Date: 2026-07-03
Source: Asian Development Bank / Mekong Institute / IEA / 新华社
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The Greater Mekong Subregion (GMS) — encompassing Cambodia, Laos, Myanmar, Thailand, Vietnam, and China's Yunnan Province — is making significant progress toward a long-envisioned regional power grid interconnection. According to the Asian Development Bank (ADB) and the Mekong Institute, cross-border electricity trade in the GMS reached a record 38.7 TWh in 2025, growing 22% year-on-year, driven by accelerating demand from industrial zones in Thailand and Vietnam and surplus hydropower capacity in Laos and Myanmar.
大湄公河次区域（GMS）——涵盖柬埔寨、老挝、缅甸、泰国、越南和中国云南省——正在向长期规划的区域内电网互联迈出重要步伐。据亚洲开发银行（ADB）和湄公学院数据，GMS跨境电力贸易在2025年达到创纪录的387亿千瓦时，同比增长22%，驱动因素包括泰国和越南工业区日益增长的用电需求以及老挝和缅甸不断扩大的水电过剩产能。
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Laos has solidified its position as the region's primary electricity exporter, with hydropower exports accounting for approximately 30% of its total export revenue. The Hongsa Power Plant (1,878 MW lignite-fired) and the Nam Theun 2 (1,070 MW) remain anchor projects, while new run-of-river hydro projects financed by Chinese banks — including the Nam Ngiep 3 (480 MW) and Nam Phoun (350 MW) — are scheduled for commissioning in late 2026 and early 2027. The Lao-Thai-Malaysia-Singapore (LTMS) Power Integration Project, launched as a pilot in 2022, has now been extended to 100 MW of bilateral trading capacity, with plans to scale to 300 MW by 2028, enabling Singapore to access Lao hydropower via Thailand and Malaysia.
老挝巩固了其作为该区域主要电力出口国的地位，水电出口约占其总出口收入的30%。洪萨电厂（187.8万千瓦褐煤发电）和南屯2号（107万千瓦）仍是支柱项目，而由中资银行融资的新建径流式水电项目——包括南俄3号（48万千瓦）和南丰（35万千瓦）——计划于2026年底和2027年初投入商业运营。老挝-泰国-马来西亚-新加坡（LTMS）电力一体化项目自2022年作为试点启动以来，现已扩展至10万千瓦的双边交易容量，计划到2028年扩大至30万千瓦，使新加坡能够通过泰国和马来西亚获取老挝水电。
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Despite ongoing political instability following the 2021 military takeover, Myanmar's energy sector continues to see cross-border engagement. The Myanmar-Thailand power purchase agreements have shown resilience — Thailand imported approximately 1.8 TWh from Myanmar's Ywama and Shweli hydropower plants in 2025. The Chinese-financed Myitsone Dam (6,000 MW) on the Irrawaddy River — suspended since 2011 — has re-entered diplomatic discussions, with reports suggesting a potential phased resumption framework being considered. Meanwhile, the Mekong-Lancang Cooperation (MLC) Special Fund has allocated approximately $30 million in 2026 for energy feasibility studies along the China-Myanmar border, including cross-border transmission line pre-feasibility assessments.
尽管2021年军方接管后政治局势持续不稳定，缅甸能源部门的跨境合作仍在推进。缅泰购电协议展现了韧性——2025年泰国从缅甸的Ywama和瑞丽江水电站进口了约18亿千瓦时电力。中资融资的伊洛瓦底江密松大坝（600万千瓦）——自2011年暂停以来——已重新进入外交讨论，有报道称各方正在考虑分阶段恢复框架。与此同时，湄公河-澜沧江合作（MLC）专项基金在2026年已拨出约3000万美元用于中缅边境的能源可行性研究，包括跨境输电线路预可行性评估。
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Thailand's Energy Regulatory Commission (ERC) has announced a 2026-2030 Power Development Plan (PDP 2026) that positions the country as a regional electricity trading hub. Key elements include:
- Increasing cross-border interconnection capacity from the current 6.8 GW to 13.5 GW by 2030
- Establishing a regional power exchange platform with Laos, Myanmar, and Malaysia
- Introducing renewable energy certificates (RECs) for cross-border green power trade
- Thailand's Eastern Economic Corridor (EEC) alone is projected to require an additional 3 GW of power capacity by 2028, much of which is expected to come from regional interconnections.
泰国能源监管委员会（ERC）已发布2026-2030年电力发展规划（PDP 2026），将国家定位为区域电力交易枢纽。关键要素包括：
- 到2030年将跨境互联容量从目前的680万千瓦增至1350万千瓦
- 与老挝、缅甸和马来西亚建立区域电力交易平台
- 引入跨境绿色电力交易的可再生能源证书（RECs）
- 仅泰国东部经济走廊（EEC）就预计到2028年需要新增300万千瓦电力容量，其中大部分预计来自区域互联。
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China's participation extends well beyond project financing. State Grid Corporation of China (SGCC) and China Southern Power Grid (CSG) are actively involved in:
- The China-Laos-Thailand high-voltage interconnection — a 500 kV transmission line from Yunnan through Luang Prabang (Laos) to Bangkok, with construction of the Lao section now 60% complete and commissioning targeted for late 2027
- Technical standards harmonization: CSG has been working with ASEAN energy regulators to align grid codes and smart metering standards
- Smart grid pilot projects: Three digital substation pilots are underway in the EEC and Vientiane
中国的参与远不止项目融资。国家电网公司（SGCC）和中国南方电网（CSG）正积极参与：
- 中-老-泰高压互联工程——从云南经琅勃拉邦（老挝）至曼谷的50万伏输电线路，老挝段施工现已完成60%，计划于2027年底投运
- 技术标准协调：南方电网正与东盟能源监管机构合作，统一电网规范和智能计量标准
- 智能电网试点：EEC和万象正在推进三个数字化变电站试点项目
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The GMS power grid integration creates multi-layered opportunities:
1. Transmission equipment and EPC: Chinese firms have won tenders for over $2.8 billion in GMS transmission projects in 2025-2026
2. Smart grid technology: Growing demand for digital energy management systems in the EEC and Bangkok industrial zones
3. Renewable energy development: Chinese developers are bidding on 3.2 GW of new solar and wind projects in Laos and Myanmar targeting cross-border sale
4. Battery storage: The increasing intermittency from solar penetration is driving demand for grid-scale battery storage systems
GMS电网互联创造了多层次机遇：
1. 输变电设备与EPC：2025-2026年，中企在GMS输电项目中中标金额超过28亿美元
2. 智能电网技术：EEC和曼谷工业区对数字能源管理系统需求持续增长
3. 可再生能源开发：中国开发商正在竞标老挝和缅甸320万千瓦的新增太阳能和风电项目，目标为跨境销售
4. 电池储能：光伏渗透率上升带来的间歇性问题正推动电网级电池储能系统的需求增长
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*Sources: ADB GMS Regional Power Trade Coordination Committee (RPTCC) report Q2 2026; Mekong Institute Energy Policy Brief, June 2026; IEA Southeast Asia Energy Outlook 2026; ERC Thailand PDP 2026 announcement (June 15, 2026); MLC Special Fund project database; CSG investor presentation, May 2026*
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