Signing Ceremony of Nam Theun 2 Development Fund – Phase II Funding Agreement between Nam Theun 2 Power Company and Khammouane Province
Gnommalath District, Khammouane Province, 22 October 2024 – Nam Theun 2 Power Company and Khammouane Province today signed a new funding agreement that will significantly expand community development initiatives in the region.
The agreement, which marks the second phase of Nam Theun 2 Development Fund (NT2DF), builds upon the success of the first phase, which has allocated over 30 billion LAK to development projects in the 16 hamlets of Nakai District.
Under the new agreement, Nam Theun 2 Power Company will extend its community development efforts to the entire Nakai District, and expand to the Gnommalath and Mahaxay Districts, over the next decade. The company will focus on four key pillars: education, public health, essential infrastructure, and water for development.
“We are committed to working closely with Khammouane Province to ensure that our community development initiatives meet the needs and aspirations of the local communities,” said Mr. Marc-Antoine Rupp, the CEO of Nam Theun 2 Power Company. “By investing in education, healthcare, and infrastructure, we can help to improve the quality of life for communities in the region.”
The new funding agreement also includes a strong focus on environmental protection and biodiversity conservation. The company will continue to promote awareness and information programs among youth in local communities to ensure that development activities are carried out in a sustainable manner.
“This partnership between Nam Theun 2 Power Company and Khammouane Province is a testament to our shared commitment to sustainable development,” Mr Marc-Antoine added. “We are confident that these initiatives will have a lasting positive impact on the lives of our people.”
“The Nam Theun 2 Development Fund is a very important fund. The Nam Theun 2 hydropower project, a priority project of the Lao government and a model for hydropower development in the Lao PDR, is the funder to promote, improve and solve the livelihood of people in the project’s resettlement areas for sustainability and a better quality of life. Notably, the Nam Theun 2 Power Company has facilitated and created favorable conditions for the fund’s operation. On behalf of the Khammouane Provincial Authority, I would like to express my deep gratitude and appreciation to the company for its financial support. I also call on the fund’s management board at all levels to continue to pay attention, promote, and work together to implement the assigned tasks with greater success.” said Mr. Vanxay Phongsavanh, Khammouane Governor.
The NT2DF was established to help communities grow by strengthening and empowering their institutions. It was created through a cooperation agreement signed between Khammouane Province and Nam Theun 2 in June 2018. The fund only supports projects that aim for sustainable economic and social development for local communities near the Nam Theun 2 Project in Khammouane Province. The amount of money allocated to NT2DF is based on the amount of energy Nam Theun 2 produces each year until 2035, with 1,000 LAK given for each kilowatt-hour produced.
| Nam Theun 2 Power Company Limited, a partnership between the Lao Government and private shareholders, was established to develop and operate the Nam Theun 2 Hydroelectric Project for the first 25 years. The company is dedicated to running a world-class hydropower facility, improving the living conditions in surrounding areas, generating reliable and sustainable electricity, contributing to Lao PDR’s development, and setting a standard in the hydro industry. |
