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SEMBCORP Industries has signed a long-term power purchase agreement (PPA) with Myanmar Electric Power Enterprise (MEPE), for the supply of 225 megawatts of power for a period of 22 years.
The power to be supplied will be produced by Sembcorp's upcoming power project in Myingyan, Mandalay, the company announced on Wednesday.
The PPA will come into effect upon the fulfilment of certain conditions, including the execution by Myanmar's Ministry of Electric Power (MOEP) of the build-own-transfer agreement for the project, "pursuant to which MOEP agrees to provide all support for the implementation of the project and guarantees MEPE's payment obligations under the PPA".
Dennis Foo, general manager of Sembcorp Myingyan Power Company, said the company looks forward to helping meet the growing demand for power in Myanmar, and supporting the country through power capacity building.