Myanmar recovery linked to development of electrical grid

Myanmar recovery linked to development of electrical grid

Myanmar pegs economic potential to efforts to expand electricity links
across the entire country by 2030. File photo by Stephen Shaver/UPI |
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May 9 (UPI) -- The government in Myanmar said it aims to draw in more
investments to off-grid and renewable energy projects to power the entire
country.

The government has a goal of delivering power across the entire country.
Only about 30 percent of the country's rural population has access to a
reliable source of energy and the government needs to build up the grid for
40,000 villages to meet its goal.

With Myanmar evolving politically and economically after years of strict
military leadership, Aung Thu, the country's minister for agriculture, said
at a forum at the nation's capital that electricity could fuel development.

"Having electricity access can create more job opportunities and,
consequently, increase family income," he said in his opening remarks.
"That's why the government is setting up high priorities and striving to
provide universal access to electricity by 2030."

In April, Myanmar received a $200 million credit from the World Bank to help
promote the country's financial strength. The nation's economy suffered in
2016 and, although growth is expected in the coming years, the World Bank
said assistance was necessary to offset the strains of poverty.

Growth in gross domestic product is strong, though a double-digit rate of
inflation is expected to create headwinds for Myanmar's growth. Foreign
investments, meanwhile, are necessary to advance much-needed developments in
the expanding energy sector.

Sanctions pressures on Myanmar eased after the 2010 elections, giving
foreign investors more opportunities in the once-isolated country.

Outside of direct grid issues, Myanmar could emerge as a regional natural
gas producer. One year ago, Australian energy company Woodside said it
increased its best estimate of the contingent reserve potential offshore
Myanmar by 83 million barrels of oil equivalent following the technical
evaluation of two exploration wells drilled in the area.

In a presentation to investors, the company said Myanmar was a central part
of its plans to deliver 2.4 billion barrels of oil equivalent in growth
projects over the next decade. As one of the earlier players in offshore
Myanmar, the company said it has a "commanding strategic advantage."

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Link to Original Article:
http://www.upi.com/Myanmar-recovery-linked-to-development-of-electrical-grid
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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com