Convalt Energy Studies into Solar Power Investment Opportunities in Laos

Convalt Energy Studies into Solar Power Investment Opportunities in Laos

Convalt Energy LLC has spent over 3.3 trillion kip (US$400 million) to
conduct a feasibility study into the possibility of developing a large
scaled solar power project in Bolikhamxay and Attapue provinces.

A memorandum of understanding (MOU) was signed on Aug 31 in Vientiane
Capital between Deputy Minister of Planning and Investment, Mr Khamlien
Pholsena and Chairman and Chief Executive Officer of ACO Investment Group
and Convalt Energy, Mr Hari Achuthan in the presence of representatives from
the Ministry of Energy and Mines, an provincial planning and investment
departments of Bolikhamxay and Attapue.

Convalt Energy, the first U.S. based company to conduct such a study in Lao
PDR, founded as a Delaware LLC in 2011 is a portfolio company of ACO
Investment Group.

The solar power development project will involve the construction of a solar
power plant on 150 ha in Namdeua village, Pak Kading district, Bolikhamxay
Province and another one on 464 ha in Attapue province. Both will have a
combine generation capacity of 300 megawatts.

The project is expected to created jobs for hundreds of local people.

The solar power project comes under the Convalt Energy LLC's construction
plan on renewable energy and is in line with the Lao PDR government's energy
policy. The project construction is expected to last approximately two
years.

"Convalt Energy primarily focuses on developing, operating and maintaining
energy generation, transmission and distribution assets. Convalt is gearing
to become a global Independent Power Producer in Solar, Onshore and Offshore
Wind, Hydro, Waste to Energy and Energy Storage technologies," said Mr Hari.

"The firm combines global vision with local insight, relying on a top-flight
team of operational professionals to deliver superior service, maintenance
and management. In the short to mid-term, we are developing utility scale
solar farms. In the mid to long term, we expect in addition to developing
generation assets to focus on transmission and distribution projects, while
we operate and maintain our projects via long term maintenance contracts,"
said Mr Hari.

Convalt is currently developing a large utility scale solar farm in South
East Asia and in the Americas including Myanmar (300MW), Egypt (50MW of
Solar Power and 50MW of Wind Power), India (2,000MW of Solar Power and 600MW
of Wind Power).

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Link to Original Article: http://kpl.gov.la/En/Detail.aspx?id=27627

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com