Toyo Thai Power Myanmar Co Ltd (TPMC) plans to invest between US$350 million (K471 billion) to US$500 million to set up a liquefied natural gas (LNG) power plant, U Htet Aung Mon, general manager of TTCL Power Myanmar said.
TPMC is the subsidiary of Thailand-based TTCL Public Co Ltd.
The LNG power plant expected to generate 388Mw of electricity will be located in Alone Township, Yangon.
U Htet Aung Mon said that the LNG to power the plant will be imported.
In July last year, TPMC proposed the project to the Ministry of Electricity and Energy. The ministry issued a Notice to Proceed to TPMC this January.
At present, the company is preparing an environmental impact and socio-economic impact reports for the project. The company is meeting with residents and explaining the project in the townships of Alone, Dagon, Lanmataw, Dala, Sategyi Khanaungto, Sekikan and Thanhlyan in Yangon.
The company says it is hoping to begin construction on the project by the middle of next year, although this also depends on completion of the impact reports.
U Htet Aung Mon said that if construction starts next June, the plant could begin generating power within 28 months.
The TPCM project is one of three large LNG power plants that will be built in the country.
The MOEE also issued Notices to Proceed for a 1230Mw LNG power plant in Kanbauk, Tanintharyi Region, by European conglomerates Total and Siemens, and a 1390 Mw plant in Ayeyarwady Region to be operated by China’s Zhefu Holding Group and local partner Supreme Group.
The MOEE is currently negotiating terms for the power purchase agreements under which it will buy the LNG generated by the three plants to meet the bulk of Myanmar’s energy requirements by 2020.
Myanmar is under pressure to double its power production capacity to 6000 Mw within the next two years, in order to meet rising demand. In the meantime, several power generation projects, the most recent of which is the 225MW Sembcorp Myingyan combined-cycle gas plant, have commenced operations. Next month, a 40MW solar plant in Minbu is expected to come onstream.