HBRE Gia Lai Wind Farm Changes Ownership Again

HBRE Gia Lai wind farm changes ownership again. This is the second time the HBRE Gia Lai wind project has changed hands. The enterprise was founded by HBRE Group chairman Ho Ta Tin, later sold to a Thai buyer, and now returned to a Singaporean investor. In early March, Levanta Renewables, a Southeast Asia-based renewable energy platform, completed a deal to acquire 80% of the owner shares of an onshore wind project with a capacity of 50 MW in Gia Lai province, Vietnam. Specifically, Levanta Holding Pte. Ltd., the Southeast Asia renewable platform backed by Actis, purchased 80% of the shares of HBRE Gia Lai Wind Power JSC - the developer of the HBRE Chu Prong wind project in Gia Lai. The deal value, according to Grant Thornton Vietnam, is USD 33.1 million. HBRE Chu Prông wind farm has a capacity of 50 MW, has commercially operated since 31 October 2021, and sells electricity under a long-term PPA to Vietnam Electricity (EVN). The transaction occurs as Levanta Renewables expands its regional footprint in Southeast Asia, aiming to reach 1.5 GW of operational capacity by 2028, with a portfolio including solar, wind and energy storage solutions. Mr. Pramod Singh, CEO of Levanta Renewables, said Vietnam has been a key market for Levanta since its establishment. The company is currently implementing about 300 MW of projects under PDP8, expected to be commissioned within two to three years. Mr. Pankaj Sakhuja, CIO of Levanta Renewables, said this is the fifth successful acquisition for the firm in the region, taking total operating capacity to about 400 MW. Including assets under construction and signed development contracts, Levanta’s regional portfolio now exceeds 750 MW of renewable energy capacity. A few days after the deal, Levanta Renewables signed project financing agreements with BIDV for the Chu Prong Gia Lai wind plant. Levanta Renewables provides innovative solutions in solar, wind and battery energy storage and is headquartered in Singapore with operations in Thailand, the Philippines, Vietnam and Malaysia. HBRE Gia Lai Wind Power Joint Stock Company was established in 2017 under the original name HBRE Gia Lai Wind Electric Company Limited. Its initial charter capital was VND 50 billion, with Ho Ta Tin holding 80%, Phan Thi Thanh Thuy 10% and HBRE Group 10%. Mr. Ho Ta Tin. The company was initially led by Ho Ta Tin as chairman and legal representative. In 2019, this role and the CEO were held by Jormsup Lochaya (Thai). In 2022, the company increased capital to 530 billion VND; Super Win Energy Company Limited held 98.91% and Super Win Energy Group Company Limited held 1%. In 2023, the company increased its capital to nearly 613.5 billion VND. By 04/03/2026, the business license shows Super Win Energy Company Limited reducing ownership to 19.919%, while Levanta Vietnam Pte. Ltd. (Singapore) holds 79.053% and Levanta Holding 2 Pte. Ltd. (Singapore) holds 0.947%. The legal representative also changed to Pramod Singh (Singaporean) – Chairman of the Board and Magdelaine Charles, Nicolas, Marie (France) – CEO.