The Government of Laos has signed a joint development agreement with Thailand-based Energy Absolute (EA) to advance its clean energy initiatives in the country. This collaboration includes establishing a joint venture (JV) called Super Holding Company, to manage and distribute clean energy, promote electric vehicles (EVs), and support sustainable growth.
The agreement aims to generate revenue from clean energy within three years. The Government of Laos aims to become the Battery of Asia through this initiative. The initial projects include multiple hydropower ventures with a combined capacity of over 7 GW.
EA will manage fundraising activities, targeting USD1 billion. The company plans to develop floating solar projects, and energy storage systems, and expand the power export market while increasing EV adoption and charging infrastructure in Laos. Moreover, the initiative supports green tourism and aims for net-zero carbon emissions by 2050.