Myanmar’s power needs call for strategic plans and investment opportunities
Myanmar’s power shortage is one of the biggest
problems faced by investors and developers in the new frontier. With
the influx of foreign companies and investors, Myanmar’s unstable
electricity has become apparent and troughs of efforts are now underway
to rectify this issue. Currently, only about 26% of the general public
receives electricity, which is set to change by 2030 as Myanmar
government makes bold plans to improve the statistic to 80%.
Foreign
companies with technical know-how and up-to-date technology now play a
big role in the government’s plan to develop the nation’s power sector
and national grid. What’s needed now are investments in large base-load
power plants powered by coal, natural gas or hydropower in key cities
such as Yangon and Mandalay, where power interruptions can translate to
economic problems.
Other strategic approaches and opportunities for foreign investors include investing in “small, renewable, off-grid power plants in rural areas”
to better suit areas where power demands are low, and also investing in
power plants in the Thai-Myanmar border to tap on the sale of
electricity to both countries.
Power sector opportunities
in Myanmar have attracted a huge number of investors thus far, including
those at the government level. Recently, it has been announced that
Indonesia’s PT Bukit Asam (PTBA), a state-owned coal miner, are in the
talks of a joint venture with a Myanmar company to collaborate in a
power plant project, functioning as a G2G cooperation.
In
Japan, efforts to help Myanmar achieve its goal by 2030 are also put in
place. Japan’s Kansai Electric Power Co. is embarking on a 160 million
yen research project till June 2014 to study “Myanmar’s electricity
market and power generation capabilities and make a proposal to the Myanmar government on power source development plans through 2030”.
The Japan International Cooperation Agency (JICA) has also sent out an
order for Chubu Electric Power Co. to research on ways to improve power
generation and associated facilities in Myanmar’s commercial capital,
Yangon.
The upcoming 2nd Myanmar Power Summit in Yangon on September 23-25, 2013, an industry event hosted by the Ministry of Electric Power, will see regional players convene for updates and networking opportunities. Minister of Electric Power, U Khin Maung Soe will be giving a Keynote Opening at the summit, and senior representatives from both the Ministry and JICA will also be present to share insights and elaborate on future plans.
More information on the 2nd Myanmar Power Summit is available on the Event Page here.
For inquiries, please contact Ms. Grace at grace@cmtsp.com.sg or Tel. +65 6346 9147.
source: CMT Events
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