Arab Today, arab today myanmar invites private investors to power projects to meet demand
Last Updated : GMT 00:42:33
Arab Today, arab today
Arab Today, arab today

Myanmar invites private investors to power projects to meet demand

Arab Today, arab today

Arab Today, arab today Myanmar invites private investors to power projects to meet demand

Yangon - XINHUA

Myanmar's Electric Power Ministry Tuesday invited private investors to generate electricity through implementing hydro-power and coal-fired thermal power projects in a bid to fulfill the power demand of the country, state media reported. Investors are required to conduct environmental and social impact assessment caused by project implementation work, said a statement of the ministry, urging the investors to follow the guidelines and procedures. In October last year, Myanmar's power authorities had allowed private entrepreneurs to engage in power production as independent producers on a manageable scale as part of its bid to help ease power shortage in the country. The entrepreneurs were set to generate 230 kilo-volts (KV) and 66 KV, standardized by the Ministry and to supply electricity in line with the prescribed volume. There had been power crisis in Myanmar last year with candle- light demonstrations against the country's power blackout. Myanmar Minister of Electric Power revealed in the parliament that under a 30-year electricity strategic development plan, the country's power supply till the fiscal year 2012-13 should have 4, 910 megawatts (mw). However, it got only 3,600 mw till to date. There was a decrease of 5,000 mw as the project failed to build seven hydropower, three thermal and two coal-fired power plants, the ministry said, attributing the failure to financial difficulties. Myanmar's power consumption, which has increased by 15 percent annually, is likely to reach 3,000 mw by 2015 with summer power demand estimated to stand 2,370 mw in 2014. With the current running power stations which can generate 1, 655 mw in maximum, the ministry called for building three power plants (500 mw each) at a cost of 2.1 billion U.S. dollars to meet the power demand of 3,000 mw in 2015 and 4,000 mw in 2016 to generate 1,500 more mw. Acknowledging that the government alone cannot afford to implement the projects, it is inviting local and foreign investment in the move.

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