Contract agreed for Myanmar’s largest Independent gas-fired power plant

Sembcorp Industries has announced that its wholly-owned subsidiary, Sembcorp Utilities, has signed a memorandum of agreement with Myanmar’s Department of Electric Power Planning (DEPP), under the Ministry of Electric Power of Myanmar (MOEP), to invest in and develop a 225 MW gas-fired power plant in central Myanmar.

Monday’s agreement, aimed at addressing the country’s power deficit was signed by Tan Cheng Guan, Executive Vice President & Head of Group Business Development & Commercial of Sembcorp Industries, and U Khin Maung Win, Director General of DEPP, in the presence of senior government officials of Myanmar. The signing of the memorandum of agreement followed Sembcorp’s receiving the notice of award to develop and operate the power plant in April this year.
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Located in the Myingyan district of the Mandalay division, the US$300m power plant is set to be the largest gas-fired independent power plant in Myanmar.

Sembcorp will have an 80 per cent stake in this project, while its partner MMID Utilities will hold the remaining 20 per cent. Expected to be completed in 2018, the project will supply power to MEPE under a 22-year power purchase agreement (PPA), with MOEP guaranteeing MEPE’s obligations under the PPA.

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