Levanta Renewables Signs PPA with Karex for 2.2 MWp Rooftop Solar PV Project

Levanta Renewables (Levanta), a Southeast Asia-focused renewable energy platform backed by sustainable infrastructure growth market investor Actis has signed a 2.2 MWp rooftop solar photovoltaic (PV) power purchase agreement (PPA) with Karex to power their manufacturing plant, Innolatex Thailand Limited, in Hat Yai, Thailand.

A first for the world’s largest condom maker, the PPA will supply the plant with long-term access to approximately 44 GWh of green electricity over 15 years, generated by the solar PV system installed on its roof. This clean power allocation enables Karex to reduce reliance on conventional grid power and help offset at least 26,000 tonnes of CO₂ emission, leading to more environmentally sustainable manufacturing practices.

Through this partnership with Levanta, Karex further advances in its commitment to reducing its impact on the natural environment and taking action on climate change. The adoption of solar PV expands Karex’s sustainability initiative, focusing on responsible energy usage and sustainable solutions to reduce the environmental footprint of its operations.

The agreement between Levanta and Karex at the Innolatex Thailand Limited plant contributes to Thailand’s ambitious strategy to achieve carbon neutrality by 2050 and net-zero emissions by 2065. This strategy includes the goal of achieving 30 percent renewable energy in the national energy mix by 2037.

Pramod Singh, Chief Executive Officer of Levanta Renewables, said, "Levanta Renewables is proud to supply clean, renewable energy to Karex. Leveraging our experience and expertise in the commercial and industrial sector, we are committed to making this project a success as we continue our journey towards a low-carbon future."

Goh Miah Kiat, Chief Executive Officer of Karex, commented, "We are pleased to take this important step in our journey towards renewable energy integration with Levanta Renewables. This partnership not only helps us reduce our energy consumption and reliance on traditional brown power from the grid but also supports our efforts in green manufacturing and developing more sustainable sexual wellness, medical, and other health-related products."

"The signing of this PPA with Karex marks a significant milestone in our growth and underscores our commitment to meeting the increasing demand for clean, reliable, and cost-effective energy solutions within the commercial and industrial sectors. We are proud to support Karex in their sustainability journey and their efforts to reduce their environmental footprint.", said Michael Belov, Co-Head of Commercial and Industrial Business.