Gulf EnergyRegulatory · 2026-04-02 00:00

Gulf Energy Development and its subsidiary sold a 51% stake in the Pak Lay Hydropower Project in Laos to JH International B.V. for $144.78 million.

Gulf Energy Development and its subsidiary, Gulf Hydropower Holdings, divested a combined 51% shareholding in Pak Lay Power Company Limited, the operator of the Pak Lay Hydropower Project in Laos, to JH International B.V. This transaction was valued at approximately $144.78 million.

This strategic divestment aligns with Gulf Energy's goal of forming long-term international partnerships, strengthening its renewable energy portfolio, and leveraging J-Power's expertise in large-scale hydropower development.

Fast Facts

·Project: Pak Lay Hydropower Project
·Location: Pak Lay, Xayaburi Province, Laos (on Mekong River)
·Installed Capacity: 770 MW
·Project Type: Run-of-River hydropower
·Original Gulf Energy Stake: 40% direct, 60% indirect (via GHH)
·Stake Sold: 51% (40% from Gulf Energy, 11% from GHH)
·Buyer: JH International B.V. (JV of J-Power Investment Netherlands B.V. and Hazama Ando Corporation)
·Sale Value: Approximately 144.78 million USD
·PPA: 29 years with EGAT
·Commercial Operation Date (COD) Target: 2033
·Current PLPC Ownership: GHH 49%, JHI 51%

Power Generation

Hydro

ESG & Finance

Source

Gulf Energy Development and its subsidiary sold a 51% stake in the Pak Lay Hydropower Project in Laos to JH International B.V. for $144.78 million.