J-POWER and Hazama Ando have joined the Pak Lay hydropower project in Laos through their joint venture JH International B.V., marking their first hydropower investment in the country.
Following an equity transaction completed on April 1, 2026, J-POWER has acquired an indirect stake of approximately 49 per cent in Pak Lay Power Company, while Hazama Ando holds a smaller minority share. The remaining stake is owned by an affiliate of Gulf Development Public Company Limited, forming a cross-border consortium to advance the project.
Located on the Mekong River, the Pak Lay project is designed as a run-of-river hydropower facility with a planned capacity of 770 MW. Electricity generated will be exported to Thailand under a long-term power purchase agreement, supporting regional energy integration.
The project will be developed under a build-operate-transfer (BOT) model, with the plant to be transferred to the Lao government after the concession period. Developers state that the run-of-river design aims to reduce environmental and social impacts compared to large reservoir-based dams.
The inclusion of Japanese partners at this stage reflects a broader trend in Southeast Asia, where large hydropower projects rely on multinational consortia to combine financing, engineering expertise and operational capabilities. For Laos, the project supports its strategy of leveraging hydropower for export revenues, while Thailand benefits from increased access to renewable electricity imports.