The project is a build–operate–transfer (BOT), PPP transaction for a combined-cycle, natural gas power plant with a net capacity of 225 MW to be located in Myingyan, approximately 500 kilometers (km) north of Yangon and 90 km west of Mandalay. The project has two phases: (i) constructing a 143 MW single-cycle gas turbine; and (ii) upgrading the turbine to a 225 MW combined-cycle plant, following the completion of a steam turbine. The project company will enter into a PPA with Myanma Electric Power Enterprise (MEPE), a state-owned utility, and a BOT agreement with MOEP. Myanmar Oil and Gas Enterprise (MOGE) will enter into a gas supply agreement (GSA) with MEPE to supply natural gas for use at the Myingyan power plant. MEPE will pay the value of the gas delivered directly to MOGE. The project will construct associated facilities, such as (i) transmission facilities, including a 3 km transmission line to connect the power plant to the nearby Myingyan 230 kV substation, which dispatches power to the grid; and (ii) a 14 km water supply line from the river intake to the power plant. MEPE will build a 1 km gas pipeline to the existing pipeline.
This project is co-financed by the Asian Infrastructure Investment Bank ($20 million), International Finance Corporation (IFC) ($40 million).
The borrower of the project will be a newly created, special-purpose project company in Myanmar. It will be 80% owned by SCU, a leading developer, owner, and operator of energy and water assets globally, and a wholly owned subsidiary of Sembcorp Industries Pte. Ltd. (SCI); and 20% by MMID Utilities Pte. Ltd. (MMID), a Singaporean company established to partner with SCU in this project (together with SCU, the sponsors).
ACCOUNTABILITY MECHANISM OF ADB
The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main