Myanmar's solar market is largely untapped, with only 26% of the country having access to electricity currently. However, Myanmar will develop the world's third largest solar power plant within 21 months, providing an additional 210 megawatts of power. The regulatory framework for solar is limited and there are no upcoming changes anticipated. The market faces challenges of poor infrastructure and difficulties with project financing, but overcoming these barriers could provide opportunities for investors.
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Lawyer in Myanmar Oliver Massmann Solar Power Projects - The Basics
1. Lawyer in Myanmar Oliver Massmann Solar Power Projects - The Basics
-What is the current status of the Myanmar solar market (installed base, major projects and
players, etc)?
Myanmar’s solar market is largely untapped. Surprisingly, given that currently, only 26 per cent
of the country has access to electricity. Only 4 per cent of rural areas have access to power. Only
3,000 of the country's 68,000 villages have light, according to the Myanmar Times.
That being said, Myanmar will develop the world's third-largest solar power plant within 21
months, providing the country with an extra 210 megawatts of electricity to satisfy industrial
needs.
Green Earth Power (Thailand), the developer of the power plant, very recently signed a
memorandum of understanding with Myanmar's Ministry of Electric Power for the country's first
solar power plant. Total project value is US$275 million (8.15 billion). Myanmar's first solar
power plant will be on a 300-hectare (1,875 rai) land plot in Minbu, Magway region,
neighbouring Nay Pyi Taw, the capital.
-What is the regulatory framework for solar and are there any upcoming changes that could
impact the sector?
The regulatory framework for solar is very limited and we are not aware of any upcoming
changes that could impact the sector. However, it is useful for foreign investors to note that the
following relevant laws govern the power sector in general:
•State-owned Economic Enterprises Law of 1989 (“SOE Law”); •The Foreign Investment Law
of 2012 (“FIL”); •The Environmental Conservation Law of 2012; •The Environmental
Conservation Rules published in June 2014; •The Electricity Law of 2014; •The Myanmar
Companies Act of 1914.
Notably, Myanmar currently has no specific laws or regulatory framework dealing with
procurement for large scale solar power projects. The Tender Directive is to be followed when
procuring. However, there is a strong need for legal reform and the provision of a fresh piece of
legislation dealing with general procurement and tendering. The FIL provides a basic framework
2. for private foreign investors to obtain an investment permit and project approval. However, the
FIL does not deal with tendering and procurement related issues in any detail.
Myanmar’s power sector in general is tightly controlled by a state-owned buyer model, with two
key offtaking government entities: (i) Myanmar Electric Power Enterprise (“MEPE”) which is
governed by the Ministry of Electric Power (“MOEP”). The MEPE is the owner and operator of
the Myanmar power grid and buys electricity from both public and private producers and then on
sells the electricity to distributors; and (ii) the Hydro Generation Enterprise (“HPGE”). The
HPGE operates and maintains large scale hydroelectric facilities concerning the public sector.
The Yangon Electricity Supply Board (“YESB”) and other regional and state electricity supply
boards assist the MEPE in the purchase and distribution of power. Under the State-owned
Economic Enterprises Law of 1989 (“SOE Law”), the Government has the sole right to carry out
power generating services. However, the Government is empowered to grant exemptions.
-How is the market expected to evolve over the coming months/years and what are the main
challenges/opportunities facing developers and investors?
While Myanmar’s recent political and economic reforms have been rapid, this does not mean
that there has been any significant movement in the solar market.
There are significant difficulties involved with project financing which mainly revolves around
CBM and MIC approval (for companies with a MIC Permit) of the loan facilities, and challenges
in perfecting security interests.
Investors must be prepared to deal with the current challenges of poor infrastructure, in terms of
transport, telecommunications and utilities supply. Improvements to the country’s infrastructure
will take time.
***
Please do not hesitate to contact Oliver Massmann under omassmann@duanemorris.com in case
you have any questions on the above. Oliver Massmann is Partner of Duane Morris Selvam with
office in Yangon/Myanmar.