Power sector expansion in Myanmar to remain ‘limited’: report
It is projected that net installed capacity growth will be marginal at 2.1% annually.
The expansion of Myanmar’s power sector is expected to be “limited” with a compound annual growth rate of 2.1% projected between 2022 and 2032, Fitch Solutions reported.
Over the said period, the net installed capacity growth is projected to grow to 9.7 gigawatts in 2032 from 7.9W in end-2022.
Fitch noted much of this capacity growth will come from the 1,390MW Mee Lin Gyaing gas-fired power plant, which will likely come online between 2027 and 2028.
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“Additionally, Myanmar’s power market continues to be in a critical situation, with limited power supply stemming from fuel supply challenges,” the report read in part.
“We highlight that the Yangon Electrical Supply Corporation revised its power cuts from four hours to eight hours in April 2023 following further gas supply limitations.”
Over the coming 10 years, total power generation will grow at an annual average rate of 3.4%, from 21.0TWh in end-2022 to 29.2TWh in 2032.