Levanta and Actis partner in Southeast Asia Renewables platform
13:17 | 12/09/2022
Founded by Sudhir Nunes, who has significant experience in executing renewable power projects, Levanta has 300MW of onshore wind power projects in advanced development. With Actis as its strategic partner, Levanta 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 (C&I) rooftop solar projects and a strong focus on Vietnam, where Levanta 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 C&I customers.
The acquisition, Actis’ first Energy Infrastructure investment in Vietnam, will support the country’s national climate target to achieve Net-Zero by 2050. Actis’ contribution to deploying 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 ESG 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 UN Sustainable Development Goals. With Actis having recently joined the Global Wind Energy Council’s (GWEC) Board and Levanta being an active member of GWEC, Actis and Levanta will draw on their considerable experience stewarding renewable energy projects to deliver clean power across the region.
Sudhir Nunes, Founder and Managing Director at Levanta Renewables said: “We are delighted to be partnering with Actis, a world-class builder and operator of sustainable infrastructure with a proven track record in delivering renewable energy to countries and communities where it is needed most. We will leverage our experience of developing, building and operating more than 1GW of renewable power assets in Asia to actively support Vietnam and Southeast Asia’s energy transition with wind and solar projects in the region.”
Rahul Agrawal, Director of Energy Infrastructure at Actis said: “We are excited to be making our first Energy Infrastructure investment in Vietnam, a country which leads the way in Southeast Asia for renewable energy deployment and which has committed to Net-Zero by 2050. 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 such as coal, oil, and gas. We look forward to working with Sudhir and the established team at Levanta as we accelerate our plan to build 1.5GW of wind and solar energy capacity.”
The transaction will be funded through Actis’ Energy 5 Fund, which represents US$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.
About Levanta Renewables
Levanta Renewables is an established utility-scale renewable energy developer and operator with a focus on Vietnam and Southeast Asia, managed by a team with proven capabilities and a successful track record of developing and constructing over 1GW of renewable energy projects in Asia.
Actis is a leading global investor in sustainable infrastructure. We deliver competitive returns for institutional investors and measurable positive impact on the countries, cities, and communities in which we operate. Our global experience, operational know-how, and strong culture allow us to create global sustainability leaders. We do it at scale. And have been doing so for decades. Since its inception, we have raised US $24 billion to invest in a better tomorrow.
Actis is a signatory to the United Nations-backed Principles for Responsible Investment (UNPRI), an investor initiative developed by the UNEP FI and the UN Global Compact. The firm has consistently been awarded the highest rating score in the UN Principles for Responsible Investment (PRI) independent assessment.
Learn more about Actis’ Impact Measurement Framework and Transition Tool here: