Monsoon Wind: Pioneering Wind Power in Laos

In July 2025, Peck Khamkanist, Founder of Impact Electrons Siam (IES), a Thai renewable energy company, reflected on his journey to develop wind power. Unable to find a suitable site in his home country of Thailand, he had turned his attention to neighbouring Laos, where sparsely populated plateaus offered strong wind potential. The journey had required overcoming many obstacles to develop the first wind farm in the frontier market of Laos.

Khamkanist set up the Monsoon Wind special purpose vehicle to bring together an international consortium of sponsors and lenders to develop the first cross-border renewable energy project in South East Asia. Electricity generated in Laos would be exported to Vietnam. The Asian Development Bank (ADB) played a key role in validating the project through its due diligence and oversight. It mobilised private sector participation through an A/B and parallel loan structure. Concessional funds were also used to mitigate curtailment risk. As the project completed, Khamkanist wondered if its financing model could serve as a blueprint for further sustainable energy projects in the future.

This case may be used for graduate, postgraduate and executive education classes. Learning objectives for the students are to reflect on how forward-thinking leadership can balance risk, purpose, and commercial viability in sustainability-driven projects, evaluate the difficulties of doing business in a frontier market and analyse how blended finance can de-risk large-scale renewable energy projects can in developing countries.

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