China has topped the foreign investors line-up of power sector of Myanmar for four months of this fiscal year 2016-2017, official media reported Thursday.
China invested in five projects in electric sector worth with 1.3 billion US dollars, followed by Singapore with 570 million US dollars in four projects, according to an official of the Directorate of Investment and Company Administration (DICA).
There are 39 hydroelectricity projects, five wind power projects and five solar energy projects in Myanmar, which are planned to be implemented under Build-operate-transfer (BOT) and joint venture (JV) system.
The power consumption of the country increases by 15 percent or 300 megawatt annually. More power plants are needed to meet the demand. The country’s main power resources are gas and hydro power.
At present, only 3.7 million households in Myanmar can use electricity out of 10 million in the previous fiscal year 2015-2016. The per capital power consumption was about 222 kilowatts while in neighboring Thailand it was 2,500 kilowatts in 2015, said U Htein Lwin, permanent secretary of the Ministry of Electricity and Energy.
The country is inviting the foreign direct investments to boost the generating of electric power with the use of hydropower, natural gas, diesel, solar power, other bio products and disposed fuel.