Sthabandith Insisiengmay, Deputy Minister of Planning and Investment for the Lao government (right), and Sengsack Sayarath, Managing Director of SVARE (left) at the agreement signing ceremony. (Photo: laotiantimes.com)
Vientiane (VNA) – The Lao government has signed an agreement with Savan Vayu RenewableEnergy Co., Ltd. (SVARE) on developing a 1,200 MW wind power project in Sepondistrict, the central province of Savannakhet that borders Vietnam.
The project is the largest of its kind inLaos to date and a milestone in the country’s journey toward clean energy andsustainable development, according to Lao media.
With an investment of about 2 billion USD, the projectwill not only help meet domestic energy needs but also strengthen Laos’position as a reliable power exporter in the region,contributing to regional energy security and cooperation.
The wind farm is expected to be operational by early2026, significantly boosting Laos’ renewable energy capacity andsupporting its goal of achieving renewable energy targets by 2030.
Besides the projects, Laos has signed many renewableenergy projects with development partners in recent years under its export-oriented energy policy and is expectedto become an energy supplier in Southeast Asia soon through increasingelectricity exports to neighbouring countries and enhancing the development ofother clean energy sources.
Data from the Lao Ministry of Energy and Mines published at theend of 2023 showed that the country currently has 94 power plants with a totalinstalled capacity of more than 11,600 MW, including 81 hydropower plants.
Currently, about 80% of the electricity produced in Laosis sold to neighbouring countries including Thailand, China, Myanmar, Vietnam,Cambodia and Singapore, of which Thailand and Vietnam are the two largestelectricity import markets of Laos./.
