Levanta Renewables, a leading Southeast Asia-focused renewable energy platform backed by Actis, is acquiring a 28.7MWp rooftop solar system from related companies of locally invested Tien Nga JSC.

Situated in the southern province of Dong Nai, this system ranks among the country's largest single-site solar installations, covering nearly 200,000 square metres of rooftop surface area.

The project is aligned with Vietnam’s goal to diversify energy generation by 2030 and achieve carbon neutrality by 2050. Dong Nai, recognised as a key area for renewable energy development, encompasses solar, wind, and waste-to-energy projects.

Expected to produce over 34GWh annually, the project will supply green energy to Vietnam Electricity under long-term power purchase agreements. This substantial contribution underscores Levanta’s commitment to supporting Vietnam’s renewable energy objectives and reducing carbon emissions.

"This acquisition marks a significant milestone in Levanta Renewables' expansion in Vietnam, showcasing our diversification across utility-scale and commercial and industrial markets," said Sudhir Nunes, CEO of Levanta Renewables, in a press release. "It enhances our solar and wind portfolio in Vietnam, driving us closer to our target of operating a 1.5GW renewable platform across Southeast Asia by 2028."

Nunes emphasised the strategic importance of the project for Levanta’s Commercial and Industrial Business, positioning it as a pivotal installation in the Vietnamese market.

“We look forward to collaborating with Tien Nga JSC to operate this project atop their logistics warehousing complex,” added Nunes.

Hoang Thanh Tan, chairman and director of Tien Nga JSC, highlighted the significance of the rooftop solar portfolio acquisition for Levanta Renewables in advancing towards its 1.5GW renewables ambition. He emphasised Levanta’s role in accelerating Vietnam's energy transition by supplying clean, reliable, and cost-competitive energy to drive economic growth.

Levanta Renewables, headquartered in Singapore, is a leading renewable energy platform in Southeast Asia, supported by Actis. With a focus on delivering innovative solar and wind solutions, Levanta operates across Indonesia, Malaysia, the Philippines, Thailand, and Vietnam, led by a professional team known for delivering high-quality projects.