The Chinese state-owned energy corporation inked a deal with the Lao Government last week to build a renewable energy base in Laos.
According to Reuters, CGN has signed a deal with the Lao government to develop a renewable energy base in Laos. The project will include various renewable energy sources such as wind, solar, hydro, and energy storage.
The base will be connected to an existing power line that transfers power from Laos to China’s Yunnan province. Additionally, a planned 500kV power line between the two countries will further enable the energy transfer.
This agreement builds upon a memorandum of understanding signed between CGN and the Lao government in October 2022. The signing took place during the China-ASEAN Expo held in Nanning, Guangxi province.
Chinese companies have reportedly invested over USD 16 billion in Laos until 2022, highlighting the nation’s significant role in the development and investment sectors within Laos.