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The Company

NTPC is the company formed by the Lao Government and the private shareholders in the Nam Theun 2 Hydroelectric Project to build, operate and transfer the Project for the first 25 years of its operation. NTPC is dedicated to running a world class hydropower facility and to improving the living conditions of people in the areas around the Project.

We work closely with local people, all levels of the Lao government, our Thai and French shareholder companies, international financial and development institutions and many other partners in all aspects of this massive Project.

Shareholders and Financing


Electricité de France (40%) | Project shareholder (EDF International), Head Contractor

In addition to supplying financial backing and coordinating construction of the Project, EDF also supplies technical services and personnel management to NTPC. An energy market leader in Europe, the EDF Group is an integrated energy company operating in all branches of the industry: generation, transmission, distribution, and the trading and sale of energy. www.edf.com

Lao Holding State Enterprise (25%) | Project shareholder

Lao Holding State Enterprise (LHSE) is a state-owned company, established in February 2005 to hold the Lao government’s shares in NTPC. LHSE was created as the entity through which the government’s Nam Theun 2 revenue will pass. LHSE replaced Electricité du Laos (EDL) as the government shareholder in NTPC. www.laoholding.com

Electricity Generating Public Company Limited (35%)

EGCO was established in 1992 in accordance with the Thai government’s privatisation policy for the energy sector. The first independent power producer in Thailand, EGCO was created to acquire some of the assets of EGAT and to supply generating capacity and electrical energy to EGAT under long-term power purchase agreements. www.egco.co.th


A total finance package worth US$1,580 million in capital commitments to NTPC was completed in May 2005. This funds the total base Project cost of $1,250 million, plus additional amounts for contingency and ancillary bonding facilities.

The financing arrangements reflect the Project economics: just as NTPC will receive payment for the electricity it generates in a US dollar/Thai baht split, so its credit is arranged in a half dollar-half baht arrangement. This increases the financial stability of the arrangement.

The US$ senior debt facilities include political risk guarantees from the Asian Development Bank (ADB), the World Bank and the Multilateral Investment Guarantee Agency (MIGA), export credit agency support from COFACE of France, EKN of Sweden and GIEK of Norway, and direct loans from a number of multilateral and bilateral development agencies including the ADB, Nordic Investment Bank, Agence Française de Développement (AFD), PROPARCO and the Export-Import Bank of Thailand.

Nine international commercial banks (ANZ, BNP Paribas, BTMU, Calyon, Fortis Bank, ING, KBC, SG and Standard Chartered) and seven Thai commercial banks (Bangkok Bank, Bank of Ayudhya, Kasikornbank, Krung Thai Bank, Siam City Bank, Siam Commercial Bank and Thai Military Bank) are providing long term loans to NTPC.

In addition to senior loans facilities, shareholders complete the Project financing by contributing equity pro-rata their respective participation in NTPC. The equity contribution of LHSE is financed by means of loans, grants and other financing from institutions including the AFD, ADB, European Investment Bank and the World Bank.

External links to International Financial Institutions: