Levanta acquires 80 per cent stake in 50MW Gia Lai wind farm

Levanta acquires 80 per cent stake in 50MW Gia Lai wind farm

Levanta Renewables, the pan-Southeast Asia renewable energy platform of Actis, has acquired an 80 per cent stake in a 50MW onshore wind project in Gia Lai province, expanding its footprint in Vietnam's clean energy market.

Photo: Levanta Renewables

Announced on March 2, the Singapore-headquartered company said the fully operational asset generates more than 150GWh of renewable electricity annually and supplies power to state-owned Vietnam Electricity under long-term power purchase agreements.

The transaction marks Levanta’s first operating wind asset within its regional portfolio and represents its second investment in Vietnam, underlining the country’s strategic importance in its Southeast Asia expansion.

Pramod Singh, CEO of Levanta Renewables, said, “This acquisition strengthens Levanta’s position as a leading renewable energy investor in Vietnam and reflects our continued commitment to supporting the country’s clean energy transition ambitions.”

Vietnam remains a priority market for the firm. Pankaj Sakhuja, CIO of Levanta Renewables, noted that the company is advancing approximately 300MW of projects under Vietnam’s Power Development Plan VIII, expected to come online over the next two to three years

With the Gia Lai deal, Levanta’s total operating capacity has reached approximately 400MW. Including projects under construction and contracted developments, its regional renewable energy portfolio now exceeds 750MW

As Actis’ renewable energy platform in Southeast Asia, Levanta is targeting 1.5GW of operating capacity by 2028, positioning itself as a growing player in the region’s renewable infrastructure landscape

VIR