China and Singapore made the largest investment in nine electric power projects as of July in this fiscal year 2016-2017, it is learnt from the Directorate of Investment and Company Administration (DICA).
China invested US$1.3billion into five projects in the electric sector. Meanwhile, Singapore invested in four projects with an investment of US$570million, said an official from DICA.
Currently, 39 hydroelectricity projects, five wind power projects and five solar energy projects have not yet been implemented. However, the projects are already drawn up to be carried out under Build–operate–transfer (BOT) and Joint Venture (JV) systems.
To boost the access to electric power in Myanmar, concerted efforts are being made by the Ministry of Electricity and Energy and local entrepreneurs to generate electric power with the use of hydro-power, natural gas, diesel, solar power, other bio products and disposed fuel. Foreign direct investments are being invited to implement these projects, it is learnt.
There were 3.7 million households in Myanmar with access to electricity in the 2015-2016 fiscal year. Electricity access was extended to 1.48 million more households accommodating 7.4 million people in the past five years. However, 6.8 million households still have no access of electricity, it is learnt from the above ministry.