(From Myanmar Times)
By Steve Gilmore
The private sector could help cover a US$2.5 billion annual investment shortfall in Myanmar’s power sector and the government is urging international investors to help the country meet its electricity needs, an official has said.
Myanmar’s energy sector as a whole needs between $30 billion and $40 billion over the next 15 to 20 years, according to the government’s recently published Energy Master Plan – drawn up with help from the Asian Development Bank.
International financial institutions (IFI) are expected to provide much of the necessary investment, but this still leaves ample room for private firms.
The $40 billion it will take to meet Myanmar’s 2030 energy targets will have to be spent, or at least allocated, by 2025, said Peter Brimble, the ADB’s principal country specialist for Myanmar.
“You’re talking $4 billion a year,” he said during a panel discussion on energy and infrastructure at the American Chamber of Commerce Myanmar’s annual economic forum. “Of that about three-quarters is in generation and about one-quarter on distribution and transmission.”
The various “development partners” – JICA, the ADB and the World Bank – might “perhaps provide $1.5 billion a year to the energy sector”, Mr Brimble said. The $2.5 billion left over represents an opportunity for the private sector, he added. Read more