A deal struck between the US-based ACO Investment Group and the Burma Ministry of Electric Power will help kickstart the development of the first-ever PV energy project in Burma’s Mandalay region.
In total, two 150MW PV plants will be constructed in the region and are expected to create 400 construction jobs during their development and around 100 permanent jobs once both are operational.
Michael Froman, United States Trade Representative, said: “Efforts like these support the ambitious definition of development that is at the heart of President Obama’s trade agenda. By promoting trade and investment, we are unlocking even more opportunities for workers and businesses in both countries that promote not only higher incomes at home and around the world, but also driving sustainable development. We’re doing this because we know that trade works best when its benefits are broadly shared.”
The projects, which are approximately valued at US$480 million, is expected to be completed in 2016 and will account for 10-12% of the country’s total power generation.
Once built, the projects will help aid in the region’s manufacturing infrastructure by powering the Myotha Industrial Zone, which will be located 24.1 kilometres from one of the plants.