An onshore wind farm in Laos, developed by Japan-based Mitsubishi Corporation, will supply electricity to Vietnam. The farm will generate 600 MW of electricity. Cost of the project will most likely be in the hundreds of millions of dollars although particulars have not been disclosed.
A Mitsubishi subsidiary will own a 20 per cent stake in a joint venture (JV) with two Thailand-based renewable energy firms. Construction of the site will commence by the end of 2021, with operations beginning in 2024. Under a 25-year deal, a grid network will be created to transfer power to a Vietnamese state-run utility.
The Government of Vietnam agreed to exchange electricity with Laos in 2016 to meet the increasing domestic demand in the country.
