Asia In Depth
Foreign companies are set to play a big role in helping develop Myanmar’s inadequate power generating capacity. Only 26% of Myanmar’s populace has access to electricity, and a lack of reliable supply is a stumbling block for business. Indeed, many international manufacturers that had been enthusiastic about entering Myanmar have already been stymied by the power problem.
The government targets increasing capacity by 16,000 megawatts (MW) by 2030, or approximately four to five times the capacity now installed. A master plan and regulations for the industry are now being developed, but are not due to be completed until June 2014.
Huge fuel supplies brighten prospects. Fortunately for power companies, Myanmar is rich in untapped fuel resources, with natural gas reserves of more than 12 trillion cubic feet, ranking at 37th in the world. The country’s potential for renewable power is estimated at more than 50,000 terawatt-hours per year, an amount that is 300 times Thailand’s 2012 production.
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