Shwe Taung wins tender for three solar power project in Myanmar

Shwe Taung Group has won three out of 30 ground-mounted solar power tenders called by the Ministry of Electricity and Energy (MOEE) in Myanmar. The company said it is the only Myanmar group to win three projects as the lead developer and majority shareholder.

The three solar power plants, in Aungchanthar, Nyaungpingyi, and Ohntaw, have a total capacity of 100MW and will provide power generated by renewable energy to Myanmar’s electricity grid. Shwe Taung on December 30, 2020, obtained approvals from the Myanmar Investment Commission for the Nyaungpingyi and Aungchanthar power plants, in which the company will hold stakes of 97 percent each.

The plants are now under construction and expected to start operations in the second quarter of this year. The Electric Power Generation Enterprise under the MOEE invited tenders to build the ground-mounted solar power plants on a 20-year build-operate-own basis at 30 sites across the country last year. Around 155 proposals – mostly Chinese – were submitted for all 30 sites, with a few key sites receiving as many as 13 proposals. In addition to the 100MW solar projects under construction, Shwe Taung said it is actively exploring new renewable energy and energy efficiency projects, including solar, hydro, and waste-to-energy.

It is now the lead developer in renewable energy projects generating over 180MW of energy at different stages of feasibility and development. Shwe Taung said it has the largest commercial and industrial distributed solar power portfolio in operation in Myanmar, and powers some of its own real estate project with solar energy. These include Junction Square in Yangon, Junction Centre Nay Pyi Taw, and PARKROYAL Nay Pyi Taw. Shwe Taung designs, constructs, and pays for the investment cost of the rooftop solar systems, and offers energy efficiency solutions to building owners. Another 10MW of distributed solar is under development in various projects including the upcoming large-scale shopping center AEON Mall in Dagon Seikkan Township, Yangon.

Shwe Taung is also looking to develop sustainable hydropower projects in Myanmar. It is now working with Austria’s Andritz Hydro and Japan’s Kansai Electric on the 60MW Deedoke hydropower project in Mandalay. In Myanmar, 55pc of total electricity generated is mainly by hydropower and natural gas. The MOEE plans to meet 75pc of the country’s electricity needs by 2025. It is also aiming to have renewable sources account for 14pc of total generation within the five-year period.

To see the original article click link here

Source: Myanmar Times

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, “Puma Energy”, “MOGE”, “yangon new town”,”MECTEL”, “hydropower”, etc.

 Opportunities from COVID19

.

Looking for foreign investors to invest in your business in Myanmar