EA and the Government of Lao PDR have collaboratively formed a joint venture company, Super Holding Company, to manage clean energy business over 7GW towards the goal of “Battery of Asia”

Energy Absolute PCL (EA) has entered into a Joint Development Agreement with the Government of Lao PDR (Lao PDR) by establishing Super Holding Company. This entity will centrally oversee the management and distribution of clean energy, promoting the adoption of electric vehicles and advancing the country's sustainable growth initiatives. The partnership aims to bolster revenue from clean energy within three years, alleviate the dependency on crude oil imports, facilitate the development of energy storage solutions, offer electric vehicle solutions, and invest in further renewable energy projects to advance the national goal of positioning Laos as the "Battery of Asia."

Mr. Somphote Ahunai, CEO of Energy Absolute PCL (EA), revealed that the company has signed a Joint Development Agreement with the Government of Lao PDR to establish Super Holding Company. This entity will serve as a centralized hub for managing clean energy, facilitating integrated distribution, and promoting the adoption of electric vehicles. The initiative aims to generate value added for the country, enhance its competitive edge, and address long-term economic stability concerns.

The core mission of Super Holding Company is to manage clean energy in an integrated manner. This includes asset management, overseas energy distribution management via a Single Gateway framework, and serving as the principal entity for future investments in the country's clean energy sector or related ventures. With the Government of Lao PDR as the principal shareholder and entrusted with the professional management team, Super Holding Company aims to instigate economic reform fundamentals, fostering a self-sufficient ecosystem conducive to driving clean energy adoption and fostering sustainable economic development in the country.

Initially, the company will undertake multiple hydropower projects with a combined capacity of more than 7GW, which will be managed under its purview. It will also serve as a center for managing renewable energy initiatives and oversee the exportation of total power energy. Additionally, the company will be granted a supplementary 25-year concession period, with the Government further incentivizing the adoption of electric vehicles to curtail fossil fuels imports.

EA will also assume responsibility for managing fundraising activities, with an anticipated target of USD 1 billion, aimed at revitalizing Lao PDR's international reserves, reducing debt, strengthening KIP currency, and reinstating investor confidence. Over the medium term of 2 to 3 years, the company plans to develop value-added projects such as floating Solar, energy storage systems and enhance project efficiency. It will also seek to expand its power export market, bolster support for electric vehicle adoption in Lao PDR, and augment the number of EV charging stations nationwide. These efforts are expected to boost the country's revenue and diminish its reliance on fossil fuel imports, with EA taking the lead in project development in collaboration with the Government of Lao PDR.

As the leader in clean energy innovation, EA possesses proficiency across renewable energy, battery technology, and commercial electric vehicles. This expertise stands poised to assist the Government of Lao PDR in effectively managing clean energy resources, fostering new enterprises in the Green Economy, establishing an export market for Carbon Credits and Green businesses, and reforming the energy infrastructure to lay the groundwork for Lao's future economic growth. These endeavors are pivotal in propelling the nation towards the attainment of its strategic objective, "Battery of Asia," as highlighted by Mr. Somphote.

Currently, EA has the rich experience in developing and managing renewable energy projects and has an integrated electric vehicle production line, the first Gigawatt lithium-ion battery factory in ASEAN as well as the ultra-fast chare technology and EV assembly plant. The company is also well-known in capital markets and entered into several and major fund raising activities. As a result of that, we are ready for transactions that can create benefits for the Government of Laos and investors towards sustainable success.

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