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 annually and supplies power to Vietnam Electricity under long-term power purchase agreements.
Chief executive Pramod Singh said the transaction reinforces the company’s position in the Vietnamese market.
“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,” Singh said.
“As we advance toward our 1.5 GW capacity target, we remain focused on building a resilient and sustainable power system across Southeast Asia,” he added.
Chief investment officer Pankaj Sakhuja said Vietnam has been a core market for the company since its inception, adding that around 300MW of projects under the country’s PDP8 framework are 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 said.
Levanta said the acquisition marks its fifth transaction in the region and increases its total operating capacity to roughly 400MW. Including projects under construction and contracted development, its broader portfolio now exceeds 750MW.
