Levanta Renewables Acquires 139.4 MW Solar Portfolio in Thailand

Obton, a solar and energy storage project developer, announced its joint venture with GSSG Solar, a solar-focused renewable energy investment company, and its affiliates to acquire nine solar projects in Japan with a total capacity of 117 MW.

Eight of the projects are operational and have a total capacity of 104 MW, while one, with a capacity of 13 MW, is under development. The operational projects were brought into production between 2017 and 2022, respectively.

As part of Japan’s Feed-in Tariff (FIT) program, introduced in 2012, these projects will supply electricity across seven prefectures of Japan. Once fully operational, Obton claims the projects will produce enough clean electricity to power over 30,000 households.

Mikkel Berthelsen, Chief Acquisition Officer of Obton, said, “We are thrilled to partner with GSSG Solar on this project, marking a significant milestone in our efforts to expand our renewable energy portfolio in Japan. This collaboration underscores our commitment to sustainable energy and highlights the strength of our partnership with GSSG. We are excited about taking our collaboration further in the future.”

According to Mercom’s Q1 2024 Solar Funding and M&A Report, almost 10.8 GW of solar projects were acquired in Q1 2024 compared to 11.9 GW in Q1 2023. In a quarter-over-quarter comparison, 13.7 GW of solar projects were acquired in Q4 2023.

Last week, Capital Dynamics, an independent global private asset management firm, announced that its Clean Energy business acquired a 100% equity stake in six solar projects in Spain, which it bought via two deals. The first acquisition represents a 157 MW portfolio comprising three construction-ready solar PV projects in Andalucía, Spain.