Thai Energy Firm Building 20MW Myanmar Plant Due to Sign Deal to Sell Power to Government

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A Thai chemical trader and renew­able energy pro­vider is due to sign a deal this year with the Myan­mar government to sell power to the country from a planned 20 megawatt plant.

UAC Global Plc is build­ing the first 10 megawatt phase of the plant now and is due to start work on the second phase soon, according to the com­pany’s president, Chatch­aphol Prasopchoke.

The deal with the My­anmar government would push the company’s 2017 revenues to a projected 1.8 billion baht, roughly $50 million, he added.

“We’re focusing on ven­tures that that we’ve just invested in, including the power business, whose capacity we decided to increase in order to boost revenues,” Mr Prasop­choke said.

Myanmar faces a severe energy shortage as its de­crepit power infrastruc­ture struggles to keep up with rapid economic growth. But a number of foreign investors have announced large projects that, it is hoped, will fill the gaps in coming years.

UAC Global ‘s plant will “take about two years to complete construction,” said Mr Prasopchoke, with commercial opera­tions due to begin in 2019. The internal rate of return will be more than 15 per­cent, he added.

The company, which is listed on Thailand’s MAI stock exchange, also has plans for a waste to en­ergy plant with a capacity of 5 megawatts in Laos.

 

Source: Myanmar Business Today

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