Sembcorp Industries said on Saturday it officially opened its US$310 million Sembcorp Myingyan Independent Power Plant (IPP) in Mandalay Myanmar, in a project which includes both thermal and renewable power generation.
The 225 megawatt plant, which was the first competitively tendered IPP in Myanmar, is one of the largest combined-cycle gas turbine plants in the country and it makes use technology to maximize output while minimizing greenhouse gases, Sembcorp said in a filing to SGX on Saturday.
Sembcorp Myingyan also included 106 kilowatt peak of solar panels on the roof of the administrative building and warehouse, with the potential for more to be installed later, the filing said.
The solar energy will be for onsite use, so that less of the power generated by the gas turbines will be used to run the plant’s operations, maximizing the power exported to the grid, Sembcorp said.
The project is expected to generate around 1,500 gigawatt hours of electricity a year, meeting power needs for around 5.3 million people, Sembcorp said.
The plant was funded by multilateral institutions including the Asian Development bank, the Asian Infrastructure Investment Bank (AIIB) and the International Finance Corporation (IFC), the filing said. International commercial lenders, including Clifford Capital, DBS Bank, DZ Bank and OCBC, also provided funding, it said.
Sembcorp said that the plan is 95 percent staffed by Myanmar locals, including Myanmar nationals who worked with the company in Singapore previously.
“This project demonstrates Sembcorp’s ability to serve as an integrator that brings together finance, technology, as well as technical and operational expertise to solve infrastructure challenges for the benefit of society, and for the betterment of people’s lives,” Neil McGregor, Sembcorp’s group president and CEO, said in the statement.