Sembcorp Industries has reached a milestone in the development of a new gas-fired power plant in Myanmar with the signing of a build-operate-transfer (BOT) agreement with the country’s government.
The 225 MW Myingyan power plant will be built in Mandalay at a cost of $300 million. It will be one of the largest gas-fired power plants in the country and will play a key role in meeting growing electricity demand.
Sembcorp subsidiary Sembcorp Myingyan Power Company signed the BOT deal with the Myanmar Ministry of Electricity and Energy. Under the agreement it will build and operate the power plant for 22 years.
Last year Sembcorp signed a long term power purchase agreement with Electric Power Generation Enterprise (EPGE), the successor entity to Myanmar Electric Power Enterprise (MEPE), to sell the entire output of the Myingyan power plant.