The Lao government and relevant energy companies are expected to shell out over USD 2 billion for the construction of a wind power project in the Lako area, Sepon District, Savannakhet Province.
Mr. Sathabandith Insisiengmay, Deputy Minister of Planning and Investment, and Savan Vayu Renewable Company and LTM Lao Company signed a memorandum of understanding to examine the possibility of wind power projects in the region.
The wind power station will have an installed capacity of 1,200 megawatts and an approximate construction cost of USD 2.15 billion, and the construction will be complete at the end of 2025.
The electricity will be generated from wind power and consumed in the country, as well as exported abroad, particularly to Vietnam.
Implementation of this Memorandum of Understanding, is part of a cooperation move with Vietnam in the energy sector which was put into place in 2016.
From mid-2021, project developers begun analyzing information about the wind power project, recognizing that the development of renewable energy has great potential.
Another renewable energy source project in the works will see geothermal power in Laos yielding an annual dividend of over USD 600 million each year from selling power to Vietnam.
