Sep 4 (Renewables Now) - US renewable power company Convalt Energy LLC has plans to build two solar parks totalling 300 MW in the Lao People's Democratic Republic, it was announced in the weekend.
The US firm has invested more than LAK 3.3 trillion (USD 397,000/EUR 334,000) to conduct a feasibility study. Last week, a memorandum of understanding (MOU) for the projects was signed signed by Khamlien Pholsena, deputy minister of planning and investment, and Hari Achuthan, chairman and CEO of Convalt Energy.
The photovoltaic (PV) plants are to be built in Bolikhamxay and Attapue provinces, with construction works expected to take about two years.
Convalt Energy was set up in 2011 as a portfolio company of ACO Investment Group. The company focuses on the development, operations and maintenance of solar, wind, hydropower, waste-to-energy and energy storage facilities. It is currently working on solar projects in Myanmar, Egypt and India.
(LAK 1000 = USD 0.120/EUR 0.101)