Lao People's Democratic Republic's (Lao PDR) has unveiled its largest hydropower facility, Nam Theun 2, which will aid in the Southeast Asian country’s growth and development.
Over 90% of the electricity generated by the project is being sold to Thailand, providing Lao PDR with a $2bn revenue stream over the next 25 years.
Nam Theun 2 will generate 35 times less greenhouse gases than a coal-fired power plant of equivalent size, and the biodiversity conservation area will help sequester an additional 40-60 million tons of CO2 emissions.
For the $1.43bn project, over $60m has been invested in downstream water quality management.
The Asian Development Bank has provided $120m for the project and 27 various financing institutions have supported the project, including the World Bank, the European Investment Bank, and Agence Francaise du Developpement.
The Nam Theun 2 Power Company is jointly owned by Electricite de France International, Electricity Generating Public Company (Thailand), and the Government of Lao PDR.