Levanta Renewables is a utility-scale energy developer and independent power producer based in Da Nang, a coastal city in central Vietnam. Rahul Agrawal from Actis’ Energy Infrastructure team caught up with Levanta Renewables’ CEO Sudhir Nunes.
Rahul: Can you briefly describe your business and your plans for the next few years?
Sudhir: Levanta Renewables is a utility-scale energy developer and independent power producer based in Da Nang, a coastal city in central Vietnam. Our founding team has over 30 years of wind industry experience with a successful track record of developing a pipeline of 2GW of renewable power in India. In partnership with Actis, we aim to play a critical role in energy transition by helping Southeast Asian countries move towards a more sustainable energy system and meet their Net Zero goals.
We currently have 300MW of onshore wind power projects in advanced development in Vietnam and our plan is to create a 1.5GW renewable power platform in the region. This will also include solar parks and contracts with commercial and industrial off-takers throughout Southeast Asia, tapping into growing demand for clean sources of energy from industrial and IT parks we see in Vietnam and beyond.
Rahul: What role can you play in energy transition and building energy security?
Sudhir: We play a vital role in helping countries develop their energy infrastructure in the face of rising demand. Alongside Actis, we plan to hold workshops with the Vietnamese government and are actively involved in industry bodies, sharing experience of developing energy systems in other markets and finding ways of unblocking potential challenges to implementing policies and building renewable energy markets. We are supplementing public resources with private capital to ensure that people have access to clean and affordable electricity.
The Ukraine conflict has also given our work a new purpose as we are helping countries tap into their indigenous sources of energy so their electricity supply remains in their hands rather than those of a foreign power.
Rahul: How are you integrating sustainability in your business?
Sudhir: Our core purpose is creating sustainable energy systems, and so we emphasise sustainability across all our activities. That includes detailed environmental and social impact assessments for all our prospective projects – we do not want to endanger valuable and biodiverse habitats or the lives or livelihoods of local communities. We are also seeking to develop skills among local communities to provide employment opportunities in what are often remote locations, while we are looking at partnering with local universities for training. Further, we are proud that our founding team consists of a diverse group of people from different countries and ethnicities and with a good gender balance, a mix that we will continue to foster through our recruitment practices.
Rahul: How is Actis supporting you?
Sudhir: Actis was a natural partner for us because we share the same values and beliefs. The firm has a strong conviction and track record of driving sustainable investments and taking action towards a carbon-free world. Actis has provided much more than financial support and we are tapping into the firm’s deep expertise in developing, constructing and operating renewable energy projects, as well as into its networks, which are assisting us in originating and acquiring assets from others in the industry to create a business of scale.
