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Deal signed for hydropower project


The Ministry of Electricity and Energy has announced the signing of a power purchase agreement (PPA) for the Upper Baluchaung hydropower project with Neo Energy Oasis Co Ltd, the builder of the project.

The PPA was signed between Electric Power Generation Enterprise (EPGE), a unit of the ministry and Neo Energy Oasis on December 28.

Within three years of the signing of the PPA, the project will be able to feed power to the national grid, said Union Minister for Electricity and Energy U Win Khaing.

The Upper Baluchaung project, which started in 2011, is being implemented under a build, operate and transfer (BOT) deal and is now 45.5 pc completed.

The hydropower project features two power plants with a total capacity is 30.4megawatts. The installed capacity of the first power plant is 20.4mw and 10mw for the second.

Under the design, annual power generation is projected to be 134.482 million kilowatt-hours and once completed, it is expected to supply electricity to villages in southern Shan State’s Nyaungshwe Township and its surroundings, and U Win Khaing said, adding the project is expected to be finished on time.

The project will support the economic development as well as the country’s development as it will provide job opportunities for about 500 people during construction period and for about 30 local engineers when power plants start to operate, and support economic development. Some 2 pc of annual net profit will be used for environmental conservation programme and corporate social responsibility projects the minister said.

Source: Myanmar Times

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