27, 2025
Solar developer Lightsource bp has signed a power purchase agreement (PPA) with a subsidiary of Taiwanese energy firm HD Renewable Energy (HDRE).
June 26, 2025
ACEN has partnered with UPC Renewables to build two renewable projects in Rajasthan and Karnataka, India. 
June 26, 2025
Nextracker will supply solar tracker systems to a 550MW solar PV project in the Greek province of Western Macedonia, owned by Greek renewables developer PPC Renewables.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico