PDI signs MoU with EDL-Gen to jointly invest in two hydropower plants in Laos with 114 MW capacity in total.
PDI makes a further expansion in renewable energy by signing a memorandum of understanding to jointly invest in two hydropower plants in Laos, Nam San 3A and Nam San 3B, with a total capacity of 114 MW. The investment objective is to help PDI attain solar and hydro power plants in Asia with a total capacity up to 200 MW within two years.
Mr. Francis Vanbellen, Managing Director of Padaeng Industry Public Company Limited (PDI), said the Company is moving forward to expand its renewable energy business. PDI signs an MoU with EDL-Generation Public Company on Oct 4, 2017, at Vientiane, Laos, for a joint investment in two hydropower plants, Nam San 3A (69 MW capacity), and Nam San 3B (45 MW capacity). The total capacity is 114 MW.
The Nam San 3A and Nam San 3B 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 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 hydro power plants in Asia with a total capacity up to 200 MW within only 2 years,” Mr. Vanbellen said.
Currently, PDI has seven solar farms in Thailand, with a total capacity of 37 MW, in Tak, Prachinburi, Khon Kaen and Samut Sakhon. Besides this, it has two solar farms in Japan with a total capacity of 13 MW. The Nanao solar plant has been in operation since October last year while the Nogata solar plant will be finished and will begin commercial operation in the first quarter of 2018.