Doosan Heavy Industries & Construction had signed an MoU with Korea Western Power on November 30 to cooperate on developing a 728 MW hydropower plant in Phou Ngoy, Laos. Under the MoU, Korea Western Power and Doosan will jointly pursue development of the Phou Ngoy hydropower plant and cooperate on the local manufacturing of key equipment for hydropower plant projects, as well as on the development of sales routes to promote exporting of the products.
The Thailand-based developer Charoen Energy and Water Asia (CEWA) had initially signed the deal with the Laos government to develop the Phou Ngoy project and since then, has been jointly executing the project with Korea Western Power. A tri-party investment agreement was entered into with Korea Overseas Infrastructure & Urban Development Corporation(KIND) in August this year.
The 728MW Phou Ngoy hydropower plant will be built in Pakse, a city located in the Southern Laos province of Champasak. The project is valued to be about USD 2.4 billion and will be executed using the BOT(Build-Operate-Transfer) approach. This is to be an EPC project, with Doosan handling the supply of main equipment and the construction work. Starting in January next year, Korea Western Power and Doosan will jointly conduct a site survey, after which basic engineering will be carried out for the project. The plant construction will start in 2022 and be completed by 2029.
The US$1 billion Nam Theun 1 hydroelectric power project has reached financial close. The project is being developed by Phonesack Group. Co. Ltd. and Electricity Generating Public Company Limited (EGCO) and involves the construction of a 670 MW hydroelectric plant on the Nam Kading River, about 33 km upstream from its confluence with the Mekong River in the Borikhamxai province of Laos.
Read moreThe Asian Development Bank (ADB) has signed a loan equivalent of up with US$235 million to B.Grimm Power Public Company Limited, one of the largest power producers in Thailand, to develop and enhance renewable energy capacity in member countries of the Association of Southeast Asian Nations (ASEAN).
Read moreMega First has entered into binding agreement with several financial institutions for a total of US$150-million financing for the the 260 MW Don Sahong hydropower project in Laos.
Read moreStatkraft and Norfund have closed an agreement to swap shares in their jointly owned international hydropower assets.
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