TOKYO, June 16, 2021 - (JCN Newswire) - Mitsubishi Corporation (MC) has reached agreement to invest in Impact Energy
Asia Development Limited (IEAD), the developer of a 600MW capacity onshore wind farm project in Laos. MC will invest
through an intermediate holding company together with a group company of Impact Electrons Siam Co., Ltd. in Thailand.
The initiative is being executed through Diamond Generating Asia, Limited (DGA), MC's wholly owned subsidiary in Hong
Kong.
The onshore wind farm will be located in Sekong and Attapeu Provinces in southern Laos. The wind farm will be the first
wind farm in Laos and the largest in South East Asia. By installing a dedicated power transmission line to Vietnam,
power from the wind farm is planned to be sold to Vietnam Electricity, a state-owned electric power company in Vietnam,
for 25 years.
In Vietnam, in addition to the need for further power supply to support its growing economy, it is crucial to secure a
power source in the dry season, when the operating rate of one of Vietnam's main power sources, hydro power generation,
is limited. The onshore wind farm is expected to operate at a high rate during the dry season, when hydro power
generation is limited, and is expected to contribute to the stabilization of Vietnam's power system while making
country's energy mix greener.
The onshore wind farm is being developed as part of a memorandum of understanding on power interchange signed between
the Vietnamese and Lao governments in October 2016. If electricity exports from this project are realized, it is
expected to be the first cross-border electricity interchange from wind power generation in South East Asia as planned
by Lao government.
We will continue to contribute to the realization of a decarbonized society by striving to achieve both a stable supply
of electricity in Vietnam and addressing the environmental challenges for the stable society.