Out of 144 overseas power projects Chinese companies participated in over the first half of 2020, 27 projects are located in Myanmar, accounting for 18.8% of total, making the southeastern Asian country the most important market, data from Chamber of Commerce for Import and Export of Machinery and Electronic Products showed.
With a total investment of $790 million, accounting for 3.6% of all overseas power projects, these projects in Myanmar mainly include renewable energy, power transmission and transformation and thermal power, 21 of which are engaged in solar power generation, with a total investment of $600 million.
Myanmar has a vast market development outlook. The government plans to build a slew of power projects in the next two decades.
Data from Myanmar's Electric Energy Ministry showed that it plans to add 61.54 GW of capacity by 2030, including 11.88 GW of coal power, 4.43 GW of wind and solar.
Especially in the field of solar power, 21% of Myanmar's territory has first-level illumination, with a potential available solar energy of about 51,973.8 TWh. Currently, the development of solar power is still in the initial stage in the country.
Meanwhile, there's a huge gap of power demand in rural places, the micro-grid network of renewable energy highlighted by solar power will be the key development direction to solve the problem.
In May, the ministry issued 30 tenders for solar projects, with a total capacity of 1,060 MW, which attracted more than 20 Chinese companies to participate in.
(Writing by Alex Guo Editing by Tammy Yang)
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