Myanmar, HK's VPower Ink Two PPAs

Hong Kong-listed VPower Group has signed two power purchase agreements (PPAs) with Electric Power Generation Enterprise (EPGE) of the ministry of electricity and energy of Myanmar, it said on July 2 in a statement.

CNTIC VPower - an equal joint venture between China National Technical Import Export Corp. (CNTIC) and VPower Group - will supply power from gas-fired projects in Thanlyin and Kyauk Phyu for five years. VPower said that the two plants, with an aggregate capacity of 582 MW, became operational on June 30.

These are second and third PPAs signed by the company. The first was signed last month for power supply from 477 MW plant in Thaketa, which is Myanmar’s first gas-fired power plant.

Recently, Malaysian state-run Petronas said it has begun deliveries of LNG to Myanmar, with two cargoes delivered in May and June 2020. The deliveries are part of a deal signed with CNTIC VPower earlier this year. In addition to the first two LNG cargoes, Petronas said it is also working with CNTIC VPower for further deliveries.