1. Nam Theun 2 Power Company Limited
The Nam Theun 2 Power Company Limited (“NTPC”) was established on 27 August 2002, as a limited liability company incorporated under Lao PDR law. NTPC is owned by EDF International (“EDFI”, a subsidiary of Electricité de France) of France, Lao Holding State Enterprise (“LHSE”) of Lao PDR, Electricity Generating Public Company Limited (“EGCO”) of Thailand, and Italian-Thai Development Public Company Limited (“ITD”) of Thailand (the “Shareholders”) with the following shareholdings:
Table 1: Nam Theun 2 Power Company Limited Ownership Structure
|Lao Holding State Enterprise|
|Electricity Generating Public Company Limited|
2. Sponsors and Shareholders
The Nam Theun 2 Electricity Consortium (“NTEC”) was responsible for the development of the Project. NTEC, which was an unincorporated consortium between Electricité de France (“EDF”) and EGCO (together, the “Sponsors”), was responsible for the negotiation of all the contractual arrangements entered into by NTPC..
2.1 Electricité de France and EDF International
Role in Project:
- * Project Sponsor (EDF)
- * Project Shareholder (EDFI)
- * Technical Services Provider (EDF)
Electricité de France (“EDF”) is an industrial and commercial enterprise with financial autonomy (“Etablissement Public à Caractère Industriel et Commercial”) owned by the French Government.
The EDF group is a complete energy provider, producing, distributing and selling energy and ranks as one of the largest enterprises in France and one of the largest electric utility entities in the world.
. EDF’s total generating capacity, including overseas operations, was 121,000 MW in 2002.
EDF is the leading renewable energy producer within the European Union and has over fifty years of experience in hydroelectric power development. It is one of the major owners of hydroelectric facilities in the world with 225 large dams, 530 hydroelectric power stations (with 1,370 units) and approximately 21,000 MW of hydroelectric generating capacity in France and approximately 1,700 MW of hydroelectric generating capacity elsewhere in the world.
EDF has participated in the construction of more than 600 hydroelectric schemes in France and elsewhere, both directly and through the provision of hydroelectric and hydraulic expertise from design to commissioning and operation and through the provision of technical consulting and assistance activities.
In 2001, EDF joined the United Nations’ Global Compact and adopted Agenda 21, a charter designed to focus major energy producers with the joint aims of producing competitive and sustainable ways to meet the ever growing global energy needs.
Due to its legal status, its position in French energy policy, and its role as the principal French energy supplier, EDF has a long-term credit rating of AA from Standard & Poor’s and Aa3 from Moody’s.
EDF International (“EDFI”), NTPC shareholder, is a wholly owned subsidiary of EDF. EDFI is a Société Anonyme registered in 1992 under the laws of France. The creation of EDFI enabled EDF to operate its international business and overseas investments separately from its domestic business. EDFI’s investments are mainly in the electricity business in sectors that EDF has successfully operated in France for 50 years. EDFI is a direct shareholder in the Project.