Solar Project 220 MW in Magway Region

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Minbu solar site cleared ahead of construction

The preliminary stage of the 220MW Minbu solar project, located in Magway Region, is now complete as the 700 acre site has reportedly been cleared in preparation for American contractors Black & Veatch to begin the construction phase shortly.

According to a 7 January article in Democracy Today, 120 part-time workers joined 17 full-time employees to clear the site.

U Khin Zaw, a project manager associated with Black & Veatch, told the newspaper that “we started clearing the land in July and this stage is now complete’’.

Black & Veatch has been contracted by Thailand’s Green Earth Power for the build, which has been described as south-east Asia’s largest solar plant.

According to previous reports, the Thai company plans to invest $275m in the project and has agreed to sell electricity to the government over a 30-year contract period.

A memorandum of understanding (MoU) to develop the plant was first signed with the Ministry of Electric Power (MoEP) in May 2013 and the contract was finally formalised in October 2014.

A first phase with 50MW capacity is due to come online in 2017, with the overall project to be built in four stages over a total of 30 months.

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Thai company completes purchase of Green Earth Power stake

Bangkok listed QTC Energy Public Company has completed its purchase of 15% of Green Earth Power, according to a release on the Thai stock exchange.
QTC says it has received the shares from the sellers, and in turn paid its third installment of 67m baht ($2m) on 21 June.
QTC shareholders approved the plan to buy 15% of Green Earth Power (Thailand) in May. The firm had first announced its intention to purchase a stake in April.
Green Earth Power’s main business is a planned 220MW solar power project in Minbu. It is one of two large solar farms that has received MIC approval and signed a PPA.
As of 29 April 2016, the pre- and post-transaction shareholding in GEP (Thailand) was the following:
Shareholder Shareholding (pre transaction) Shareholding (post transaction)
Planet Earth Holding 48% 73% (both PEH and Noble Planet)
Noble Planet 40%
Vintage Engineering Public 12% 12%
QTC 0% 15%
After the deal, three new directors are to be appointed, of which QTC can appoint one. There are currently six directors.
QTC is to pay $7.6m for the ordinary shares, and estimates it will spend $14.4m on shares in GEP (Thailand) on a pro rata basis if registered capital is increased in the future for the completion of the project.
Payment was to be made in four installments:
1st Installment – refundable deposit in December 2016 of $2.25m
2nd installment – within five business days of signing share purchase agreement, $1.5m
3rd installment – on closing date, tentatively June 2017, of $2m
4th installment – within 31 December, of $1.9m
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Green Earth Power prepares for MIC approval for solar site

Thai firm Green Earth Power is preparing to submit its application for its 220MW solar power plant in Magwe Region’s Minbu township to the Myanmar Investment Commission, according to a 2 July article in Democracy Today.

The last step before the application can take place is approval from the Environmental Conservation Department for the project’s Environmental and Social Impact Assessment (E/SIA), the article said, citing an unnamed official with the Ministry of Electricity and Energy (MoEE).

“We need E/SIA to prepare for MIC approval. As soon as we receive this, we will proceed,” the official said.

The Green Earth Company and MoEE agreed to a Memorandum of Understanding 2013, and signed a Memorandum of Agreement in 2014. The next step in the process is MIC approval.

Black & Veatch has been contracted by Thailand’s Green Earth Power to build the project. It had previously been touted as the largest solar plant in Southeast Asia, though other companies have since announced larger plans.
According to previous reports, the Thai company has claimed it plans to invest $275m in the project and has agreed to sell electricity to the government over a 30-year contract period.
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