Levanta Renewables has acquired an 80% stake in a fully operational 50MW onshore wind project in Gia Lai province, Vietnam.
The company said the asset generates more than 150GWh of electricity a year and supplies power to Vietnam Electricity under long-term power purchase agreements.
Pramod Singh, chief executive officer 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.”
“As we advance toward our 1.5 GW capacity target, we remain focused on building a resilient and sustainable power system across Southeast Asia,” Singh added.
Pankaj Sakhuja, chief investment officer of Levanta Renewables, said: “Vietnam has been a key market for Levanta since our inception, and we are progressing approximately 300 MW of PDP8 projects expected to come online over the next two to three years.”
“Our deep understanding of the regulatory landscape allows us to maintain a disciplined, risk-managed approach to investments in the market,” Sakhuja stated.
Levanta said the deal is its fifth acquisition in the region and lifts its total operating capacity to about 400MW, with the wider portfolio now exceeding 750MW including construction and contracted development projects.