ADB, Monsoon sign $692.5m loan to develop wind power project in Lao PDR

This will fund the construction of a 600MW wind power plant. 

The Asian Development Bank (ADB) and Monsoon Wind Power Company Limited (Monsoon) signed a $692.55m project financing package to build a 600-megawatt wind power plant in Lao People’s Democratic Republic (PDR). 

The wind power plant will be located in Sekong Attapeu provinces in the southern region of Lao PDR. This is intended for export and sale in Vietnam. 

“Developing economies in Asia and the Pacific face shortfalls in climate investments that are needed to clear a pathway to green growth. The syndication of development and commercial financing for this project bridges this gap by mobilising private capital to develop wind resources which are translated into clean power generation that can spur economic and social advancement in the region,” ADB Private Sector Operations Department Director General Suzanne Gaboury said.

“The financing from ADB and its partners will help unlock the Lao PDR’s untapped wind resources, providing a basis for a transition to clean energy and green growth that will have lasting benefits for the economy.”

Read more: Cambodia’s energy transition program gets ADB boost

The package comprises a $100m A loan from ADB’s ordinary capital resources, a $150m syndicated B loan, $50m in concessional financing, $382.55m in parallel loans, and a $10m grant.