Implementing SCI Group's strategy of expanding investment and construction activities of renewable energy projects in Lao PDR, SCI Group has recently completed the transfer of 100% shares of downstream Nam Neun, Nam Lan 1, Nam Lan 2 hydropower projects, the projects are slated for construction in Nong Het district, Xieng Khuang province. Concurrently, the relevant parties have negotiated and signed an appendix to the Project Development Agreement (PDA Appendix) to update the developer information with the Government of Lao PDR.
Participating in the signing ceremony of the PDA Appendix from the Lao Government was Mr. Kham Phoy NOLA - Director of the Department of Planning and Investment of Xieng Khuang Province and the representative of the project companies was Mr. Nguyen Chinh Dai as the CEO of project companies established before including Nam Lan Power Sole Company Limited and Nam Neun Lower Power Sole Company Limited. The ceremony was also attended by representatives of the transferor, officials and employees of Nong Het province and district as well as SCI Group personnel.
Accordingly, after completing the transaction, SCI Joint Stock Company now is a shareholder owning 100% of the charter capital of the Project Companies including Nam Lan Power Sole Company Limited and Nam Neun Lower Power Sole Company Limited. The project companies will continue research and develop projects in the direction of ensuring maximum efficiency, bolstering regional energy security and exporting electricity to Vietnam.
