Power Business

The group has studied the potential growth, as well as, investment opportunities in power industry. The main projects has been invested, developed, and operated under Andaman Power and Utility Company limited (APU), 93% shares owned by UPA, while the alternative energy projects has been studied and assessed through UPA Solar, UPA Green Energy, and UPA Power Group, whether they are feasible for further investment.

Myanmar aims to transform the Dawei deep-sea port into Southeast Asia’s largest industrial and trade zone called Dawei Special Economic Zone. Due to the growth of population and economy of Myanmar, the power demand is increasing significantly, still the power consumption is the lowest among ASEAN countries because of the lack of industrial development and investment. Such opportunity has been foreseen and studied thoroughly.

With the cooperation of APU and Ministry of Electric Power of Myanmar, a 500 MW Memorandum of Understanding has been signed in 2013. APU, later, signed Power Purchase Agreement of 6-20 MW with Tanintharyi Regional Government, as well as, Memorandum of Agreement of 200 MW in 2014.

March 28th 2016, Myanmar UPA (MUPA), UPA’s subsidiary, in which the Company holds 99% of shares, has entered into a power purchase agreement of 200 MW with Myanmar Electric Power Enterprise (MEPE) for construction of Phase2 power plant.