Vientiane (VNA) - The ADB said in a recent report that Laos has made solid progress towards achieving its nationally determined contributions (NDCs) under the Paris Agreement, aimed at achieving net-zero emission.
The ADB’s Asian Development Outlook 2022 noted that Laos is committed to further promoting renewable energy and investments in low-carbon sectors to achieve carbon neutrality by 2050.
According to the report, strong foreign private investment inflows are expected to support the development and supply of low-carbon electricity and grid connectivity in Laos for export markets.
It cited as examples plans on wind farm investments of 1.6 gigawatts, including a 600-megawatt (MW) Monsoon Wind project in Xekong and Attapeu provinces that will export energy to Vietnam.
These investments are expected to become one of the world’s largest wind farms and provide over 90 million tonnes of carbon saving over their life.
The report also mentioned the Lao government’s plan to increase the share of solar power in its energy mix to almost 25 percent by 2025, from under 1 percent at present.
The government has given the green light for investors to develop a number of solar projects, with some currently carrying out feasibility studies.
According to the ADB, although Laos’ emissions are low compared with other Southeast Asian economies, industrial development and increasing consumption are nevertheless contributing to growing emissions./.
