- Business

New geothermal power to generate more than US$600 million a year for Laos

The Lao Development and Investment Co., Ltd. (LDIC), the Canadian GEIOS Company and the Wealth Power Group of Vietnam (WPC) have recently signed a joint venture agreement in Vietnam on a geothermal energy development project in the Lao PDR.

The project aims to supply 5,000 MW of electricity to Vietnam.

Upon completion of the project, the Lao government will receive an annual dividend of at least US$ 613 million, from the sale of renewable energy.

The project is also expected to promote employment and poverty reduction in the Lao PDR.

Source: Lao News Agency