Hydropower project in Laos secures $217m loan
The Asian Development Bank (ADB) has approved funding worth $217 million for a 290MW hydropower project in the Lao People’s Democratic Republic (Lao PDR).
The bulk of the electricity generated by Nam Ngiep 1 will be delivered to neighbouring Thailand, which relies heavily on natural gas. The project is expected to cut around 500,000 tons of carbon emissions in Thailand every year.
The Lao PDR has a hydropower potential of 20,000MW, according to the ADB.
Kurumi Fukaya, Lead Investment Specialist at ADB’s Private Sector Operations Department said: “The project is a win-win for the Lao PDR and Thailand. It will generate revenues for the Lao PDR’s economic and social development and provide Thailand with cost-efficient power.”
The facility is expected to start producing electricity in 2019.