World Bank lends Myanmar $140m for power plant

powerplant-in-MyanmarThe World Bank said on September 24 that it will extend a $140 million interest-free loan to Myanmar to refurbish a power station in the southern part of the country.

The development bank, which resumed support to Myanmar last year after a gap of 14 years, said the loan will fund the installation of a modern, high efficiency power plant at the Thaton Gas Turbine Station in Mon State. The new 106-megawatt plant will provide electricity to both the national and local grids, covering 5 per cent of peak demand in Myanmar and 50% of peak demand in Mon State.

“The project is the first step to bringing more and cleaner electricity to the people of Myanmar,” the bank said in a statement.

It said existing gas turbines at the plant will be replaced with advanced combined cycle gas turbine technology, enabling the plant to provide 250 per cent more electricity with the same amount of gas.

“Replacing existing gas turbines to make them run cleaner, greener and more efficiently is the fastest, cheapest approach to increase electricity production,” it said.

The bank said the electrification rate in Myanmar is among the lowest in Southeast Asia, with only 16 per cent of households in rural areas having access to grid-based electricity.



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The World Bank said on September 24 that it will extend a $140 million interest-free loan to Myanmar to refurbish a power station in the southern part of the country. The development bank, which resumed support to Myanmar last year after a gap of 14 years, said the loan will fund the installation of a modern, high efficiency power plant at the Thaton Gas Turbine Station in Mon State. The new 106-megawatt plant will provide electricity to both the national and local grids, covering 5 per cent of peak demand in Myanmar and 50% of peak demand in Mon State....

powerplant-in-MyanmarThe World Bank said on September 24 that it will extend a $140 million interest-free loan to Myanmar to refurbish a power station in the southern part of the country.

The development bank, which resumed support to Myanmar last year after a gap of 14 years, said the loan will fund the installation of a modern, high efficiency power plant at the Thaton Gas Turbine Station in Mon State. The new 106-megawatt plant will provide electricity to both the national and local grids, covering 5 per cent of peak demand in Myanmar and 50% of peak demand in Mon State.

“The project is the first step to bringing more and cleaner electricity to the people of Myanmar,” the bank said in a statement.

It said existing gas turbines at the plant will be replaced with advanced combined cycle gas turbine technology, enabling the plant to provide 250 per cent more electricity with the same amount of gas.

“Replacing existing gas turbines to make them run cleaner, greener and more efficiently is the fastest, cheapest approach to increase electricity production,” it said.

The bank said the electrification rate in Myanmar is among the lowest in Southeast Asia, with only 16 per cent of households in rural areas having access to grid-based electricity.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00

 

 

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