Hangzhou Safefound Technology and LAO-PPA have signed a Project Development Agreement (PDA) with the government for a 1,200MW floating solar energy project.
The PDA was signed following a feasibility study on the solar energy project to be installed on the surface of the Nam Ngum 1 dam reservoir.
The solar power project is a joint venture between the Lao government and Hangzhou Safefound Technology.
The government will hold a 20 percent share, while the company will own 80 percent of shares over a period of 25 years.
According to the development plan, a 300MW capacity solar power plant will be operational from late 2020 until 2023 with an annual power generation capacity of 37,852.86 GWh.
From 2023 to 2026, the plant’s capacity will be increased to 900MW and a transmission grid will be built from the project site to the Sengsavang Substation in Sengsavang Village, Thoulakhom district, Vientiane province.