Gulf Energy Development Public Company Limited (GULF) has announced its collaboration with China Datang Overseas Investment Co., Ltd. (CDTO), a subsidiary of China Datang Corporation Ltd., on the Pak Beng hydropower project in Laos. This partnership involves the signing of a power purchase agreement (PPA) with the Electricity Generating Authority of Thailand (EGAT) for the development of the 912-MW Pak Beng hydropower project, located on the Mekong River in Pakbeng, Udomxai Province, Laos.

The Pak Beng Power Company Limited, a joint venture between Gulf (49%) and CDTO (51%), signed the PPA on September 13, 2023. The agreement spans 29 years from the commencement of electricity delivery to EGAT and features an average electricity tariff of THB 2.7129 ($0.075) per KWh.

The Pak Beng project, with an estimated investment value of approximately THB100bn, is currently in the process of securing financing from financial institutions. It is expected to conclude the financing arrangement by the end of 2024 and will take approximately 8 years to construct, with commercial operations anticipated to commence in 2033.

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