Padaeng Expands Hydropower Investment
Padaeng Industry Public Co Ltd (PDI) plans to further expand its capacity to generate renewable energy by signing a memorandum of understanding to jointly invest in two hydropower plants in Laos with a total capacity of 114 megawatts.
The investment objective is to help PDI acquire solar and hydropower plants in Asia with total capacity up to 200MW within two years.
Francis Vanbellen, PDI’s managing director, said the company is moving forward to expand its renewable energy business. PDI signed an MoU with EDL-Generation Public Co on October 4 in Vientiane, for joint investment in two hydropower plants – Nam San 3A (69MW), and Nam San 3B (45MW).
The two hydropower plants are located in Xieng Khouang province of Laos. They have been in commercial operation for two years with a 27-year electricity sales contract with Electricite du Laos. PDI Energy, a subsidiary of PDI, has set its goal to take a major stake in both hydropower plants.
“The investment in the two hydropower plants in Laos is in line with our strategy to expand the renewable energy business for PDI. We expect to sign a share-purchase agreement within 2017, and this will enable PDI Energy to operate several solar and hydropower plants in Asia with a total capacity up to 200MW within only two years,” Vanbellen said.
Currently, PDI has seven solar farms in Thailand – in Tak, Prachinburi, Khon Kaen and Samut Sakhon provinces – with a total capacity of 37MW. Besides this, it has two solar farms in Japan with a total capacity of 13MW. The Nanao solar plant has been in operation since October last year while the Nogata solar plant will begin commercial operations in the first quarter of 2018.