In the wake of surging energy demand across Southeast Asia, Laos has pursued an ambitious strategy to become “the battery of Asia,” exemplified by the development of the Xayaburi Dam—its first large-scale hydropower project on the Lower Mekong River. This article explores how the dam reshaped Laos’ post-2008 economic priorities and institutions, driving a shift toward export-oriented growth and deeper regional energy integration. While it brought investment and institutional reform, it also intensified tensions between development, environmental sustainability, and transboundary cooperation.