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Levanta – which has 300MW of onshore wind power projects in advanced development – will leverage Actis’ proven buy-and-build strategy to scale its business into a 1.5GW renewable platform across Southeast Asia with onshore wind, ground-mounted solar and commercial and industrial rooftop solar projects.
Levanta will maintain a strong focus on Vietnam, where it will acquire high-quality operating projects and develop greenfield and brownfield projects. Levanta aims to deliver power to a range of off-takers, including state and private power companies and commercial and industrial customers.
|Levanta and Actis partner in Southeast Asia renewables platform - illustration photo|
The acquisition, Actis’ first energy infrastructure investment in Vietnam, will support the country’s national climate target to achieve net-zero carbon emissions by 2050. Actis’ contribution to the deployment of renewable technologies in this market will be a key enabler of Vietnam and Southeast Asia’s energy transition.
Levanta will work in partnership with Actis’ in-house sustainability team to establish world-class environmental, social, and governance standards across the business and will report on positive impact using the Actis Impact Score™, Actis’ proprietary framework measuring the positive social and environmental impacts of its investments, closely aligned to the United Nations’ Sustainable Development Goals.
With Actis having recently joined the Global Wind Energy Council’s board and Levanta already an active member, the pair will draw on their considerable experience stewarding renewable energy projects to deliver clean power across the region.
Founder and managing director of Levanta Renewables Sudhir Nunes said, “We will leverage our track record in developing, building and operating over 1GW of renewable power projects in Asia to actively support Vietnam and Southeast Asia’s energy transition through the execution of our existing onshore wind projects in Vietnam and investment in future solar and wind projects in the region.”
Rahul Agrawal, director of Energy Infrastructure at Actis, shared, “Our proven experience as builders and operators of sustainability leaders will allow us to support the low carbon transition in Vietnam and Southeast Asia, a region in which the energy supply is traditionally heavily dependent on fossil fuels.”
The transaction will be funded through Actis’ Energy 5 Fund, which represents $6 billion of investable capital to accelerate the energy transition globally. The Actis Energy Infrastructure team has invested in over 70 renewable energy projects to date, with approximately 11GW of renewable energy capacity globally.
|German wpd enters Vietnam with Kon Plong onshore wind energy project |
German developer wpd AG in collaboration with Singapore's Levanta Renewables is planning the Kon Plong onshore wind energy project in the Vietnamese province of Kon Tum, located about 780km southeast of Hanoi.