Thai GEP finalises govt deal for 220-MW solar park in Myanmar

Oct 21, 2014 - Thai firm Green Earth Power (GEP) has sealed a memorandum of agreement (MOA) with the Myanmar government for the construction of a 220-MW solar park in the western part of the country.

Local daily The Nation said Monday the signing ceremony with officials from the Ministry of Electric Power (MOEP) has been held last week in Nay Pyi Taw. Construction could start in the first quarter of 2015.

GEP has already completed all needed preliminary works and has obtained land for the Minbu project in Magway Region, GEP’s executive director Aung Thiha said, as quoted by the paper. At present, the firm is finalising talks with the engineering, procurement and construction (EPC) agent and project lenders.

The developer entered a memorandum of understanding (MOU) for the project with Myanmar's electricity ministry in May 2013.

The Minbu solar park, calling for an investment of USD 350 million (EUR 273m), will be installed in four separate phases. The first one, a 50-MW plant, is seen to be operational in 2016. The facility's output will be sold under a 30-year power purchase agreement (PPA).

(USD 1.0 = EUR 0.780)

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