The US$3.5 billion Xayaburi hydroelectric project is 60% complete. It is the first of 11 projects proposed for the Lower Mekong River in Southeast Asia as part of Laos’ plan to become the “battery of the region.”
The Loa and Thailand governments began building the project in 2012 and published reports indicate it is now 60% complete.
The project developer is Xayaburi Power Co. Ltd., a subsidiary of Thai construction company Ch. Karnchang Public Co. Ltd.
The Xayaburi project is being financed by six Thai commercial banks that include Siam Commercial Bank, Kasikorn Bank, Bangkok Bank, Krung Thai Bank, TISCO and the Export-Import Bank of Thailand. Thailand state electricity utility, EGAT, will purchase 95% of the project’s electricity.
Laos exports energy outside of its borders.
Thailand purchases the largest amount of Laos energy exports and through Association of Southeast Asian Nations (ASEAN) Laos has agreements to supply energy to Vietnam and Cambodia.
ASEAN, established in 1967 in Bangkok, is an organization founded by Indonesia, Malaysia, Philippines, Singapore and Thailand to further economic and social progress in Southeast Asia nations.
Under an ASEAN project to use transmission lines in Thailand and Malaysia, Laos could sell 100 MW of electricity to Singapore.