"Myanmar junta's solar power bid tests post-coup investor sentiment", 10 June 2021

Myanmar's junta has launched an ambitious scheme to build solar farms that can generate up to 320 megawatts across the heartland regions, areas dominated by the predominantly Buddhist Bamar population, in a major test of investor confidence in the new regime.

The Ministry of Electricity and Energy on May 24 issued a tender to build solar power facilities on 12 sites across central Myanmar that would generate between 20MW and 40MW each, on a build-operate-own basis for 20 years [...]

Industry insiders and analysts are closely watching how Chinese companies, which had dominated Myanmar's energy tenders in recent years, will respond to the offer, though one analyst who monitors Chinese investment in Myanmar suggested that Beijing is discouraging state-owned enterprises from participating in the bid. [...]

The tender comes even as Myanmar is struggling to attract investments amid political turmoil following the Feb. 1 coup. Since then, the regime has announced 25 foreign direct investment approvals worth billions of dollars, without disclosing the details. One developer who took part in the 2020 solar bid said his company has no plans to get involved this time "given the uncertainty in the economy." [...]