EDL nets 120bn kip profit
EDL nets 120bn kip profit
Electricite du Laos Generation Public (EDL Gen) has earned net profits of more than 120.28 billion kip from total revenue of 1,645.68 billion in the first six months of the year.
EDL Gen Managing Director, Mr Sisavath Thiravong, announced the company's achievement at an annual assessment meeting in Vientiane last week.
“In the past six months, we saw a good achievement in terms of revenue but more tasks need to be completed to increase income over the next six months,” he said.
“The demand from the public on the use of electrical energy is increasing rapidly, so EDL is investing in power projects as well as continuing the expansion of electric systems to rural districts based on our existing financial status and loans from international financial institutes.”
EDL Gen reported 143 out of 145 districts nationwide, or about 6,749 villages, now have access to electricity.
Many villages in Kuan district in Huaphan province and Xaychamphone district in Borikhamxay province remain without power.
Under government plans, 90 percent of Lao households should have access to electricity by 2020.
Mr Sisavath said over the six month period, more than 754.68 million KWh was generated by various hydropower plants in Laos, including 6.01 million KWh from EDL hydropower dams; equivalent to 89 percent of its annual plan.
EDL Gen has purchased a total of 2,025.25 million KWh, worth more than 314.56 billion kip.
A number of hydropower plans have commenced operations in recent years, with more than 21 stations now operating with a total installed capacity of 3,200 MW.
Most power generated by the hydropower stations is exported to neighbouring countries including Thailand and Vietnam; only 10 to 20 percent is reserved for domestic c onsumption.
In 2012, the export value of Lao electricity reached nearly US$500 million, making it a major foreign income earner alongside the mining and tourism sectors.
Income from the sale of electricity is expected to grow even more over the next five years.
Installed electrical power is expected to reach about 12,000 MW by 2020.
The Lao government has a policy to turn itself into a major supplier of electricity in the region, promoting private investment in hydropower while expanding the power supplies to more remote areas.
vientiane times
