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Japan's Mitsubishi Corp.
will invest in a 600-megawatt onshore wind farm project in Laos that will supply
electricity to Vietnam.
The company said it had reached an agreement to co-invest in Impact Energy Asia Development Ltd, the project's developer, through an intermediate holding company with Thailand's Impact Electrons Siam group company
.
Mitsubishi completed the investment through its wholly-owned Hong Kong subsidiary, Diamond Generating Asia Ltd, but did not provide further details
on the investment.
Located in the southern provinces of Sekong and Atapeu, the wind farm will be the first in Laos and the largest in Southeast Asia
.
According to the plan, the project will sell electricity
to Vietnam's state-owned power company through dedicated transmission lines within 25 years.
Vietnam needs additional power supply to support its economy, especially during the dry season
when the country's hydropower generation is limited.
Mitsubishi explained that the project is expected to help stabilize Vietnam's power system and make its energy mix greener
.
The development of the wind farm is in line with the 2016 Memorandum of Understanding
between the governments of Vietnam and Laos on electricity exchange.
According to information on the Impact Electrons Siam website, the wind farm aims to be commercially operational
by 2023.
Japan's Mitsubishi Corp.
will invest in a 600-megawatt onshore wind farm project in Laos that will supply
electricity to Vietnam.
The company said it had reached an agreement to co-invest in Impact Energy Asia Development Ltd, the project's developer, through an intermediate holding company with Thailand's Impact Electrons Siam group company
.
Mitsubishi completed the investment through its wholly-owned Hong Kong subsidiary, Diamond Generating Asia Ltd, but did not provide further details
on the investment.
Located in the southern provinces of Sekong and Atapeu, the wind farm will be the first in Laos and the largest in Southeast Asia
.
According to the plan, the project will sell electricity
to Vietnam's state-owned power company through dedicated transmission lines within 25 years.
Vietnam needs additional power supply to support its economy, especially during the dry season
when the country's hydropower generation is limited.
Mitsubishi explained that the project is expected to help stabilize Vietnam's power system and make its energy mix greener
.
The development of the wind farm is in line with the 2016 Memorandum of Understanding
between the governments of Vietnam and Laos on electricity exchange.
According to information on the Impact Electrons Siam website, the wind farm aims to be commercially operational
by 2023.
