VPower Group International Holdings Ltd has successfully expanded its footprint into the LNG-to-power industry through a partnership with China National Technical Import and Export Corp (CNTIC).
On 14 June 2020, the power station in Thaketa Township of Yangon, Myanmar, built by the 50-50 joint venture of VPower Group and CNTIC (CNTIC VPower), started generating electricity with LNG. This is the first time that LNG is being used as a fuel source for power generation in Myanmar.
The power station, with an installed capacity of 477.1 MW, was built on a fast-track basis for one of the Myanmar Government’s shortlisted critical projects to boost power supply for summer 2020. The project was awarded to the consortium of VPower Group and CNTIC in late 2019 through a public tender. In addition to its efficient and flexible engine-based power generation technology, CNTIC VPower offers a one-stop LNG solution integrating LNG import, logistics, storage, and regassification to the country. The LNG infrastructure is located in Thanlyin of Yangon.
After the power purchase agreement was signed by a project company of CNTIC VPower, the power station commenced operation in phases starting from 14 June 2020. Electricity generated by this power station will be transmitted to support the nationwide electricity demand, in particular that in Yangon Region, via the national grid.
“This is a milestone for the people of Myanmar and we are proud to be a pioneer of the monumental achievement. This has been a project impossible to many, and executed under the most extraordinary circumstances. We thank all of our suppliers, engineers, consultants, project and commercial teams, and numerous government authorities who have given us their unwavering support, dedication, and faith that have contributed to our success”, said Earnest Cheung, CEO of CNTIC VPower, “Access to LNG will help the country meet its growing electricity demand and broaden its energy mix whilst allowing a more environmental friendly and sustainable generation for the future.”
On top of this project, CNTIC VPower is going to deliver more electricity to the country with another two power projects which were also awarded to the consortium in the same public tender.
“VPower Group has developed a strong position in the gas-fired distributed power generation industry in Asia, and it has been actively working on delivering more low carbon and sustainable energy as a responsible global citizen. The success of this LNG-to-power project has turned the development of VPower Group to a new page as it demonstrates our capability to provide the cleanest fossil fuel available for power generation with operational flexibility and agility. We are extremely pleased to join hands with our strategic partner CNTIC on the project and look forward to further deepening our cooperation”, added Ambrose Lee, Chief Strategy Officer and Head of Capital Markets and Corporate Finance of VPower Group.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/17062020/vpower-groups-jv-starts-powering-myanmar-with-lng/
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