Myanmar seeks investors in power industry

RANGOON — The 4th Great Mekong Subregion (Myanmar) Power Summit & Expo 2016 – the premier meeting place for local government and power developers to connect with regional investors and understand how to create a win-win partnership in a time where cooperation and collaboration is more important than ever – is slated on Nov. 29-Dec. 1, 2016 at Sule Shangri-La Hotel Yangon. Gathering ministerial authorities and state & regional regulators, IPPs from domestic and from the international community, financiers, third-party consultants, EPCs, and equipment manufacturers and technology providers, the event explores opportunities for investment across the region, present the latest technologies and debate the best financial strategies to support power and utility projects. Through strategic presentations, solution-oriented panel discussions, country-focused roundtable and a range of networking sessions, the 4th GMS (Myanmar) Power Summit & EXPO builds relationship between the region’s key players, and helps shape the future of the power industry in Myanmar. Myanmar’s energy consumption is among the lowest in the world. Around 70% of the population and 84% of rural households have no access to electricity, according to a World Bank report published in June last year. Around 7.2 million new connections must be added by 2030 to achieve 100pc electrification, requiring an average of 450,000 new connections per year – more than double the current rate, according to the report. The country’s 4255MW of total installed capacity comprises around 70pc hydropower and 27% gas-fired plants according to MOEP. In December 2015, the Ministry of Electric Power (MOEP) and Singapore-based Sembcorp Industries signed an agreement to develop a gas-fired project in Myingyan. The project will be the largest gas-fired power plant in the country with installed capacity of 225MW. The government has also signed a memorandum of understanding with a consortium led by Japan’s Marubeni Corporation for a $1 billion, 400MW gas-fired power plant in Yangon’s Thanlyin township, which will be built this year.